Question
Which among the following acts lays down the law
relating to payment of a customer's cheque by a banker and the protection available to a banker?Solution
 The Negotiable Instruments Act, 1881 lays down Laws relating to the payment of a customer's cheque by a banker and the protection available to a banker. The relationship between a banker and customer is the debtor-creditor relationship the banker is bound to pay the cheques drawn by his customer. This duty on the part of the banker, to honor his customers' mandate, is laid down in Section 31 of the Negotiable Instruments Act.
A man invested a certain amount of sum at 15% per annum simple interest and earned an interest of Rs.2100 after 2 years. If the same amount is invested ...
A sum of money grows to Rs. 3,640 in 6 years and Rs. 4,120 in 8 years under simple interest. What is the original principal amount?
What sum of money must be given at simple interest for 8 months at 4% per annum in order to earn Rs. 320 interest?
Compound interest on a certain sum of money for 2 years is Rs.6800 while the simple interest on the same sum for the same time period is Rs.6400. Find t...
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...
Calculate the final amount Poonam will receive if she invests Rs. 2,500 at a compound interest rate of 80% per annum, compounded quarterly, over a perio...
An amount becomes five times of itself in 40 years at simple interest. Find the value of (3R + 10), where R is the rate of interest per annum.
The simple interest on Rs. ‘p’ at 15% p.a. for 2 years is 450 more than the simple interest on Rs. (p + 1000) at 10% p.a. for 2.5 years. Find the co...
Find the rate of simple interest at which Rs. 6000 should be invested for 2 years so that the interest earned will be same as the interest received when...
- Sanjay invested Rs. ‘x’ at the rate of 14% simple interest for 2 years, while Manish invested 50% of x at 12% compound interest per annum for 2 years. ...
Relevant for Exams:
