Recurring Deposit Account

Q.

A sum of Rs. 12, 500 amounts to Rs. 15, 500 in 4 years on simple interest. What is the rate of interest on the sum?

1. 2%

2. 5%

3. 4%

4. 6%

Q.

Shahrukh opened a Recurring Deposit Account in a bank and deposited Rs 800 per month for $1\frac{1}{2}$ years. If he received Rs 15, 084 at the time of maturity, find the rate of interest per annum.

Q.

If the simple interest on a sum of money at 5$\%$ per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate..

1. 1254

2. 1261

3. 1441

4. 1002

Q.

Mohan has a recurring deposit account in a bank for 2 years at 6% p.a. simple interest. If he gets Rs 1, 200 as interest at the time of maturity, find :

(i) the monthly instalment

(ii) the amount of maturity.

Q.

Mr. Gulati has a Recurring Deposit Account of Rs 300 per month. If the rate of intererst is 12% and the maturity value of this account is Rs 8, 100; find the time (in years ) of this Recurring Deposit Account.

Q.

A sum of Rs 1600 gives a simple interest of Rs 252 in the time period of 2 years and 4 months. What is the rate of interest per annum?

1. 7.75%

2. 6.75%

3. 6.5%

4. 8.5%

Q.

Mr. Gupta opened a recurring deposit account in a bank. He deposited Rs 2, 500 per month for two years. At the time of maturity he got Rs 67, 500. Find:

(i) the total interest earned by Mr. Gupta

(ii) the rate of interest per annum.

Q.

A recurring deposit account of Rs 1, 200 per month has a maturity value of Rs 12, 440. If the rate of interest is 8% and the interest is calculated at the end of every month; find the time (in months) of this Recurring Deposit Account.

Q.

Bank OCC a/c is a group defined under which group?

Q.

Mr Britto deposits a certain sum of money each month in a Recurring Deposit Account of a bank. If the rate of interest is 8% per annum and Mr Britto gets ₹ 8088 from the bank after 3 years, find the value of his monthly installment.

1. ₹ 200

2. ₹ 100

3. ₹ 500

4. ₹ 350

Q.

The maturity value of a R.D. Account is Rs 16, 176. If the monthly instalment is Rs 400 and the rate of interest is 8%; find the time (period) of this R.D. Account.

Q.

Mr. Bajaj needs Rs 30, 000 after 2 years. What least money (in multiple of Rs 5) must he deposit every month in a recurring deposit account to get required money at the end of 2 years, the rate of interest being 8% p.a. ?

Q.

Ahmed has a Recurring Deposit Account in a bank. He deposits Rs2, 500 per month for 2 years. If he gets Rs 66, 250 at the time of maturity, find
(i) The interest paid by the bank
(ii) The rate of interest.

Q.

An amount of Rs. 7500 is borrowed at compound interest at the rate of 4% per annum. The amount to be paid after 2 years is _______.

1. Rs. 8112

2. Rs. 8000

3. Rs. 8525

4. Rs. 8640

Q.

(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.

(ii) David opened a Recurring Deposit Account in a bank and deposited Rs 300 per month for two years. If he received Rs 7, 725 at the time of maturity, find the rate of interest per annum.

Q.

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 $2\frac{1}{2}$ years: find, on maturity, who will get more amount and by how much ? The rate of interest paid by the bank is 10 % per annum.

Q.

Mrs. Geeta deposited Rs 350 per month in a bank for I year and 3 months under the Recurring Deposit Scheme. If the maturity value of her deposits is Rs 5, 565; find the rate of interrest per annum.

Q.

Ritu has Recurring Deposit Account in a bank and deposits Rs 80 per month for 18 months. Find the rate of interest paid by the bank if the maturity value of this account is Rs 1, 554.

Q. 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, 00, find the:
(i) Interest earned in 2 years
(ii) Matured value
[3 MARKS]

Q.

Mrs Mathew opened a Recurring Deposit Account in a certain bank and deposited Rs 640 per month for $4\frac{1}{2}$ years. Find the maturity value of this account, if the bank pays interest at the rate of 12 % per year.

Q.

A man has a Recurring Deposit Account in a bank for 3½ years. If the rate of interest is 12% per annum and the man gets ₹ 10, 206 on maturity, find the value of monthly installments.

1. ₹ 1806

2. ₹ 510

3. ₹ 200

4. ₹ 10, 206

Q.

Rishabh has a recurring deposit account in a post office for 3 years at 8% p.a. simple interest. If he gets Rs 9, 990 as interest at the time of maturity, find:

(i) the monthly instalment.

(ii) the amount of maturity.

Q.

What will be the simple interest on a sum of Rs 1820 from March 11, 2003 to May 23, 2003 at 7.5% rate?

1. Rs 37.70

2. Rs 42.50

3. Rs 15.20

4. Rs 27.30

Q. Sanjay has a Recurring Deposit Account in a bank of Rs 2, 000 per month at the rate of 10% per annum. At the time of maturity, he receives Rs 83, 100. Find the time for which account was held.
[3 MARKS]

Q.

If the interest charged for 8 months is 0.06 times of the money borrowed, then what is the rate of interest per year?

1. 9.5%

2. 10.25%

3. 8.5%

4. 9%

Q. In a Recurring Deposit Account if ₹ 240 per month is deposited for 5 years and received ₹ 17, 694 at time of maturity then rate of interset is .

1. 9%
2. 10%
3. 6%
4. 12%

Q.

Mrs. Rita deposits ₹1600 every month in recurring deposit account at 9% p.a. simple interest. She receives ₹65, 592 at the time of maturity. What is the total time for which the account was held?

1. 47 months

2. 36 months

3. 16 months

4. 24 months

Q.

Mrs Mathew opened a Recurring Deposit Account in a certain bank and deposited ₹ 640 per month for 4.5 years. Find the maturity value of this account, if the bank pays interest at the rate of 12% per year.

1. ₹ 44, 604

2. ₹ 44, 064

3. ₹ 34, 560

4. ₹ 9, 504

Q.

Manish opens a Recurring Deposit Account with the Bank of Rajasthan and deposits ₹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.

1. ₹1050

2. ₹13050

3. ₹12000

4. ₹6000

Q.

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

1. ₹700

2. ₹600

3. ₹900

4. ₹560