zPAGE 8 & 9 – DIFFERENT TYPES OF CARDS ISSUED BY BANKS AND THEIR USES

Banks issue different types of cards to make banking transactions easier, faster and safer. These cards
help customers withdraw cash, make payments and shop online.

1. ATM Card

An ATM card is mainly used to withdraw money from Automated Teller Machines (ATMs).

Uses:

 Cash withdrawal

 Balance enquiry

 Mini statement facility

Advantages:

 Easy access to cash anytime

 Saves time at banks

2. Debit Card

A debit card allows customers to make payments directly from their bank account.

Uses:

 Online shopping

 Bill payments

 ATM withdrawals

 Swipe machine payments

Advantages:

 Easy and secure transactions

 No need to carry cash

 Direct deduction from bank account

3. Credit Card

A credit card allows customers to borrow money from the bank for making purchases.

Uses:

 Shopping and travel bookings

 Emergency expenses

 Online transactions

Advantages:

 Buy now and pay later facility

Disadvantages:

 Interest charged on late payment

 Can lead to overspending

4. Prepaid Card

A prepaid card also known as forex card, is a prepaid travel card designed specifically for
international transactions and is loaded with money before use.

Uses:

 Online purchases

 Gift cards

 Travel payments

Advantages:

 Safe and easy to use

 Helps control spending

5. Smart Card

A smart card contains a microchip that stores information securely.

Uses:

 Secure banking transactions

 Metro and transport payments

 Identity verification

Advantages:

 Better security

 Faster transactions

Thus, bank cards have made modern banking more convenient and cashless.

PAGE 10 – THINGS TO BE KEPT IN MIND WHILE DOING ONLINE TRANSACTIONS

Online banking and digital payments are very useful, but customers must be careful while making
online transactions.

Important precautions:

1. Never share your OTP, ATM PIN or password with anyone.

2. Use strong and secure passwords for banking apps.

4. Always check the website or app before making payments.

5. Keep your mobile number updated with the bank.

6. Logout properly after completing transactions.

7. Install antivirus software on devices.

8. Do not click on unknown links or messages.

9. Use trusted and secure payment applications.

10. Regularly check bank statements and transaction history.

11. Immediately inform the bank if any fraud is noticed.

12. Keep ATM cards and cheque books safely.

By following these precautions, people can use online banking safely and securely.

PAGE 11 – MESSAGE AND POSTER ON “AWARENESS ON ONLINE BANKING”

MESSAGE

“Be Smart and Stay Safe While Banking Online!”

Online banking has made our life easier, faster and more convenient. However, we must use online
banking carefully and responsibly. Never share your OTP, password or ATM PIN with anyone. Use only
trusted websites and applications for transactions. Stay alert and protect yourself from cyber frauds
and scams.

Safe Banking Leads to a Safe Future!

POSTER IDEA

Title:

“SAFE ONLINE BANKING”

Things to Draw:

 Mobile phone with a lock symbol

 ATM card and shield

 Laptop showing secure payment

 Warning sign near fraud messages

 QR code payment image

Slogans:

 “Think Before You Click!”

 “Your OTP is Secret!”

 “Secure Banking, Safe Future!”

PAGE 12 TO 15 – SOLVED SUMS

1. Mrs. Shah’s Recurring Deposit

Given:

Monthly deposit = Rs. 250

Time = 3 years = 36 months

Maturity value = Rs. 10110

Total deposit = 250 × 36

= Rs. 9000

Interest = 10110 – 9000

= Rs. 1110

Formula:

I = [P × n(n+1) × r] / 2400

1110 = [250 × 36 × 37 × r] / 2400

1110 = 333000r / 2400

r = 8%

(a) Rate of interest = 8% p.a.

If Mrs. Shah deposited Rs. 50 more:

New monthly deposit = Rs. 300

Interest = [300 × 36 × 37 × 8] / 2400

= Rs. 1332

Extra Interest = 1332 – 1110

= Rs. 222

(b) Extra interest received = Rs. 222

2. Mr. Krishnan’s Recurring Deposit

Given:

Monthly deposit = Rs. 1200

Time = 2 years = 24 months

(i) Qualifying Sum:

Qualifying sum = 1200 × 24 × 25 / 2 × 1/12

= Rs. 30000

(ii) Interest:

I = [1200 × 24 × 25 × 8] / 2400

= Rs. 2400

Total deposit = 1200 × 24

= Rs. 28800

Maturity amount = 28800 + 2400

= Rs. 31200

(iii) Interest at 6%:

I = [1200 × 24 × 25 × 6] / 2400

= Rs. 1800

Reduction in interest = 2400 – 1800

= Rs. 600

Reduction in interest paid by bank = Rs. 600

3. Mr. Ashish’s Recurring Deposit

Given:

Monthly deposit = Rs. 1000

Rate = 10% p.a.

Interest = Rs. 5550

Using formula:

5550 = [1000 × n(n+1) × 10] / 2400

5550 × 2400 = 10000 × n(n+1)

n(n+1) = 1332

n² + n – 1332 = 0

(n + 37)(n – 36) = 0

n = 36 months
Time period = 36 months = 3 years

4. Mr. Ram’s Recurring Deposit

Given:

Maturity amount = Rs. 6455

Time = 1 year = 12 months

Rate = 14% p.a.

Let monthly instalment = Rs. P

Interest = [P × 12 × 13 × 14] / 2400

= 0.91P

Total maturity amount:

12P + 0.91P = 6455

12.91P = 6455

P = Rs. 500

Monthly instalment = Rs. 500

CONCLUSION

Banking is an essential part of modern life and Mathematics plays a major role in banking activities.
Concepts such as interest, deposits and online transactions are all based on mathematical
calculations. Different types of banks, accounts, payment methods and cards help people manage
money safely and efficiently.

Digital banking has made financial transactions faster and more convenient, but people must remain
careful while using online banking services. Through this project, we understand how Mathematics is
used practically in banking and how banking supports the economy and daily life.

ACKNOWLEDGEMENT

I would like to express my sincere gratitude to our respected Principal and Mathematics teacher for
giving me an opportunity to prepare this project on the topic “Banking”. This project helped me to
understand the practical application of Mathematics in daily life and the important role banks play in
the economy.

I am thankful to my Mathematics teacher for her valuable guidance, constant encouragement and
support throughout the completion of this project. Her suggestions and explanations helped me to
complete the project successfully.

I also thank my parents and friends for their help, cooperation and motivation. Lastly, I thank
everyone who directly or indirectly contributed to the successful completion of this project.
INDEX

Sr. No. Topic Page No.

1 Introduction: Banking and Mathematics 1

2 Different Types of Banks 2–3

3 Different Types of Accounts 4–5

4 Different Types of Payments 6–7

5 Different Types of Cards Issued by Banks and Their Uses 8–9

6 Things to be Kept in Mind While Doing Online Transactions 10

7 Awareness on Online Banking – Message and Poster 11

8 Solved Sums on Recurring Deposit 12–15