## Download ML Aggarwal Solutions for Class 10 Maths Chapter 2 Banking Free PDF

## FAQs on ML Aggarwal Solutions for Class 10 Maths Chapter 2 Banking - PDF

**1. What is simple interest?**

The interest paid on a principal amount following an interest rate without using compounding formula is called simple interest.

**2. What is compound interest?**

An interest calculated by using the compounding formula on a principal amount is called compound interest. The formula has a power function that depicts the year(s) or period of compound interest.

**3. What is the maturity amount?**

The amount offered by a bank that includes the sum of the principal amount and the amount generated applying interest for a particular period is called the maturity amount.

**4. What is a fixed deposit?**

A financial tool where money is capped for a few years to increase in terms of compound interest is called a fixed deposit.

**5. How do banks earn?**

Banks invest the money deposited by users and make a profit from such investments.