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Asked: 2021-03-16T15:03:11+05:30 In:

Mr. Gupta-opened a recurring deposit account in a bank. He deposited Rs. 2500 per month for two years. At the time of maturity he got Rs. 67500. Find : (i) the total interest earned by Mr. Gupta. (ii) the rate of interest per annum.

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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 2010 questions paper.

Mr. Gupta-opened a recurring deposit account in a bank. He deposited Rs. 2500 per month for two years. At the time of maturity he got Rs. 67500.

Find : (i) the total interest earned by Mr. Gupta.

(ii) the rate of interest per annum.

Question no.7 , ML Aggarwal, exercise 2, chapter 2, ICSE board, class10, banking.

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    1 Answer

    1. Solution:
      Deposit per month = Rs. 2500
      Period = 2 years = 24 months
      Maturity value = Rs. 67500
      ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 2 Banking Ex 2 Q7.1

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