Banking Class 10 ICSE Notes OP Malhotra Maths 2026-27. We Provide Step by Step Answer of all the exercises with Chapter Test of S Chand OP Malhotra Maths . Visit official Website CISCE  for detail information about ICSE Board Class-10.

 

Banking Notes ICSE Class 10 OP Malhotra Maths 2026-27

What is Banking ?

• Banking is the process of receiving , safeguarding and lending of money through banks .
• It also includes calculations of interest on money deposited or borrowed .

Recurring Deposits (or Cumulative Time Deposits)

• A recurring deposit is a scheme in which a fixed amount is deposited in a bank every month for a fixed period.
• The period may range from 3 months to 10 years.
• The bank pays interest on the deposited amount and returns the maturity value at the end of the term.

Finding the maturity value of a Recurring Deposit Account

The maturity value of a recurring deposit is the total amount received at the end of the deposit period , including interest .

Maturity value (M) = P×n + P×n(n+1)/2 × r/(12×100)

where ,
M = Maturity value
P = Monthly value
n = Number of months
r = Rate of interest per annum

∴ Maturity value (M) = P×n + S.I

Important Points

• Rate of interest is per annum.
• R.D. installment is deposited monthly.
• First installment earns maximum interest.
• Last installment earns minimum interest.
• Time in R.D. is taken in months.
• Maturity value = Total Deposit + Interest.
• Interest in R.D. is calculated using Simple Interest.
• Convert years into months whenever required.

So , this was Banking Maths ICSE Notes Class 10 OP Malhotra .
Now you should solve some practice problems.

Questions on this topic :- Exe-2

In this chapter, we study all the topics on Banking and do some practice questions also. Here we solve extra practice questions on this chapter for better understanding.

Here is the link for extra practice questions on Triangles :- Self Evaluation

— : End of Banking Class 10 ICSE Notes OP Malhotra Maths 2026-27 :–

Return to :–  OP Malhotra S Chand Solutions for ICSE Class-10 Maths

Thanks
Please Share with Your Friends