MATHS PROJECT

NAME: SHIVANI S GOWDA

CLASS: X
SEC: A
ROLL NO.: 13
 INDEX
• CERTIFICATE
• ACKNOWLEDGEMENT
• STUDY OF VARIOUS TYPES OF BANKS
ACCOUNTS AND RATE OF INTEREST OFFERED
 INTRODUCTION
 TYPES OF BANK ACCOUNTS
 FORMULAE
 RATES OF INTEREST OFFERED
• PLANNING A HOME BUDGET
• INTRODUCTION
 TYPES OF BUDGETS
 PERSONAL BUDGET
 HOME BUDGET FOR GUPTA FAMILY
 FOR THE MONTH OF JANUARY
 GRAPHS
• CONCLUSION
• BIBLIOGRAPHY

CERTIFICATE
This is to certify that Shivani S Gowda of
class X – A has completed this computer
project on the topics mentioned and
prescribed by MR. Srinivasa N sir, during
the academic session 2022 - 2023 as per
the guidelines issued by ICSE.

MR. SRINIVASA N EXTERNAL

SIR EXAMINER
 ACKNOWLEDGEMENT
I would like to express my special thanks of
gratitude to my mathematics teacher MR.
SRINIVASA N gave me the golden
opportunity to do this wonderful project,
which also helped me do a lot of research
and I came to know about so many new
things. I am thankful to him.
Secondly, I would also like to thank my
parents and friends who helped me in
completing this project.
A SURVEY OF VARIOUS TYPES OF
BANK ACCOUNTS AND RATES OF
INTEREST OFFERED.
AN INTRODUCTION
A Bank may be defined as a company that
collects public money in the form of deposits
and lends the same to borrowers. It is an
institution that provides facilities for safe
keeping, lending and transfer of money.
According to Crowther,
“The banker’s business is to take the debts
of other people to offer his own in
exchange and thereby create money.”
According to R.P. Kent,
“An organisation whose principal operations
are concerned with the accumulation of the
temporarily idle money of the general public
to advance to others for expenditure.”
 TYPES OF BANK
ACCOUNTS
Bank accounts are classified into four
different types. They are,

1. Saving Account
2. Current Account
3. Recurring Deposit Account
4. Fixed Deposit Account

1. Saving Account: - A savings account is

an interest-bearing deposit account
held at a bank or another financial
institution that provides a modest
interest rate.
2. Current Account: - Current account is
opened by businessmen who have a
 higher number of transactions with the
bank. It includes deposits, withdrawals
and contra transactions. Current
accounts can be opened in cooperative
banks and commercial banks.
3. Recurring Deposit Account: - In a
recurring deposit account, a certain
fixed amount is accepted every month
for a specified period and the total
amount is repaid with interest at the
end of the particular fixed period.
4. Fixed Deposit Account: - The account
which is opened for a particular fixed
period (time) by depositing a particular
amount (money) is known as a Fixed
(term) Deposit Account. It means that
the deposit is fixed and is repayable
only after a specific period is over.

HERE WE WILL DISCUSS ONLY ABOUT

RECURRING DEPOSIT ACCOUNTS.
 FORMULAE
The interest on the recurring deposit
account can be calculated by using the
formula:

n(n+1) r
I = P* 2*12 *100

Where I is the (simple) interest, P is the

money deposited per month, n is the
number of months for which the money has
been deposited and r is the (simple) interest
rate per cent per annum.
The maturity value of a recurring deposit
account can be calculated by using the
formula:
MV = P*N + I
Where MV is the maturity value, P is the
money deposited per month, n is the
number of months for which the money has
been deposited and I is the simple interest.
 RATES OF INTEREST
OFFERED
 PLANNING A
HOME BUDGET
INTRODUCTION
A budget is an estimation of revenue and
expenses over a specified future period; it
is compiled and re-evaluated periodically.
Budgets can be made for a person, a family,
a group of people, a business, a
government, a country, a multinational
organization or just about anything else
that makes and spends money. At
companies and organizations, a budget is
an internal tool used by management and is
often not required for reporting by external
parties.
TYPES OF BUDGET
1. Sales budget: A sales budget estimates
the sales in units as well as the estimated
earnings from these sales. Budgeting is
important for any business. Without a
budget, companies can’t track processes
or improve performance.
2. Production budget: A production budget
is a financial plan that lists the number of
units to be manufactured during a period.
In other words, this is a report that
estimates the number of units that a
plant will produce from period to period.
3. Capital budget: Capital budget is used to
determine whether an organization's
long-term investments such as new
machinery, replacement machinery, new
 plants, new products, and research
development projects are worth
pursuing.
4. Revenue budget: The revenue budget
consists of revenue receipts of the
government and the expenditure met
from these revenues. Tax revenues are
made up of taxes and other duties that
the government levies.
PERSONAL BUDGET
A personal budget or home budget is a
finance plan that allocates future personal
income towards expenses, savings and
debt repayment. Past spending and
personal debt are considered when
creating a personal budget. There are
several methods and tools available for
creating, using and adjusting a personal
budget. For example, jobs are an income
source, while bills and rent payments are
expenses.
HOME BUDGET FOR
GUPTA FAMILY
• Family’s name: Gupta’s
• No. of Family members: 4
• No. of earning members: 1
• Maid: 1 (part-time)
• No. of children studying: 2
• No. of mobile phones: 3
• No. of Vehicles: 2 (1 four-wheeler, 1 two-
wheeler)
• House owned
• Designation of earning members: Father:
Businessman
FOR THE MONTH OF
JANUARY
Category Amount
Total income 70000
Taxes 10000
Actual income 60000
House maintenance 3000
Grocery + fruits + 8000
vegetables

Milk 1500
Electricity + water 4000
Conveyance 500
Clothing 2500
School fees 8500
Entertainment 2000
Automobile 2500
Mobiles 1000
Maid 1000
Repairs 1000
Travelling 1500
Laundry 500
Shopping 2000
Stationary 500
Medical 2000
Total 42000
Savings 18000
Yearly savings 216000

BAR GRAPH
CONCLUSION
By doing this project I got information on
“Various types of bank accounts and rate of
interest offered” and “planning a home
budget”. I got information about types of
bank accounts, formulas to calculate the
rates of interest, types of budgets, what is
personal budgets, etc.

BIBLIOGRAPHY
I visited:
  www.meritnation.com
 www.wikipiedia.com
 www.scribed.com

and taken information from various books.