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Vidaara.orgClass 10 · Mathematics
CodeVID-M10-17-FRD-01
Fixed & Recurring Deposits — Assignment
Chapter: Banking
Topic: Fixed Deposits and Recurring Deposits
Maximum Marks: 35
Time: 75 minutes
Name: ____________________ Roll No.: __________ Date: ____________

General Instructions

  • All questions are compulsory.
  • Section A carries 1 mark each, Section B 2 marks, Section C 3 marks and Section D 5 marks.
  • Show all working for Sections B, C and D. Only final answers are given at the end — for full solutions, raise your doubts with your teacher.
Section A — Multiple Choice Questions 5 × 1 = 5 marks
1.
RD installments are deposited:
  • A.yearly
  • B.monthly
  • C.once
  • D.weekly
2.
A fixed deposit is a:
  • A.monthly deposit
  • B.lump-sum deposit for a fixed period
  • C.daily deposit
  • D.loan
3.
In the RD formula, $n$ counts the number of:
  • A.years
  • B.months
  • C.rupees
  • D.branches
4.
The RD interest formula is $P\cdot\dfrac{n(n+1)}{2}\cdot\dfrac{1}{12}\cdot\dfrac{r}{100}$, where $P$ is the:
  • A.maturity value
  • B.monthly installment
  • C.total deposit
  • D.rate
5.
Maturity value of an RD $=$
  • A.interest only
  • B.total deposit $+$ interest
  • C.one installment
  • D.principal only
Section B — Short Answer (2 marks) 4 × 2 = 8 marks
6.
Find the total deposit in an RD of $\textsf{Rs }200$/month for $10$ months.
7.
How many installments are there in a $2$-year RD?
8.
Find the simple interest on an FD of $\textsf{Rs }5000$ at $8\%$ for $2$ years.
9.
The maturity value of an FD equals principal plus:
Section C — Short Answer (3 marks) 4 × 3 = 12 marks
10.
Find the interest on an RD of $\textsf{Rs }100$/month for $12$ months at $10\%$ p.a.
11.
Find the total deposited in an RD of $\textsf{Rs }500$/month for $2$ years.
12.
Find the SI on an FD of $\textsf{Rs }10000$ at $7\%$ for $3$ years.
13.
Find the maturity value of an FD of $\textsf{Rs }6000$ at $9\%$ for $2$ years.
Section D — Long Answer (5 marks) 2 × 5 = 10 marks
14.
Rahul opens an RD of $\textsf{Rs }400$ per month for $2$ years at $9\%$ p.a. Find the maturity value.
15.
A sum of $\textsf{Rs }15000$ is deposited as an FD for $3$ years at $8\%$ per annum (simple interest). Find the maturity value.

Answer Key

Section A — Multiple Choice Questions
  1. (B) monthly
  2. (B) lump-sum deposit for a fixed period
  3. (B) months
  4. (B) monthly installment
  5. (B) total deposit $+$ interest
Section B — Short Answer (2 marks)
  1. $\textsf{Rs }2000$.
  2. $24$.
  3. $\textsf{Rs }800$.
  4. interest.
Section C — Short Answer (3 marks)
  1. $\textsf{Rs }65$.
  2. $\textsf{Rs }12000$.
  3. $\textsf{Rs }2100$.
  4. $\textsf{Rs }7080$.
Section D — Long Answer (5 marks)
  1. $\textsf{Rs }10500$.
  2. $\textsf{Rs }18600$.
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