Question
RBI asked banks to stop offering teaser loans. What are
teaser loans?Solution
Teaser loans are mortgage loan in which the borrower pays a very low interest rate initially and which increases after a few years. Teaser loans try to entice borrowers by offering an artificially low rate and small down payments, claiming that borrowers should be able to refinance before the increases occur.
A certain sum is invested at an interest rate of 24% per annum, compounded annually, for 2 years, and the compound interest earned after this period is ...
What sum will give Rs. 279 as the difference between simple interest and compound interest at 20% in 1year 6 months compounded half yearly?
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Raju invested a certain sum at 25% p.a. compound interest, compounded annually, and earned an interest of Rs. 2925 in 2 years. Wh...
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- Priya invested Rs. 5,500 in scheme ‘C’ offering simple interest of 12% p.a. After 5 years, she reinvested the interest earned in scheme ‘D’ offerin...
- Ravi deposits Rs. 8,240 on simple interest at 5% per annum for 4 years. If the total amount he gets back is Rs. '2m', then find the product of the digits o...
Rs. 8500 is invested in scheme ‘A’ for 2 years and Rs. 6500 is invested in scheme ‘B’ for 2 years. Scheme ‘A’ offers simple interest of 13% ...
- Neha invested Rs. 25,000 at simple interest of 12% p.a. If she kept withdrawing Rs. 5,000 after every one year, then find the total interest earned by Neha...
Rs. 2,750 is invested in three parts all at simple interest of 7% p.a. These three parts are invested randomly for 1 year, 2 years and 3 years such tha...
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