Question
What is the effective interest rate for farmers who
avail both the Prompt Repayment Incentive (PRI) and standard interest subvention under the KCC scheme?Solution
The Government of India provides an interest subvention of 2% per annum with an additional 3% for prompt repayment, effectively reducing the interest rate to 4%.
- A man took a loan at a rate of 18% per annum simple interest. After 42 months, he paid Rs. 9,240 to clear his dues. Find the initial loan amount.
A sum when invested at simple interest of 10% p.a. amounts to Rs. 26,000 after 3 years. If the same sum was invested at simple interest of 8% p.a. for 5...
A man invested a certain amount of sum at 20% per annum simple interest and earned an interest of Rs 3500 after 4 years. If the same amount is invested ...
An investment of Rs. 8,430 is made in a Mutual Fund, offering a 10% per annum simple interest rate for 'p' years, while another investment of Rs. 8,800 ...
If the ratio of the sum invested and simple interest received after 1 year is 20:9 respectively, then find the rate of interest.
Find the difference between compound interest and simple interest on Rs 5,000 for 2 years at 8% per annum (compounded annually).
Anuj invested Rs. ‘x’ at simple interest of 15% p.a. and Anil invested Rs. (x + 500) at simple interest of 10% p.a. If at the end of 2nd year, sum o...
A sum of Rs.6,000 is to be paid back in two equal annual instalments; each instalment is to be paid at the end of every year. How much is each instalme...
A sum when invested at simple interest of 6% p.a. amounts to Rs. 13,600 after 6 years. If the same sum was invested at simple interest of 15% p.a. for ...
Priya invests Rs. ‘X’ for 3 years in scheme-P offering simple interest at 12% p.a., while Rohan invests the same amount for 2 years in scheme-Q offe...
