Chapter 2 – Banking (30 marks)
1. Mr Antao has a two-year deposit account in a bank where he deposits ₹ 900 per
month. Find the amount received by him at the time of maturity. If the rate of
interest is 8% p.a. (3 marks)
2. Ravina deposits ₹ 600 per month in a recurring deposit scheme for 2 years. If she
receives ₹ 15, 450 at the time of maturity, calculate the rate of interest per annum.
(3 marks)
3. Zaheeda deposits a certain sum of money, every month in recurring deposit
account for 2 years. If she receives ₹ 37,875 at the time of maturity and the rate of
interest is 5%, find the monthly deposit. (3
marks)
4. Sonya deposits ₹ 300 per month at 8% p.a. In a bank and receives ₹ 4740 on
maturity of the account. Find out the total time for which the recurring deposit
account is held. (3 marks)
5. Mr. Motasha opens a recurring deposit account of ₹ 600 per month at 12% p.a. If
he paid ₹ 7668 as maturity amount, how many instalments does he need to pay
(3 marks)
6. Sonia had a recurring deposit account in a bank and deposited ₹ 600 per month
for 2 years. If the rate of interest was 10% p.a. find the maturity value of this
account.
(3 marks)
7. David opened a Recurring Deposit Account in a bank and deposited ₹ 300 per
month for two years. If he received ₹ 7725 at the time of maturity, find the rate of
interest per annum. (3 marks)
8. Rekha opened a recurring deposit account for 20 months. The rate of interest is
9% per annum and Rekha receives ₹441 as interest at the time of maturity. Find
the amount Rekha deposited each month. (3
marks)
9. Mr. R.K. Nair gets ₹ 6455 at the end of one year at the rate of 14% per annum in a
recurring deposit account. Find the monthly instalment. (3 marks)
10. Samita has a recurring deposit account in a bank of ₹ 2000 per month at the rate
of 10% p.a. If she gets ₹ 83100 at the time of maturity, find the total time for
which the account was held. (3
marks)
