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Saloni deposited Rs 150 per month in a bank for 8 months under the Recurring Deposit Scheme. ‘What will be the maturity value of his deposit if the rate of interest is 8% per annum ?

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This is an important question from the Book- ML Aggarwal
Board- ICSE
Publication- Avichal
Chapter- Bankin8
Chapter number-2
This question has been asked in 2007 paper so it is very important question from this chapter.

Saloni deposited Rs 150 per month in a bank for 8 months under the Recurring Deposit Scheme. ‘What will be the maturity value of his deposit if the rate of interest is 8% per annum ?
question no 2, ML Aggarwal, exercise 2, chapter 2, ICSE board, class10, banking.

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1 Answer

  1. Solution:
    Deposit per month = Rs. 150
    Rate of interest = 8% per
    Period (x) = 8 month
    ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 2 Banking Ex 2 Q2.1

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