Online Test — Banking
10 Questions • 15 min • Chapter MCQ
15:00
Question 1 of 10
medium
Which type of bank account is best for everyday transactions and earning moderate interest?
Fixed Deposit
Recurring Deposit
Savings Account
Current Account
Explanation: Savings accounts offer liquidity and moderate interest for daily use
Question 2 of 10
medium
A savings account has ₹5,000 for first 15 days and ₹8,000 for remaining 16 days of March. Find average daily balance.
₹6,000
₹6,500
₹6,548
₹6,800
Explanation: (5000×15 + 8000×16)/31 = (75000+128000)/31 = 203000/31 = 6548.39
Question 3 of 10
medium
What is the minimum balance penalty usually called?
Interest
Fee
Charge
Fine
Explanation: Banks call it a "penalty fee" or "non-maintenance charge"
Question 4 of 10
medium
Mr. X deposits ₹50,000 in FD for 2 years at 6% simple interest. Find maturity amount.
₹56,000
₹56,600
₹57,000
₹58,000
Explanation: I=(50000×6×2)/100=6000; Amount=50000+6000=56000
Question 5 of 10
medium
In a Recurring Deposit, how often do you deposit money?
Daily
Weekly
Monthly
Yearly
Explanation: RD requires fixed monthly installments
Question 6 of 10
medium
Which transaction requires writing a written instruction to pay someone?
ATM withdrawal
UPI payment
Cheque
Online transfer
Explanation: A cheque is a written instruction to pay a specific amount
Question 7 of 10
medium
If a bank pays 4% interest on savings accounts, and your average balance is ₹10,000 for January (31 days), what is the interest?
₹31.00
₹33.97
₹34.00
₹40.00
Explanation: (10000×4×31)/(100×365) = 1240000/36500 = 33.97
Question 8 of 10
medium
Which type of deposit has a lock-in period and penalizes early withdrawal?
Savings Account
Current Account
Fixed Deposit
Recurring Deposit
Explanation: FD has fixed tenure; breaking it early incurs penalty
Question 9 of 10
medium
A cheque bounces due to insufficient funds. What is this called?
Cheque dishonour
Cheque cancellation
Cheque stop payment
Cheque clearance
Explanation: Insufficient funds leads to cheque dishonour or bounce
Question 10 of 10
medium
Riya deposits ₹2,000 monthly in RD for 1 year at 8%. Find approximate total deposit.
₹20,000
₹22,000
₹24,000
₹26,000
Explanation: 2000 × 12 months = ₹24,000 total deposits