Tag: banking
Questions Related to banking
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.
In which account, a depositor choses a fixed amount and deposits it for fixed period every month?
John deposited Rs. $50000$ in a bank for $1$ year and paying an annual interest rate of $14\%$, compounded quarterly. What is the maturity amount?
If the account statement states that the interest is compounded annually then n = ?
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.
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?
The fixed period of recurring deposit account can be
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.
Investment in funds like ELSS are admissible for deduction under section $80\text{C}$ of income tax.
You invest Rs. $3,000$ in a two year investment that pays you $12\%$ p.a. Calculate the future value of the investment.