Question
At what rate percent per annum will Rs. 75,000 yields a
compound interest of Rs. 6,120 in 6 months, if the interest is being compounded quarterly? Calculate the simple interest at the same rate of interest for 18 months.Solution
Let the rate of C.I be R percent per annum, CI = P [ ( 1 + `(R)/(100)` )áµ€ - 1] ⇒ 6,120 = 75,000 [ ( 1 + `(R)/(400)` )2 - 1 ] [T= 6 months = 2 because interest is calculated quarterly] ⇒ `(6120)/(75000)` = ( 1 +`(R)/(400)` ) 2 - 1 ⇒ ( 1 + ) 2 - 1 = `(51)/(625)` ` ` ⇒ ( 1 + `(R)/(400)` ) 2 = 1 + `(51)/(625)` ⇒ ( 1 + `(R)/(400)` )2 = `(676)/(625)` ⇒ ( 1 +`(R)/(400)` )2 = ( `(26)/(25)` )2 ⇒ 1+ `(R)/(400)` = `(26)/(25)` ⇒ `(R)/(400)` = `(26)/(25)` - 1 = `(1)/(25)` R = `(400)/(25)` = 16% Now, S.I = `(P xx R xx T)/(100)` = `(75000 xx 16 xx 18)/(100 xx 12)` = Rs. 18,000
As per the Indian Stamp Act, when an instrument is chargeable with ad valorem duty in respect of any stock or security, on what basis should the duty ge...
As per the provisions of the Stamp Act corporatisation and demutualisation schemes and related instruments _________________
Which of the following new law replaces the IPC and the Evidence Act?
What does the term facts in issue refer to under the Bharatiya Sakshya Adhiniyam?
When must all instruments chargeable with duty and executed by any person in India be stamped?
Any member shall be entitled to be furnished, within _____________ after he has made a request in that behalf to the company, and on payment of such fee...
Under the Registration Act the State Government may also appoint officers to be called _____________, and may prescribe the duties of such officers
All securities held by a depository
As per the General Insurance Business (Nationalization) Act what are the various functions of a Corporation?