Question
How is "credit scoring" defined under the Credit
Information Companies (Regulation) Act, 2005?Solution
Section 2. Definitions (g) “credit scoring” means a system which enables a credit institution to assess the credit worthiness and capacity of a borrower to repay his loan and advances and discharge his other obligations in respect of credit facility availed or to be availed by him.
A took a loan of Rs.5520 at simple interest of 25% p.a. and invested the same money in a scheme at simple interest of 35% p.a. Find the profit earned by...
A man invests a sum of money in two schemes: Scheme A offers 12% simple interest per annum, and Scheme B offers 15% compound interest per annum. He inve...
When two equal amounts are deposited for 7 years and 5 years at the rate of 6% and 8% per annum respectively, the difference of their simple interest is...
If a sum when placed at compound interest grows to Rs.6,400 in 2 yrs and to Rs. 8,000 in 3 yrs, find the rate percent p.a.
...- Rahul borrowed Rs. 25,000 from City bank at a simple interest of 10% p.a. If he has to repay Rs. 28,750 after ‘p’ months to clear all his debts, find t...
The simple interest on a sum of Rs X in 5 years is (2/5)of the principal. What is the annual rate of interest?
A man, after making the first investment, earned a total interest of Rs. 1,09,200 at the end of 3 years. He invested a certain amount at an annual compo...
The simple interest received on a certain sum is Rs. 500 less than the sum invested. If the sum was invested at 12% p.a. for 8 years, then find the simp...
A sum of Rs.10 is lent by a child to his friend to be returned in 11 monthly instalments of Rs.1 each, the interest being simple. The rate of interest is:
A certain sum of money becomes 4000 in 6 years and Rs. 5000 in 10 years at any certain rate of simple interest. Find the principal amount.
