Question
PM-KISAN mandates the Government to transfer Rs.
________ per year.Solution
Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Under the scheme, the Centre transfers an amount of Rs 6,000 per year, in three equal instalments, directly into the bank accounts of all landholding farmers irrespective of the size of their land holdings. It was launched in February 2019.
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What principal amount, when invested at an annual simple interest rate of 3.6% for 15 years, will generate an interest of Rs. 4,050?
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