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Banking — Practice Quiz

ICSE · Class 10 · Mathematics

Try a 4-question quiz on Banking for ICSE Class 10 Mathematics: tap an answer to check it and see why. 41 questions in the full chapter test.

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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Quick Quiz: Banking

0/4

Tap an answer to check it instantly. No sign-up needed for these 4.

1

Ram deposits ₹500 per month in a recurring deposit for 12 months at 8% per annum. What is the total amount deposited?

2

Using the formula I = P×n(n+1)/(2×12)×r/100, calculate the interest on ₹200 monthly deposit for 6 months at 12% per annum.

3

What is the maturity value if ₹300 is deposited monthly for 10 months at 9% interest using MV = P×n + I?

4

If the sum 1+2+3+...+n = n(n+1)/2, what is the value of 1+2+3+...+8?

41 Questions·
multiple choicemultiple correcttrue falsetext answermatchingordering

Sample Questions

1multiple correct

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

Show answer

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 practice questions are there for Banking?
There are 41 questions on Banking. Try the 4-question sample quiz on this page first; each answer shows an explanation when you tap it.

Sources & Official References

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

More resources for Banking

All ICSE Class 10 Mathematics Practice Quiz

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