Question

The minimum amount required to open fixed deposit is
$
  {\text{A}}{\text{. Rs}}{\text{.1000}} \\
  {\text{B}}{\text{. Rs}}{\text{. 500}} \\
  {\text{C}}{\text{. Rs}}{\text{. 2000}} \\
  {\text{D}}{\text{. Rs}}{\text{. 300}} \\
 $

Answer 1

Hint: -To answer this question we should have knowledge about fixed deposit and its rules and its detailed knowledge like minimum amount required and how many documents are required to open fixed deposit.

Complete step-by-step answer:
And hence first we have to understand fixed deposit
Fixed deposit: -
A fixed deposit is a financial instrument provided by banks and other finance companies which provide investors a higher interest. And hence investors are attracted toward fixed deposit.
There are many terms and conditions for fixed deposit and in which minimum amount required is also a condition. It depends on the bank and financial companies how much is kept as a minimum amount.
Generally Rs,1000 is the amount which is required for the fixed deposit in maximum banks and many financial companies.
And hence option A is the correct option.

Note: - Whenever we get this type of question the key concept of solving is we have to have knowledge about terms and conditions of fixed deposit then we can answer this type of questions easily. In fixed deposit there is also a condition of time in which you will get return only if that time has passed before that given time you can’t get your money.