Question
A man deposited 25% of his salary to a bank which offers
compound interest at the rate of 10% p.a. If the interest earned by him from the bank after 2 years is Rs. 3360, find the monthly expenditure of the man which is 54% of his monthly salary.Solution
Let the amount of money deposited in the bank be Rs. ‘x’. So, x × [(1.1)2 – 1] = 3360 0.21x = 3360, x = 16000 So, monthly income of man = 16000/0.25 = Rs. 64000 Required monthly expenditure of man = 54% of 64000 = Rs. 34560
According to the RBI recent announcement, the farmers who repay loans promptly under the Kisan Credit cards scheme will get an additional ___ % subsidy.
As per the IFSCA Act the Authority shall maintain proper accounts and other relevant records and prepare an annual statement of accounts in such form as...
How many members of one family can avail financial assistance under PMEGP scheme?
How many companies, as per SEBI Annual Report 2023-24, went public through IPOs in the fiscal year 2023-24?
Which of the following is not considered a part of priority sector lending (PSL) by RBI?
According to the Master Circular on KYC norms issued in January 2024, what is the minimum denomination for the issuance of Non-Convertible Debentures (N...
What is the maximum number of partners allowed in a Limited Liability Partnership (LLP) in India?
Who shall preside over the meetings of IFSCA if the Chairperson is not present?
Where any Trade receivables are financed through Trade Receivables Discounting System (TReDS); the concerned TReDS on behalf of a factor, shall within a...
Prashant is the finance manager in his organisation. He job profile entails various functions, one of them being that of control. Which one of the follo...
Relevant for Exams:
