Sonia had a recurring deposit account in a bank and deposited ₹ 600 per month for 2 1 2 years. If the rate of interest was 10 % p.a., find the maturity value of this account.

Given, Monthly instalment, P = ₹ 600 , Time, n = 2 1 2 yr = 2 × 12 + 6 = 30 months, Rate = 10 % . We know the maturity value = P × n 1 + r ( n + 1 ) 2400 , where P is the monthly instalment. Substituting the values of P , n and r in the above equation, we get, Maturity value = ₹ 600 × 30 1 + 10 × 31 2400 = ₹ 18000 2400 + 310 2400 = ₹ 18000 × 2710 2400 = ₹ 20325 Hence, the maturity value of the account is ₹ 20325 .

MEDIUM

Earn 100

Total income of Ramesh, Suresh and Preeti is $₹ 807000$ . The percentages of their expenses are $75 %, 80 %$ and $90 %$ respectively. If the ratio of their savings is $16 : 17 : 12$ , then find the annual saving of each of them.

Important Questions on Financial Planning

HARD

Mathematics>Algebra>Financial Planning>Savings and Investments

Priyanka has a recurring deposit account of $₹ 1000$ per month at $10 %$ per annum. If she gets $₹ 5550$ as interest at the time of maturity, find the total time for which the account was held.

MEDIUM

Mathematics>Algebra>Financial Planning>Savings and Investments

Which of the following is not a function of the commercial bank in an economy?

HARD

Mathematics>Algebra>Financial Planning>Savings and Investments

Mohan opened a recurring deposit account in Bank for

5

years and deposited

₹ 100

every month. If the rate of interest is

6 %

per annum, then how much amount will he get after

5

years?

HARD

Mathematics>Algebra>Financial Planning>Savings and Investments

Padmini opened a recurring deposit account in district cooperative bank for $10$ years and her monthly installment is $₹ 100$ . If on maturity she gets $₹ 3, 025$ as interest, then what is the rate of interest per annum?

HARD

Mathematics>Algebra>Financial Planning>Savings and Investments

Mr.Sonu has a recurring deposit account and deposits

₹ 750

per month for

2

years. If he gets

₹ 19125

at the time of maturity, find the rate of interest.

EASY

Mathematics>Algebra>Financial Planning>Savings and Investments

If a fixed amount is deposited in a bank for a fixed period, then it is known as _____ deposit account.

EASY

Mathematics>Algebra>Financial Planning>Savings and Investments

Vasim opened a recurring deposit account in Punjab National Bank. He deposits

₹ 200

per month for

5 y e a r s

. If rate of interest is

6 %

per annum, find the amount he will receive at the time of maturity.

MEDIUM

Mathematics>Algebra>Financial Planning>Savings and Investments

Rekha opened a recurring deposit account for $20$ months. The rate of interest is $9 %$ per annum and Rekha receives $₹ 441$ as interest at the time of maturity. Find the amount Rekha deposited each month in rupees.

MEDIUM

Mathematics>Algebra>Financial Planning>Savings and Investments

Sonia had a recurring deposit account in a bank and deposited

₹ 600

per month for

2 \frac{1}{2}

years. If the rate of interest was

10 %

p.a., find the maturity value of this account.

EASY

Mathematics>Algebra>Financial Planning>Savings and Investments

The first bank managed by any Indian was:

MEDIUM

Mathematics>Algebra>Financial Planning>Savings and Investments

Mr. Kumar has a recurring deposit account in a bank for

4

years at

10 %

p . a .

rate of interest. If he gets

₹ 21, 560

as interest at the time of maturity. Find the amount of maturity (in

₹

) of this recurring deposit account.

MEDIUM

Mathematics>Algebra>Financial Planning>Savings and Investments

Bank International Limited receives a letter of credit of USD 2000 in favour of M/s Dulari Exports Pvt Ltd for exports to Germany. After verification of the genuineness of the credit, it is forwarded to the beneficiary through a registered letter. Unfortunately, due to the postal strike, by the time the letter of credit is delivered, its validity period expires. The exporter threatens legal action against the bank:

EASY

Mathematics>Algebra>Financial Planning>Savings and Investments

The speed of a moving object is determined to be

0.06 m s^{- 1}

. This speed is equal to:

MEDIUM

Mathematics>Algebra>Financial Planning>Savings and Investments

Mr. Jam opened a savings bank account in a branch of Punjab National Bank on 6.4.2001 with a cash of

Rs 8, 000

. After that, his transactions were as given below.
He deposited

Rs 16, 500

by cheque on 14.4.2001; took out

Rs 5, 000

in his name on 10.5.2001; paid

Rs 2, 050

to a person through cheque on 2.6.2001; deposited

Rs 6, 000

in cash on 9.6.2001 took out

Rs 1, 500

on 3.7.2001.
Make the entries in his passbook.

HARD

Mathematics>Algebra>Financial Planning>Savings and Investments

Which among the following can be exercised by a bank on a term deposit the maturity date of which expired 2 months back?

MEDIUM

Mathematics>Algebra>Financial Planning>Savings and Investments

The account for which banks give a higher rate of interest is

MEDIUM

Mathematics>Algebra>Financial Planning>Savings and Investments

Govind opened a bank account on

1 - 4 - 2006

by depositing

₹ 3000

. He deposited

₹ 1000

on 11-04-2006 and withdrew

₹ 500

15 - 4 - 2006

. The minimum balance for the month of April is

EASY

Mathematics>Algebra>Financial Planning>Savings and Investments

Fixed deposit accounts give lowest rate of interest to the depositor.

MEDIUM

Mathematics>Algebra>Financial Planning>Savings and Investments

Profits of a firm are

Rs . 80000

and margin of safety units

4000

. Its fixed cost is

Rs . 60000

. Which of the following is not correct?

EASY

Mathematics>Algebra>Financial Planning>Savings and Investments

Bank fixed deposits (FDs) safe.

Total income of Ramesh, Suresh and Preeti is ₹807000. The percentages of their expenses are 75%, 80% and 90% respectively. If the ratio of their savings is 16:17:12, then find the annual saving of each of them.

Important Questions on Financial Planning

Learn and Prepare for any exam you want !

Total income of Ramesh, Suresh and Preeti is $₹ 807000$ . The percentages of their expenses are $75 %, 80 %$ and $90 %$ respectively. If the ratio of their savings is $16 : 17 : 12$ , then find the annual saving of each of them.