Question
A man deposited Rs. 25000 at 10% compound interest,
compounded annually while Rs. 24000 at 12% simple interest per annum. What will be the difference between the compound interest and the simple interest earned by him after 3 years?Solution
Compound interest earned by the man in 3 years = 25000 × {(1 + 10/100)3 – 1)} = 25000 × 0.331 = Rs. 8275 Simple interest earned by the man in 3 years = 24000 × 0.13 × 3 = Rs. 8640 Required difference = 8640 – 8275 = Rs. 365
Under the PM Mudra Yojana, which type of loan can be availed for a maximum amount of ₹50,000?
The major aim of the PM Away Yojna Gramin is to provide a pucca house with basic amenities to all rural families, who are homeless or living in kutcha o...
What is the rank of India in Gender Gap report?
The concept of diminishing marginal utility implies that:
What is the percentage of Adjusted Net Banking Credit (ANBC) that domestic banks are required to lend to the weaker section according to the lending re...
What is the new loan limit under the Kisan Credit Card (KCC) modified interest subvention scheme as announced in the Union Budget 2025–26?
Which of the following is NOT a category for the National Gopal Ratna Award?
Which of the following is the investment arm of World Bank?
Which scheme received the Gold Award for Application of Emerging Technologies for Providing Citizen Centric Services at the 26th National Conference on ...
In PMAY-G, the housing unit constructed should be in the name of ________________.
Relevant for Exams:
