Sharukh opened a recurring deposit account in a bank and deposited Rs 800 per month

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If Sharukh opened a recurring deposit account in a bank and deposited Rs 800 per month for 1 \frac { 1 }{ 2 } years, then the total money
deposited in the account is
(a) Rs 11400
(b) Rs 14400
(c) Rs 13680
(d) none of these

Solution:

(b) Rs 14400

Explanation:

Monthly deposit = Rs800
Period (n) = 1 \frac { 1 }{ 2 } years = 18 months
.’. Total money deposit = Rs 800 × 18
= Rs 14400

Mrs. Asha Mehta deposit Rs 250 per month for one year in a bank’s recurring deposit account. If the rate of (simple) interest is 8% per annum, then the interest earned by her on this account is
(a) Rs 65
(b) Rs 120
(c) Rs 130
(d) Rs 260

Solution:

(c) Rs 130

Explanation:

Deposit per month (P) = Rs 250
Period (n) = 1 year = 12 months
Rate (r) = 8 % p.a.

ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 2 Banking MCQS Q2.1

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