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deepaksoni
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Asked: 2021-03-16T15:08:03+05:30 In:

Mohan has a recurring deposit account in a bank for 2 years at 6% p.a. simple interest. If he gets Rs 1200 as interest at the time of maturity, find: (i) the monthly instalment (ii) the amount of maturity.

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This is an important question from the Book- ML Aggarwal
Board- ICSE
Publication- Avichal
Chapter- Banking
Chapter number-2
This question has been asked in 2016 paper.

Mohan has a recurring deposit account in a bank for 2 years at 6% p.a. simple interest. If he gets Rs 1200 as interest at the time of maturity,

find: (i) the monthly instalment

(ii) the amount of maturity.

Question no.9 , ML Aggarwal, exercise 2, chapter 2, ICSE board, class10, banking.

bankingicse boardml aggarwal
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    1 Answer

    1. Interest = Rs 1200
      Period (n) = 2 years = 24 months
      Rate (r) = 6% p.a.
      ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 2 Banking Ex 2 Q9.1

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