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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define a Recurring Deposit Account.
💡 Hint: Think about monthly deposits.
Question 2
Easy
What does the variable 'n' represent in the interest formula?
💡 Hint: Count in months.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is a Recurring Deposit Account?
- A savings account with daily deposits
- A savings account with fixed monthly deposits
- A one-time deposit account
💡 Hint: Think about how deposits are made.
Question 2
True or False: The interest earned on an RD is a fixed amount regardless of the deposit duration.
- True
- False
💡 Hint: Consider how interest may vary.
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A person invests ₹4,000 monthly for 24 months at 5% interest. Calculate the maturity value. What is the importance of regular savings in achieving financial goals?
💡 Hint: First, calculate the interest, then find the Maturity Value.
Question 2
Imagine a person who invests ₹3,200 every month for 6 years at an interest rate of 7%. Calculate the total amount received at maturity and discuss the impact of compound interest on investments.
💡 Hint: Focus on finding the interest first!
Challenge and get performance evaluation