Complete the entries for 11th April at the rate of 5% p.a. No interest is paid for the month in which the account is closed. Learn in detail about the recurring deposit account in a bank and how it is beneficial for account holders in this chapter. 1,200 as interest at the time of maturity, find: Amount of maturity = Total sum deposited + Interest on it, Selina Solutions for ICSE Class 10 Mathematics, Selina textbook solutions for ICSE Class 10 Maths. 240 per month. maturity value. (ii) Quadratic Equations in one variable Recurring Deposit Accounts: computation of interest and maturity value using the formula: 2. Simple Interest .= RS 2335. His pass book entries are as follow: Calculate the interest due at the end of June and find the balance on July 1, if he deposits a cash of ?100 on July 1, which is also entered immediately. MV = P × n + I . simple interest. 1oo per month the maturity values after 5 years is Rs. So, Math.rint(14.74) returns 15.0. 100. About Us. If the bank pays interest at the rate of 5% per annum, find the interest paid on 1st April, 2008. He deposited, Ritu has a Recurring Deposit Account in a bank and deposits, Mr. Richard has a recurring deposit account in a post office for 3 years at 7.5% p.a. 4. ALSO READ. He closes the account on 11th April. P. Thus, the value of his monthly installment is Rs. Question 12. If the bank pays interest at the rate of 11% p.a. 200 on October 17,1983 and also on January 13,1984. Mr. Gulati has a Recurring Deposit Account of 300 per month. Maturity value = ₹ (80 × 18) + ₹ (11.4r) Given maturity value = ₹ 1,554 Then ₹ (80 × 18 ) + ₹ (11.4r) = ₹ 1,554 ⇒ 11.4r = ₹ 1,554 – ₹ 1,440 S Chand ICSE Maths Solutions: From the question, we have P = Rs. If he received 7,725 at the time of maturity, find the rate of interest per annum. 2,721.90. Mr. Mishra closes his account on 30th October, 2007. 25 per month from his pocket allowance and puts this saving every month in a bank recurring deposit scheme for a period of 72 months at 5.25%. 175, find the rate of interest. Calculate the maturity value of this account, if the bank pays interest at the rate of 10% per annum. (i) Value Added Tax Computation of tax including problems involving discounts, list-price, profit, loss, basic/cost price including inverse cases. Related Content. What amount does she get on maturity if the rate of interest is 16%? simple interest. 1000 every month in a recurring deposit account for 3 years at 8% interest per annum. Deepa has a 4-year recurring deposit account in a bank and deposits 1,800 per month. 8,447.80. So, y will hold 15.0. Write the entries of the passbook. Mr. A invested 100,000 in bank fixed deposit at ABC bank ltd. ABC bank ltd. pays 8.75% compounded annually. Then B will get more money than A by Rs 952.50 Ans. simple interest. The time given at the head of this Paper is the time allowed for writing the answers. Calclate and output the maturity amount(A) receivable using the formula: A = P[1+r/100]power n For option (ii) accept monthly installment(P) rate of interest(r) and time period(n) in months and Calculate and output the maturity value(A) receivable using formula : A recurring deposit account of 1,200 per month has a maturity value of 12,440. Mrs. Mathew opened a Recurring Deposit Account in a certain bank and deposited 640 per month for 41/2 years. of shares × Market value = 150 × 85 Sum invested = ` 12,750 % Return = Total income 2. MV= 100,000 * ( 1 + 8.75% )3 2. If the interest is less than Rs. 8,088 from the bank after 3 years, find the value of his monthly installment. Maturity value= Rs (300 x n) + Rs 1.5n(n + 1) = Rs (300n + 1.5n 2 + 1.5n) Given maturity value = Rs 8,100. Algebra (i) Linear Inequations. Interest for the month is calculated on the minimum balance between the 10th day and the last day of the month. Solution: Mr. A has invested in fixed deposit for 3 years and since it’s compounded annually, n will be 3, P is 100,000 and r is 8.75%. The rate of interest paid by the bank is 10% per annum. This amount is 2,721.90. Find the interest he receives. Question 5. The solutions will also guide you with the right steps to find the time required to earn a specific maturity value according to the given data. Kiran deposited 200 per month for 36 months in a bank’s recurring deposit account. Maturity value= Rs (140 x 48) + Rs (137.20)r, Then Rs(140 x 48)+Rs (137.20)r = Rs 8,092. So the maturity value is the amount given in the table against the row marked 72 and the column marked 25. Rs. Kiran deposited Rs. If the monthly installment is 400 and the rate of interest is 8%; find the time (period) of this R.D Account. simple interest. 2. 2. If she receives Rs. 3. If the rate of interest is 8% per year; calculate the maturity value of his account. She deposits Rs. of months, r = rate% ; Maturity Value = Total deposit (monthly deposit nterest Shares and Dividend: The total money invested by the company is called its capital stock. Given below are the entries in a Savings Bank A/c pass book: Calculate the interest for six months from February to July at 6% p.a. MATHEMATICS (ICSE – Class X Board Paper 2018). UP Polytechnic Admit Card 2021-2022 | Download Procedure, Details, Exam Pattern, Result, Exam Results, UP ITI Admit Card 2021 (Available) | Check UP ITI Hall Ticket from Here, Dates, Download Procedure, Madhya Pradesh ITI Admit Card 2021 | MP NCVT SCVT Semister Wise, WB ITI Admit Card 2021 | Dates, Steps To Download, Exam Centres, Indian Navy Admit Card 2021 | Join Indian Navy Admit Card Released for AA/SSR.