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Banking worksheet
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Ann Mary School, Dehradun
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BANKING WORKSHEET-1 1. Mr. Gulati has a recurring deposit account of Rs. 300 per month. If the rate of interest is 12% and the maturity value of this account is Rs. 8,100; find the time (in years) of this recurring deposit account. 2. Find the maturity value of a recurring deposit account when a man deposits every month: i) Rs. 100 for 9 months at 8% per year ii) Rs. 225 for 11 2 years at 9% per annum. iii) Rs. 540 for 3 years at 12% p.a. 3. Mrs. Mathew opened a recurring deposit account in a certain bank and deposited Rs. 640 per month for 41 2 years. Find the maturity value of this account, if the bank pays interest at the rate of 12% per year. 4. A man has a recurring deposit account in a bank for 31 2 years. If the rate of interest is 12% per annum and the man gets Rs. 2, 892 on maturity, find the value of monthly instalments. 5. Amit deposited Rs. 150/- per month in a bank for 8 months under the Recurring Deposits Scheme. What will be the maturity value of his deposits, if the rate of interest is 8% per annum and interest is calculated at the end of every month? 6. A recurring deposit account of Rs. 1 ,200 per month has a maturity value of Rs. 12,440. 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. 7. Manish opens a recurring deposit account with the Bank of Rajasthan and deposits Rs. 600 per month for 20 months. Calculate the maturity value of this account, if the bank pays interest at the rate of 10% per annum. 8. 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 Rs. 12,715 as the maturity value of this account, what sum of money did he pay every month. 9. Puneet has a recurring deposit account in the Bank of Baroda and deposits Rs. 140 per month for 4 years. If he gets Rs. 8,092 on maturity, find the rate of interest given by the bank. 10. Mrs. Geeta deposited Rs. 350/- per month in a bank for 1 year 3 months under the Recurring Deposit Scheme. If the maturity value of her deposits is Rs. 5,565; find the rate of interest per annum. [Downloaded from http:// www.icsepapers.com]
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