Question Paper
Class / Subject: Class 10 (ICSE) · Mathematics
Chapter: Chapter 2 — Chapter 2: Banking (Recurring Deposit Accounts)
Time Allowed: 32 minutes
Max Marks: 16
1. What is a recurring deposit? [1]
(A) Depositing a fixed amount monthly, earning interest
(B) A one-time deposit only
(C) A type of loan
(D) A type of tax
2. What does 'P' represent in the RD formula? [1]
(A) Monthly deposit amount
(B) Total years
(C) Interest rate
(D) Maturity value
3. What does 'n' represent in the RD formula? [1]
(A) Number of months
(B) Monthly deposit
(C) Interest rate
(D) Maturity value
4. What does 'r' represent in the RD formula? [1]
(A) Annual interest rate
(B) Number of months
(C) Monthly deposit
(D) Maturity value
5. How is interest earned calculated? [1]
(A) Maturity value minus total deposited
(B) Only maturity value
(C) Only total deposited
(D) Maturity value plus total deposited
6. What does an RD encourage? [1]
(A) Regular saving habits
(B) Spending habits
(C) Ignoring savings
(D) Borrowing money
7. Why are RD accounts popular? [1]
(A) For consistent, regular saving
(B) They have no benefit
(C) Only for large one-time savings
(D) They discourage saving
8. Why learn RD calculations? [1]
(A) To make informed savings decisions
(B) No reason
(C) It's not useful
(D) Only for tests
9. What is a recurring deposit? [1]
(A) Depositing a fixed amount monthly, earning interest
(B) A one-time deposit only
(C) A type of loan
(D) A type of tax
10. What does 'P' represent in the RD formula? [1]
(A) Monthly deposit amount
(B) Total years
(C) Interest rate
(D) Maturity value
11. What does 'n' represent in the RD formula? [1]
(A) Number of months
(B) Monthly deposit
(C) Interest rate
(D) Maturity value
12. What does 'r' represent in the RD formula? [1]
(A) Annual interest rate
(B) Number of months
(C) Monthly deposit
(D) Maturity value
13. How is interest earned calculated? [1]
(A) Maturity value minus total deposited
(B) Only maturity value
(C) Only total deposited
(D) Maturity value plus total deposited
14. What does an RD encourage? [1]
(A) Regular saving habits
(B) Spending habits
(C) Ignoring savings
(D) Borrowing money
15. Why are RD accounts popular? [1]
(A) For consistent, regular saving
(B) They have no benefit
(C) Only for large one-time savings
(D) They discourage saving
16. Why learn RD calculations? [1]
(A) To make informed savings decisions
(B) No reason
(C) It's not useful
(D) Only for tests