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Important Questions

Banking — Important Questions

ICSE · Class 10 · Mathematics

41 important questions from Banking for ICSE Class 10 Mathematics, with answers. Includes multiple choice, multiple correct and true false questions.

41 questions24 flashcards5 formulas & key relations5 concepts

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An infographic illustrating the various functions performed by a bank, such as accepting deposits, lending money, transferring funds, providing lockers, and facilitating bill payments.
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41 Questions·
multiple choicemultiple correcttrue falsetext answermatchingordering

Important Questions from Banking

1multiple correct

Which of the following are functions of a bank? (Select all correct answers)

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Getting deposits, Lending money, Transferring money, Providing lockers

Banks perform multiple functions: taking deposits, lending money, money transfer, and providing safe deposit lockers. Manufacturing goods is not a banking function.

2multiple choice

For a recurring deposit of ₹400 monthly for 5 months, what is the equivalent principal for one month?

Show answer

₹6,000

Equivalent principal = P×n(n+1)/2 = 400×5×6/2 = 400×15 = ₹6,000. This represents the total principal earning interest for one month.

3true false

True or False: In a recurring deposit, the first month's deposit earns interest for the maximum number of months.

Show answer

True

True. The first month's deposit stays in the bank for the entire duration (n months), while the last month's deposit stays for only 1 month. Hence, the first deposit earns interest for the maximum time.

4text answer

Calculate the interest on ₹100 monthly deposit for 3 months at 6% per annum.

+37 more questions on Banking (ICSE Class 10 Mathematics)

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Frequently Asked Questions

What are the important topics in Banking for ICSE Class 10 Mathematics?
Key topics in Banking include Meaning and Functions of a Bank, Recurring Deposit Account, Formula for Interest on Recurring Deposit, Formula for Maturity Value. Study these first, then practise questions on each for the ICSE Class 10 board exam.
How many important questions are there in Banking?
Super Tutor has 41 practice questions for Banking, including multiple choice, multiple correct, true false, text answer, matching, ordering questions. A sample with answers is on this page.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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All ICSE Class 10 Mathematics Important Questions

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