Banking (Recurring Deposit Account) Solutions for ICSE Board Class 10 Mathematics

This Chapter in Chapter 2 of Class 10 Mathematics for ICSE focuses on topics like Bank, computation of interest, introduction to banking, etc. Baking is the act of receiving, safeguarding, and lending money by one party to another. This chapter introduces students to a recurring deposit account and also throws light on the computation of its maturity value.

The chapter teaches the students in brief about the process of opening a bank account, and various other banking terms including cheques and their different formats and types. The students are also taught about the savings bank account and its features. The second part of the chapter focuses on deposit accounts and their types that include fixed deposits, recurring deposits, current deposits account, etc. 

Mathematically, the chapter focuses on teaching the students about the calculation of Interest on Recurring deposits using different formulas for the principal for one month, total interest and amount deposited in instalments, etc.

The best way to prepare for the Class 10 ICSE board exam

ICSE, also known as the Indian Council for Secondary Education conducts the annual board exams for Class 10 every year and every year almost more than 2 Lakh students appear for the examination. With this much competition, it becomes extremely important to step up your prep game and strive to do your best in the exam. Here are a few tricks and tips to help you prepare for the Standard 10 ICSE board exam for mathematics:

• Download and have the syllabus at hand’s reach right from the beginning of the year. This helps students to get an estimate of how many portions they are done with and how much is left to cover. Students can download the Class 10 ICSE Maths syllabus from the Vedantu website.

• Focus on formulas. The most common mistake students make while preparing for any mathematics exam is to neglect formulas. They either think they can remember the formulas after reading them once or leave them for last-minute preparation. No matter how important it is to understand the concept, formulas are equally essential.

• Practice sample papers and previous year's question papers to get familiar with the paper pattern. ICSE question paper is made with questions made by the board itself or taken from reference books that 99% of students are unaware of. Therefore, the best way to tackle this situation is to get acquainted with the question format really well.

• Avoid distractions such as social media and internet browsing unless it is for any educational assistance. It is important to focus solely on studying especially as the exam dates draw near.