Practice Accepting Deposits - 5.3.A.1 | 5. Banking | ICSE Class 9 Commercial Studies
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Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is a savings account?

💡 Hint: Think about how banks encourage savings.

Question 2

Easy

Name one feature of a current account.

💡 Hint: Consider its primary usage in daily banking.

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

Which type of account typically earns no interest?

  • Savings Account
  • Current Account
  • Fixed Deposit

💡 Hint: Consider which account is most frequently used in transactions.

Question 2

True or False: Fixed deposits do not allow you to withdraw funds before the maturity period.

  • True
  • False

💡 Hint: Think about the nature of fixed deposits locking funds.

Solve 1 more question and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

Imagine you are saving for a car using various accounts. If you deposit $100 a month into a recurring deposit that offers 5% interest, how much will you have after 2 years?

💡 Hint: Consider both the total contributions and the compound interest on them.

Question 2

Evaluate the suitability of a current account for a small business needing to handle multiple transactions daily while ensuring liquidity.

💡 Hint: Focus on how businesses handle cash flow versus savings.

Challenge and get performance evaluation