Question
Under the Payment of Gratuity Act, 1972, gratuity
becomes payable to an employee who has completed at least:Solution
Section 4 of the Act states that gratuity becomes payable when an employee completes five years of continuous service. This period is mandatory in normal cases such as resignation, retirement, or superannuation. The only exception is death or disablement, where gratuity is payable even without five years’ service.
The excess of compound interest (annual compounding) over simple interest on a principal for 2 years at 10% p.a. is Rs. 200. Find the principal.
A certain sum of money becomes 8000 in 6 years and Rs. 9240 in 10 years at any certain rate of simple interest. Find the principal amount.
- A person invested Rs. ‘x’ in account A and Rs. ‘x/2’ in account B. Account A gives 4% simple interest per annum while account B gives 7%. After 5 y...
- A man borrowed Rs. 5,300 at an annual compound interest rate of 12%, compounded yearly. He repaid the loan in two equal yearly installments. What was the a...
A sum of ₹12,000 is invested at an annual interest rate of 10% for 2 years. What is the difference between the compound interest and simple interest a...
A sum doubles in 20 years at simple interest. What is the rate of interest?
A man invests 40% of a certain amount at a simple interest rate of 17% per annum, 60% of the remaining amount at a simple interest rate of 20% per annum...
A woman invested a certain amount in scheme 'A' at simple interest of 18% p.a. for 4 years. She then reinvested the total amount received in scheme 'B' ...
A man invested Rs. 'B' at simple interest of 18% and Rs. 'B + 4000' at simple interest of 14% p.a., for 4 years each. If the interest earned from both i...
‘When Rs. (a + 800) is invested at 30% p.a. simple interest for 5 years it gives an interest of Rs. (4a + 900). Find the value of ‘a’.
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