Table of Contents
ICSE 10TH Class Objective Question On Recurring Deposit
What is R.D?
10TH ICSE Class MCQ on Recurring Deposit . When it comes to risk-free investments, a recurring deposit is one of the popular options available to you. Under this investment scheme, you need to deposit a fixed amount every month for a specific period of time. You will earn interest on the invested amount as per the interest rate offered by the bank with which the Recurring Deposit account is opened.
SUMMARY
Computing maturity value of a Recurring Deposit Account :
Where P is monthly installment; n is no. of months ; r is rate of interest.
10TH ICSE Class MCQ on Recurring Deposit
Important Questions on R.D for 10th ICSE Class
1. 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.
(a) 1305 (b) 13050
(c) 1503 (d) 15030
2. Mrs. Mathew opened a Recurring Deposit Account in a certain bank and deposited Rs. 640 per month for 45 years. Find the maturity value of this account, if the bank pays interest at the rate of 12% per year.
(a) 44069 (b) 40464
(c) 44064 (d) 44406
3. Each of A and B opened a recurring deposit account in a bank. If A deposited Rs. 1,200 per month for 3 years and B deposited Rs. 1.500 per month for 2- years; find, on maturity, who 2 will get more amount and by how much The rate of interest paid by the bank is 10% per annum
(a) 952.50 (b) 95.250
(c) 250.95 (d) 2509.5
4. Ashish deposits a certain sum of money every month in a Recurring Deposit Account for a period of 12 months. If the bank puys interest at the rate of 11% pa. and Ashish gets Rs. 12,715 as the maturity value of this account, what sum of money did he pay every month?
(a) 1000 (b) 100
(c) 500 (d) 10000
5. A man has a Recurring Deposit Account in a bank for 3 years. If the rate of interest is 12% per annum and the man gets Rs. 10,206 on maturity, find the value of monthly. instalments.
(a) 50 (b) 100
(c) 200 (d) 400
6. (i) 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.
(a) 6% (b) 7%
(c) 8% (d) 10%
7. Amit deposited 150 per month in a bank for 8 months under the Recurring Deposit 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 ?
(a) 1263 (b) 1236
(c) 8236 (d) 7236
8. Mrs. Geeta deposited Rs. 350 per month in a bank for 1 year and 3 months under the Recurring Deposit Scheme. If the maturity value of deposite is Rs. 5,565; find the rate of interest per annum.
(a) 9% (b) 18%
(c) 7% (d) 6%
9. Mr. Britto deposits a certain sum of money each month in a Recurring Deposit Account of a bank. If the rate of interest is of 8% per annum and Mr. Britto gets Rs. 8,088 from the bank after 3 years, find the value of his monthly installment.
(a) 500 (b) 400
(c) 300 (d) 200
10. Shahrikh opened a Recurring Deposit Account in a bank and deposited Rs. 800 per month for 1 years. If he received Rs. 15,084 at the time of maturity, find the rate of interest per annum.
(a) 1% (b) 3%
(c) 6% (d) 9%
11. Katrina opened a recurring deposit account with a Nationalised Bank for a period of 2 years. If the bank pays interest at the rate of 6% per annum and the monthly instalment is Rs. 1,000, find the interest earned in 2 years
(a) 1500 (b) 1600
(c) 1700 (d) 1800
12. 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.
(a) 8421 (b) 4821
(c) 8241 (d) 1428
13. Mohan deposited 80 per month in a cumulative (recurring) deposit account for six years. Find the amount payable to him on maturity, if the rate of interest is 6% per annum
(a) 6811.20 (b) 681.120
(c) 68.1120 (d) 6.81120
14. Mr. R.K. Nair gets Rs. 6,455 at the end of one year at the rate of 14% per annum in a Recurring Deposit Account. Find the monthly Instalment.
(a) 50 (b) 500
(c) 15000 (d) 100
15. Ahmed has a recurring deposit account in a bank. He deposits Rs. 2,500 per month for 2 years. If he gets Rs. 66,250 at the time of maturity, find: the interest paid by the bank
(i) the rate of interest.
(a) 2560 (b) 6520
(c) 5062 (d) 6250
16. The maturity value of a recurring deposit account is 11,364 in 4 years. It the monthly deposit is t 200 find the rate of interest.
(a) 6% (b) 7%
(c) 8% (d) 9%
17. Monica had a R.D. Account in the Union Bank of India and deposited Rs. 600 per month. If the maturity value of this account was Rs. 24,930 and the rate of interest was 10% per annum: find the time (in years) for which the account was held.
(a) 34 Months (b) 35 Months
(c) 36 Months (d) 37 Months
18. Mohit started paying 800 per month in a 6 year recurring deposit. After 2 years, he started one more R.D. account in which he deposited 1,500 per month. If the bank pays 10% per annum simple interest in both the deposits, find at the end of 6 years which R.D. will give more money and by how much ?)
(a) 1st Case (b) 2nd Case
(c) Both are equal (d) None of these
Education World is providing comprehensive, expert and high level coaching forgovernment job Highly qualified and experienced faculty of each subject of government job .
Education World has ultra-modern infrastructure and the coaching is given through latest techniques. The excellent study material, assignments & worksheets prepared by the highly qualified and experienced staff of Education World are provided free to its regular students. Practice Tests and Mock Tests are conducted at regular intervals. Doubt Clearance Classes are also provided to the students.
The tricks and shortcut methods being taught in Education World are very helpful to thestudents to crack Exam. Besides this, Individual attention is paid to each student.
The mission of Education World is to impart value-based education to one and all at affordable cost. Therefore, very low fee is charged from students.
The vision of Education World is to shape up future leaders in all spheres of life.
Proper guidance is vital for any competitive exam. Coaching centres have qualified and experienced teachers, who have been in the coaching long enough to understand and identify the needs of the students. Their responsibility does not end with just teaching the curriculum and analyse test patterns. They provide relevant notes and printouts, exam-oriented suggestions, which help students to achieve their aims. They also clear their doubts.
The coaching classes play a very supportive role. They guide the students in the right direction by familiarising them with the range of content they must cover for the exams. They get proper orientation. It also helps them to develop their skills and abilities through assessment tests, Practice tests and mock tests.
WEBSITE NAME : eduworld24.com
YOUTUBE CHANNEL EDUCATION WORLD EW