{"id":8256,"date":"2022-05-14T05:00:43","date_gmt":"2022-05-13T23:30:43","guid":{"rendered":"https:\/\/cbselibrary.com\/?p=8256"},"modified":"2023-11-10T12:06:16","modified_gmt":"2023-11-10T06:36:16","slug":"banking-icse-solutions-class-10-mathematics","status":"publish","type":"post","link":"https:\/\/cbselibrary.com\/banking-icse-solutions-class-10-mathematics\/","title":{"rendered":"ICSE Solutions for Class 10 Mathematics – Banking"},"content":{"rendered":"

ICSE Solutions for Class 10 Mathematics – Banking<\/strong><\/span><\/h2>\n

ICSE Solutions<\/a>Selina ICSE Solutions<\/a><\/p>\n

Get ICSE Solutions for Class 10 Mathematics Chapter 3 Banking for ICSE Board Examinations on APlusTopper.com. We provide step by step Solutions for ICSE Mathematics Class 10 Solutions Pdf.\u00a0You can download the Class 10 Maths ICSE Textbook Solutions with Free PDF download option.<\/p>\n

Download Formulae Handbook For ICSE Class 9 and 10<\/a><\/p>\n

Formulae<\/strong><\/span><\/h3>\n

Calculating interest on a savings bank account:<\/strong><\/p>\n

    \n
  1. Interest for the month is calculated on the minimum balance between the 10th day and the last day of the month.<\/li>\n
  2. Add all these balances. However, if the same balance continues for n months then multiply this balance by n, rather than writing it n times and then adding.<\/li>\n
  3. Find simple interest on this sum for one month.<\/li>\n
  4. If the interest is less than Rs. 1, neglect it.<\/li>\n
  5. No interest is paid for the month in which the account is closed.<\/li>\n<\/ol>\n

    Calculation of maturity amount on recurring deposit:<\/strong>
    \nThe interest on the recurring deposit account can be calculated by using the formula:
    \n\"icse-solutions-class-10-mathematics-4\"
    \nwhere S.I. is the simple interest, P is the money deposited per month, n is the number of months for which the money has been deposited and r is the simple interest rate percent per annum.<\/p>\n

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    Formulae Based Questions<\/span><\/h3>\n

    Question 1.<\/strong> Naseem has a 5 years Recurring Deposit account in Punjab National Bank and deposit? Rs. 240 per month. If she receives Rs. 17,694 at the time of maturity find the rate of interest.
    \n\"icse-solutions-class-10-mathematics-22\"<\/p>\n

    Question 2.<\/strong> Zafarullah has a recurring deposit The list price of the television be? 12,500. account in a bank for 3\u00bd years at 9.5% S.I. p.a. If he gets Rs. 78,638 at the time of maturity. Find the monthly instalment.
    \n\"icse-solutions-class-10-mathematics-23\"<\/p>\n

    Question 3.<\/strong> Mohan saves Rs.\u00a025 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%. What amount does he get on maturity?
    \nSolution:<\/strong> See the table of Recurring deposit scheme. Here the month by instalment is Rs. 25 and the number of instalments is 72.
    \nSo the maturity value is the amount given in the table against the row marked 72 and the column marked 25. This amount is 2,721.90.
    \nHence, on maturity, Mohan gets Rs. 2,721.90.<\/p>\n

    Question 4.<\/strong> Using R.D., table calculate the values of a R.D., account of Rs. 80 for period of 9 months @ 11.5% p. a.
    \nSolution:<\/strong> In the row of 80 we will locate the value under the column of 9 months which is 755.
    \nSo, maturity values of RD., account of 80 for 9 months @ 11.5% p.a Rs. 755.00.<\/p>\n

    Question 5.<\/strong> Veena deposits Rs.\u00a0100 per month in a bank cumulative time deposit scheme for a period of 5 years. What amount does she get on maturity if the rate of interest is 16%?
    \nSolution:<\/strong> See the table of RD. scheme. For a monthly installment of Rs. 1oo per month the maturity values after 5 years is Rs.\u00a08,447.80.<\/p>\n

    Question 6.<\/strong> Mrs. Goswami deposits Rs.\u00a01000 every month in a recurring deposit account for 3 years at 8% interest per annum. Find the matured value.
    \n\"icse-solutions-class-10-mathematics-24\"<\/p>\n

    Question 7.<\/strong> Amit deposited Rs. 150 per month in a bank for 8 months under the Recurring Deposit Scheme. What will be the maturity value of his deposits, if the rate of interest is 8% per annum and interest is calculated at the end of every month?
    \n\"icse-solutions-class-10-mathematics-25\"<\/p>\n