Question 36 of 37
Q.Identify and explain the concept from the given illustration:
Tina deposited a lumpsum amount of ₹ 50,000 in the bank for a period of one year.
Maharashtra MsbshseMaharashtra HSC (MSBSHSE) Board 2026Subjective· 2mImportance★★★★★
97% · 36/37 Questions
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Start your 14-day free trial to unlock the full solution →A lump sum kept in a bank for a fixed one-year period = Fixed (Time) Deposit.
A fixed deposit (also called a term or time deposit) is an amount placed in a bank for a fixed, pre-decided period at an agreed rate of interest; it cannot ordinarily be withdrawn before maturity without penalty. Tina deposits a lump sum of 50,000 rupees for one year, which is exactly a fixed deposit.
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