Calculating Interest on Savings Account

Q. Mohan deposits Rs 80 per month in a cumulative deposit scheme for six years. Find the amount payable to him on maturity, if the rate of interest is 6% per annum.
[4 MARKS]

Q.

Deepa has a 4-year recurring deposit account in a bank and deposits Rs 1, 800 per month. If she gets Rs 1, 08, 450 at the time of maturity, find the rate of interest.

Q. Saloni deposited Rs 150 per month in her bank for eight months under the Recurring Deposit Scheme. What will be the maturity value of her deposit, if the rate of interest is 8% per annum and the interest is calculated at the end of every month?
[4 MARKS]

Q.

Gopal has a cumulative deposit account and deposits Rs 900 per month for a period of 4 years. If he gets Rs 52, 020 at the time of maturity, find the rate of interest.

Q. 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.
[3 MARKS]

Q. Ms. Mala deposited Rs. 1500 per month in a Recurring Deposite Scheme of a bank for 9 months. If she get Rs. 675 as interest at the time of maturity, find the rate of interest, if the interest is calculated at the end of each month. Find also the maturity value of the deposits.

Q.

Neha has a recurring deposit account in a bank and deposits Rs. 400 per month for 2.5 years. The rate of interest paid by bank if the maturity value of this account is Rs. 13240 will be

1. 8%

2. 10%

3. 11%

4. 12%

Q. 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.
[4 MARKS]

Q. Mohan deposited Rs 300 per month in a cumulative deposit for 2 years. The bank pays him Rs 9000 on maturity. Find the rate of interest.
[4 MARKS]

Q.

Find the simple interest on $Rs25000$ for $2years$ at $12\%quarterly.$

Q.

Mr. Singh get Rs. 6455 at the end of one year at the rate of 14% per annum in a Reccuring deposit account. The monthly installment is ___.

1. Rs. 600

2. Rs. 550

3. Rs. 500

4. Rs. 700

Q.

Apurva deposited Rs. 200 per month for 36 months in a bank’s recurring deposit account. The bank pays interest rate of 11% per annum. Calculate the amount that she will receive on the maturity.

1. Rs. 7670

2. Rs. 8421

3. Rs. 8400

4. Rs. 5047

Q. Mala deposits Rs. 60 per month in a cumulative deposit account for 6 years. Find the amount payable to her on maturity, if the rate of interest is 5% p.a.

Q.

Suppose a certain sum doubles in $2years$ at the $r\%$ rate of simple interest per annum or at the $R\%$ rate of interest per annum compounded annually. We have

1. $r<R$

2. $R<r$

3. $R=r$

4. $can’tbedecided$

Q. Vinod deposits Rs 700 every month in a recurring deposit account at the interest rate of 9$\%$ per annum for 12 months. What maturity amount he gets on his recurring deposit account.

Q.

Ashin invested an amount of Rs. 13, 900 divided into two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B (in rupees)?

___

Q.

Shakshi has a recurring deposit account in a bank for 5 years at 9% per annum simple interest. If she gets Rs.51607.50 at the time of maturity, what was her monthly installment?

1. Rs. 900

2. Rs. 560

3. Rs. 700

4. Rs. 600

Q.

How are principal and interest calculated?

Q.

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 %

Q.

Rohit has a recurring deposit account in State Bank of India. He deposits Rs 2500 per month for a time period of 2 years. At the time of maturity he receives Rs 66250. What is the interest paid by the bank? Also calculate the rate of interest.

1. Rs 5850, 8%

2. Rs 6250, 7%

3. Rs 6250, 10%

4. Rs 5850, 9.5%

Q.

Dinkar has a recurring deposit account in a bank for a time period of 3.5 years at 9.5 % p.a. He gets Rs 78638 at the time of maturity. What is his monthly installment?

1. Rs 1800

2. Rs 1600

3. Rs 2600

4. Rs 800

Q. Which of the following is the correct formula to calculate the amount in case of Compound Interest?

1. $A=P(1+\frac{r}{100}{)}^t$
2. None of the above
3. $A=P(1+rt)$
4. $A=P(1-\frac{r}{100}{)}^t$

Q.

The entries of a savings bank account are given below:

$\begin{array}{ccccc}Date& Particulars& Withdrawals(inRs.)& Deposits(inRs.)& Balance(inRs.)\\ \mathrm{01.01.03}& B/F& -& -& 14000\\ \mathrm{01.02.03}& ByCash& -& 11500& 25500\\ \mathrm{12.02.03}& ByCheque& 5000& -& 20500\\ \mathrm{05.04.03}& ByCash& -& 3750& 24250\\ \mathrm{15.04.03}& ByCheque& 4250& -& 20000\\ \mathrm{09.05.03}& ByCash& -& 1500& 21500\\ \mathrm{04.06.03}& Bycash& -& 1500& 23000\end{array}$

Find the interest for six months (that is from January to June) at 8% per annum on the minimum balance on or after the tenth of every month.

1. Rs 796.66

2. Rs 896.33

3. Rs 696.33

4. Rs 666.66

Q.

A person invested 3 times as much money in a scheme giving $5\%$ per annum simple interest than he invested in a scheme giving $2\%$ per annum simple interest. Further, he invested Rs. 6000 more in a scheme giving $3\%$ per annum simple interest than he invested in a scheme giving $2\%$ per annum simple interest. If the total interest from the three investments after a year is Rs. 980, then what is the total amount he invested?

1. Rs. 17600

2. Rs. 18000

3. Rs. 20000

4. Rs. 26000

Q. Gopal has a cumulative deposit account and deposits Rs. $900$per month for a period of $4$ years. If he gets Rs.$52,020$ at the time of maturity, find the rate of interest.

1. $5\%$
2. $2\%$
3. $10\%$
4. $12\%$

Q.

Edward opened a Recurring deposit account in a bank. He deposited Rs 300 per month for 2 years. At the time of maturity he received Rs 7725. What was the rate of interest?

1. 7.5%

2. 9.5%

3. 7%

4. 8%

Q. Mrs. Goswami deposits Rs 1000 every month in a Recurring Deposit Account for 3 years at 8$\%$ simple interest per annum. Find the matured value.
[4 MARKS]

Q.

Aparna has a cumulative deposit in Union bank for 4 years at 9% rate of interest per annum. She receives Rs 51, 607.50 at the time of maturity. Find her monthly installment.

1. Rs 800.78

2. Rs 708.36

3. Rs 700

4. Rs 908.26

Q. Suppose, price of commodity-Y ($P_Y$) is Rs. $10$ per unit. Also, assume that marginal utility of money $\left(M{U}_m\right)$ is $8$ (and constant). Using the following marginal utility schedule of the consumer, find out equilibrium level of consumption and total expenditure on commodity-Y

Units Consumed	$1$	$2$	$3$	$4$	$5$	$6$
Marginal Utility	$170$	$130$	$110$	$80$	$30$	$0$

Q.

A man has a Recurring deposit account in a bank for 3 years. The rate of interest is 8% per annum and man gets Rs. 20220 on maturity. The value of the monthly instalment is ___

1. Rs. 500

2. Rs. 600

3. Rs. 700

4. Rs. 200