Banking
Formula :
M.V = p*n + I
𝑟 𝑛(𝑛+1)
I=p*100* 2∗12
1) Sonia had a recurring deposit account in a bank and
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deposited ₹600 per month for 22 years . If the rate of
interest was 10% p.a , find the Maturity value of the
account (2018)
2) Kiran deposited ₹200 per month for 36 months in a bank’s
recurring deposit account . If the banks pays interest at the
rate of 11% per annum , find the ammount she gets on
maturity? (2012)
3) Mrs . Mathew opened a Recurring Deposit Account with
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the bank of Rajasthan and deposits ₹ 640 per month 42
years . Find the maturity Value of this account , if the bank
pays interest at the rate of 12%p.a
4) Ankita started paying ₹400 per month in a 3year recurring
deposit . After six months her brother Anshul started
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paying ₹500 per month in a 22 years recurring deposit .
The bank paid 10% p.a simple interest for both. At
maturity who will get more money and by how much ?
5) Ritu has a Recurring deposit Acoount in a bank and
deposits ₹80 per month for 18 months . Find the rate of
interest paid by the bank if the maturity value of this
account is₹1554
6) 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
7) Shahrukh opened a Recurring Deposit Account in a bank
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and deposits ₹800 per month for 12 years . If he received
₹15084 at the time of maturity . Find the rate of interest
per annum.
8) Mr.Sonu has a R.D account and deposits ₹750 per month
for 2 years . If he gets ₹19125 at the time of maturity , find
the rate of Interest .
9) Ashish deposits a certain sum of money every month in a
recurring Deposit account for a period of 12 months . If
the bank pays interest at the rate of 11%p.a and Ashish
gets ₹12715 as the maturity value of this account , What
sum of money did he pay every month?
10) Amit deposited ₹150 per month in a bank for 8month
under the R.D scheme . What will be the Maturity value of
his deposit , if the rate interest is 8% per annum and the
interest is calculated at the end of every month?
(2001,2007)
11) Mr Bajaj needs 30000 after 2 years . What least money
(in multiple of ₹5) must be deposit every month in a
recurring deposit account to get required money at the
end of 2years , the rate of interest being 8% p.a?
12) Mr. Britto deposits a certain sum of money each month
in a recurring deposit account of a bank . If the rate of
interest is 8% p.a and Mr.Britto gets ₹8088 from the bank
after 3 years , find the value of his monthly instalment
13) Mr. R.K Nair gets ₹6455 at the end of one year at the
rate of 14% p.a in recurring deposit account . Find the
monthly instalment
14) Mr. Chaturvedi has a recurring deposit account in
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griddle’s Bank for 42 years at 11% p.a . If he gets
₹101418.75 at the time of maturity ; find the monthly
instalment
15) Katrina opened a R.D account with a nationalised bank
for a period of 2 years . If the bank pays interest at the rate
of 6% p.a and the monthly instalment is ₹1000 , find the :
(2015)
i) Interest earned in 2 years
ii) Maturity value
16) Mr. Gupta opened a recurring deposit account in a bank
. He deposited ₹2500 per month for 2 years . At the time of
maturity he get ₹67500.Find:
i) The total interest earned by Mr.Gupta
ii) The rate of interest per annum
17) Shilpa has a 4 year recurring deposit account in Bank of
Maharashtra and deposits ₹800 per month . If she gets
₹48200 at the time of maturity then, find:
i) The rate of interest
ii) The total interest earned by shilpa
18) A recurring deposit account of ₹1200 per month has a
maturity value of ₹12440. If the rate of interest is 8% and
the interest is calculated at the end of every month;find the
time (in months) of this Recurring Deposit account
19) 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
20) Rajiv Bhardwaj has a recurring deposit account in a bank
of ₹600 per month . If the bank pays simple interest of
7%p.a and he gets ₹15450 as maturity amount , find the
total time for which the account was held.
