Maturity value of recurring deposits - class-X

maturity value of recurring deposits

18 Questions Published

Questions

Question 1 Multiple Choice (Single Answer)

Mr Bittu deposits a certain sum of money each month in a recurring deposit account. If the rate of interest is $8%$ per annum and Mr Bittu gets Rs $8,088$ from the bank after $3$ years. Find the value of his monthly instalment.

  1. $400$
  2. $800$
  3. $200$
  4. $140$
Question 2 Multiple Choice (Single Answer)

Divya has a recurring deposit in a bank at $ 5%$ per annum simple interest. If she pay monthly installment of Rs. $2000$ for annually. Find her Maturity value.

  1. $6049.931$
  2. $6249.931$
  3. $6149.931$
  4. $6549.931$
Question 3 Multiple Choice (Single Answer)

Sheela has a recurring deposit in a bank at $2%$ per annum simple interest. If she pay monthly installments Rs.$200$ for annually. Find her Maturity value.

  1. $621.99$
  2. $611.99$
  3. $631.99$
  4. $601.99$
Question 4 Multiple Choice (Single Answer)

______ type of account is operated by salaried persons and petty traders.

  1. fixed deposit
  2. save deposit
  3. recurring deposit
  4. current deposit
Question 5 Multiple Choice (Single Answer)

Rita has a recurring deposit in a bank at $4%$ per annum simple interest. If she pay monthly installment s Rs.$1000$ for annually. Find her Maturity value.

  1. $3019.97$
  2. $4019.97$
  3. $2019.97$
  4. $5019.97$
Question 6 Multiple Choice (Single Answer)

Ahmed has a recurring deposit account in a bank.He deposits Rs $5,500$ per month for 2 years.If he gets Rs $1,46,437.5$ at the time of maturity. Find the interest paid by the bank.

  1. $10.5$%
  2. $30$%
  3. $35$%
  4. None of the above
Question 7 Multiple Choice (Single Answer)

Nithya deposited Rs. $100$ per month for $12$ months in a bank's recurring deposit account. If the bank pays interest at the rate of $10%$ per annum, find the amount she gets on maturity.

  1. $1205$
  2. $1265$
  3. $1345$
  4. $1450$
Question 8 Multiple Choice (Single Answer)

Mohan deposited Rs.$80$ per month in a cumulative deposit account for six years. Find the amount payable to him on maturity, if the rate of interest is $6%$ per annum.

  1. $6811.20$
  2. $2000$
  3. $4811.20$
  4. $3811.20$
Question 9 Multiple Choice (Single Answer)

Priya has a recurring deposit in a bank at $10%$ per annum simple interest. If she pay monthly installment s Rs.$700$ for annually. Find her Maturity value.

  1. $2034.904$
  2. $2134.904$
  3. $3134.904$
  4. $4134.904$
Question 10 Multiple Choice (Single Answer)

Meena has a recurring deposit in a bank at $12%$ per annum simple interest. If she pay monthly installment s Rs.$400$ for annually. Find her Maturity value.

  1. $1123.92$
  2. $1223.92$
  3. $1623.92$
  4. $1823.92$
Question 11 Multiple Choice (Single Answer)

Sonya deposited Rs. $200$ per month in her bank for six months under the recurring deposit scheme. What will be the maturity value of her deposit, if the rate of interest is $7%$ per annum and the interest is calculated at the end of every month?

  1. $1936$
  2. $24936$
  3. $3936$
  4. $4936$
Question 12 Multiple Choice (Single Answer)

Sneha deposits Rs. $2500$ per month in a bank for $48$ months under a recurring deposit scheme. If she is entitled to get Rs. $150000$ as maturity value, find the rate of interest per annum.

  1. $6\%$
  2. $8\%$
  3. $10\%$
  4. $12\%$
Question 13 Multiple Choice (Single Answer)

In which account, a depositor choses a fixed amount and deposits it for fixed period every month?

  1. saving account
  2. fixed account
  3. recurring deposit account
  4. current account
Question 14 Multiple Choice (Single Answer)

If the account statement states that the interest is compounded annually then n = ?

  1. $1$
  2. $2$
  3. $3$
  4. $4$
Question 15 Multiple Choice (Single Answer)

The maturity value of a R.D Account is Rs. $16,176$. If the monthly installment is Rs. $400$ and the rate of interest is $8$ $%$. Find the time period of this R.D account.

  1. $2$ years
  2. $3$ years
  3. $4$ years
  4. None of the above
Question 16 Multiple Choice (Single Answer)

A man deposited a certain amount in a bank that would repay double the amount after a year. At the
beginning of the second year, the man took out Rs 8000 and deposited the rest in the same bank. Again at the beginning of the third year, he took out Rs 8000 and deposited the rest in the same bank. At the beginning  of the fourth year, he took out Rs 8000 as before but was not left with any balance in the bank. What was  his initial deposit?

  1. Rs 6000
  2. Rs 9000
  3. Rs 8000
  4. Rs 7000
Question 17 Multiple Choice (Single Answer)

The fixed period of recurring deposit account can be 

  1. $2$ months
  2. $3$ months
  3. $6$ months
  4. All of the above
Question 18 Multiple Choice (Single Answer)

Kiran deposited Rs.$200$ per month for $36$ months in a bank's recurring deposit account. If the bank pays interest at the rate of $11$ $%$ per annum, find the amount she gets on maturity.

  1. Rs.$8412$
  2. Rs.$8421$
  3. Rs.$2481$
  4. Rs.$1234$

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