Question
How do NBFCs contribute to the economic development of
the country?Solution
NBFCs enable the conversion of savings into investments and help in mobilizing funds/resources in the economy. They help in the accumulation of a capital stock for the country, which adds to the national income and results in the progression of GDP. They also play an important role in promoting inclusive growth by catering to the diverse financial needs of bank-excluded customers.
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Find the compound Interest on Rs. 8,000 @15 % p.a for 2 years 4 month Compounded annually?
A sum of ₹8,500 amounts to ₹11,900 in 5 years at simple interest per annum. If the rate of interest is increased by 3%, then the increased amount fo...
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