# Banking ML Aggarwal 2022 Solutions ICSE APC Understanding Class-10

Banking ML Aggarwal 2022 Solutions ICSE APC Understanding Maths Chapter-2 Banking . We Provide Step by Step Answer of Chapter-2 Banking of 2021-22 with MCQs and Chapter-Test Questions / Problems related Exercise-2 Banking for ICSE Class-10 APC Understanding Mathematics . Visit official Website CISCE for detail information about ICSE Board Class-10.

**Banking ML Aggarwal 2022 Solutions ICSE APC Maths Understanding Chapter-2 ( Latest Edition )**

**-: Select Topics :-**

**Exe-1**

**MCQs**

**Chapter-Test**

**How to Solve Banking Problems/Questions / Exercise of ICSE Class-10 Maths**

Before viewing Answer of Chapter-2 **Banking ML Aggarwal Solutions** . Read the Chapter Carefully. Then solve all the example of your text book. For more practice on **Banking** related problems/Questions/Exercise try to solve **Banking** exercise of other famous publications also such as Goyal Brothers Prakshan (RS Aggarwal ICSE) / Concise Selina Publications Mathematics. Get the formula of Banking for ICSE Class 10 Maths to understand the topic more clearly in effective way.

**Recurring deposit :-**

A recurring deposit is a special kind of term deposit offered by banks which help people with regular incomes to deposit a fixed amount every month into their recurring deposit account and earn interest at the rate applicable to fixed deposits. It is similar to making fixed deposits of a certain amount in monthly installments. This deposit matures on a specific date in the future along with all the deposits made every month. Recurring deposit schemes allow customers an opportunity to build up their savings through regular monthly deposits of a fixed sum over a fixed period of time. The minimum period of a recurring deposit is six months and the maximum is ten years.

**Banking Formula**

**Exercise 2** ,Banking ML Aggarwal Solutions ICSE Class-10th Maths 2022

**Question 1:**

Mrs. Goswami deposits Rs. 1000 every month in a recurring deposit account for 3 years at 8% interest per annum. Find the matured value. (2009)

**Question 2:**

Sonia had a …………………….. of this amount.

**Question 3:**

Kiran deposited Rs. 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 amount she gets on maturity ?

**Question 4:**

**……………………….**

**………………………..**

**…………………………**

**Question 10:**

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.

**Question 11:**

Samita has a recurring deposit account in a bank of Rs 2000 per month at the rate of 10% p.a. If she gets Rs 83100 at the time of maturity. Find the total time for which the account was held.

### MCQs of Banking ML Aggarwal Solutions ICSE Class-10th Maths 2022

**Question 1:**

If Sharukh opened a recurring deposit account in a bank and deposited Rs 800 per month for 112 years, then the total money

deposited in the account is

(a) Rs 11400

(b) Rs 14400

(c) Rs 13680

(d) none of these

**Question 2:**

Mrs. Asha Mehta deposit Rs 250 per month for one year in a bank’s recurring deposit account. If the rate of (simple) interest is 8% per annum, then the interest earned by her on this account is

(a) Rs 65

(b) Rs 120

(c) Rs 130

(d) Rs 260

**Question 3:**

Mr. Sharma deposited Rs 500 every month in a cumulative deposit account for 2 years. If the bank pays interest at the rate of 7% per annum, then the amount he gets on maturity is

(a) Rs 875

(b) Rs 6875

(c) Rs 10875

(d) Rs 12875

### Chapter Test of Banking ML Aggarwal Solutions ICSE Class-10th Maths 2022

**Question 1:**

Mr. Dhruv deposits Rs 600 per month in a recurring deposit account for 5 years at the rate of 10% per annum (simple interest). Find the amount he will receive at the time of maturity.

**Question 2:**

Ankita started paying Rs 400 per month in a 3 years recurring deposit. After six months her brother Anshul started paying Rs 500 per month in a 2(1/2) years recurring deposit. The bank paid 10% p.a. simple interest for both. At maturity who will get more money and by how much?

**Question 3:**

**…………………..**

**…………………..**

**Question 5:**

Rajiv Bhardwaj has a recurring deposit account in a bank of Rs 600 per month. If the bank pays simple interest of 7% p.a. and he gets Rs 15450 as maturity amount, find the total time for which the account was held.

— : End of Banking Solutions :–

Return to **ML Aggarwal Solutions for ICSE Class-10**

Thanks

Please Share with Your Friends