monthg.

EXERCISE 2
1. Mrs Goswami deposits 1000 per month in a recurring deposit
account for 3 years at 8%
interest per annum. Find the matured value. (2009)
2. Inderjeet opened a cumulative time deposit account with Punjab National Bank. He
deposited
*360 per month for 2 years. If the rate of interest be 7% per annum, how much did he get at
the time of maturity?
3. () Neema had a recurring deposit account in a bank and deposited 600 per
month for
years. If the rate of interest was 10% per annum, find the maturity value of this
account.
(2018)
1
(ii) Sajal invests 7600 per month for 2 years in a recurring deposit scheme of Oriental Bank
of Commerce. If the bank pays simple interest at 6 2 % per annum, find the amount received
by him on maturity.
4. Mr. Richard has a recurring deposit account in a bank for 3 years at 7.5% per
annum simple
interest. If he gets 8325 as interest at the time of maturity, find: (2017)
(i) The monthly deposit
(ii) The maturity value.
Banking 19
 Katrina opened a recurring deposit account with a Nationaliscd Bank for a period of 2 years,
5. 21000
annum and the monthly instalment, is
lf the bank pays interest at 6% per
years
() interest earned in 2
() matured value.
account in a bank. He deposits T2500 per month
(2015)
6. Ahmed has a recurring deposit maturity, find: for 2
If he gets T66250 at the
time of years.
() the interest paid by the bank
(ü) the rate of interest.
7. Mr. Gupta opened a recurring deposit account in a bank. He deposited 2500 per m (2011)
:
got 767500. Find
2years. At the time of maturity he
(i) the total interest earned by Mr. Gupta.
(iü) the rate of interest per annum.
8. Mr. Thomas has a 4 years cumulative time deposit account in Corporation Bank and dor.
7650 per month. If he receives 36296 at the time of maturity, find:
(i) the total interest earned by Mr. Thomas.
(ii) the rate of interest per annum.
9. Tanvy has a recurring deposit account in a finance company for 1= years at 9% per annum.
If she gets 15426 at the time of maturity, how much per month has been invested by her?
1
10. Punam opened a recurring deposit account with Bank of Baroda for years. If the rate
2
of interest is 6% per annum and the bank pays ?11313 on maturity, find how much Punam
deposited each month?
11. Kavita has a cumulative time deposit account in a bank. She deposits 600 per month and
gets 76165 at the time of maturity. If the rate of interest be 6% per annum, find the total
time for which the account was held.
[Hint: x2 + 411x 10x 4110 = 0].
12. Kavita has a cumulative time deposit account in a bank. She deposits T800 per month and
gets ?16700 as maturity value. If the rate of interest be 5% per annum, find the total time
for which the account was held.
[Hint: x' + 481x - 10020 = 0’ x + 501x 20x - 10020 0.]

13. David opened a recurring deposit account in a bank and deposited 1300 per month for two
years. If he received 7725 at the time of maturity, find the rate of interest per annum.
(2008)
14. Preeti has a recurring deposit account of 1000 per month at 10% per annum. lf she gets
{5550 as interest at the time of maturity, find the total time for which the account was beld
(2018)
15. Rekha opened a recurring deposit account for 20 months. The rate of
and Rekha receives 7441 as interest at the time of maturity. Find theinterest
amount is Rekha
9%% per a
deposited
each month. (2019)
16. Mr Sonu has a recurring deposit account and deposits 750
per month for 2 years. B
19125 at the time of maturity, find the rate of (2020)
interest.

20
Foundation Mathematics for Class X