Question
A person invested ₹15000 in a scheme for 3 years at 8%
compound interest, compounded annually. After 3 years, the person decided to withdraw the amount and reinvested it at 5% compound interest, compounded annually, for another 2 years. What will be the total amount after 5 years?Solution
First, calculate the amount after 3 years at 8% compound interest. Formula: A = P * (1 + r/100)^n A = 15000 * (1 + 8/100)^3 = 15000 * (1.08)^3 = 15000 * 1.256 = ₹18840 Now, reinvest ₹18840 at 5% compound interest for 2 years. A = 18840 * (1 + 5/100)^2 = 18895.50 * (1.05)^2 = 18840 * 1.1025 = ₹20771.1 Therefore, the total amount after 5 years is ₹20771 Answer: c) ₹20771
Which of the following is a quasi-contract?
When you evaluate a company's financial ratios in relation to other companies in the same industry, what type of comparison is this?
XYZ Ltd., a listed entity, has only 2 independent directors on its 12-member Board. Audit Committee is formed with 2 independent and 1 executive directo...
What is the minimum number of members required to form a public company?
As per the Companies Act and related Rules, every private company is required to issue securities only in a dematerialised form and facilitate demateria...
The preference shares should be redeemed with in a period of
ABC Pvt. Ltd. entered into a contract with Mr. Rao for supplying machinery worth ₹25 lakhs. After execution of the contract, Mr. Rao became insolvent ...
A buyer and seller entered into a CIF (Cost, Insurance, Freight) contract. The seller shipped the goods and handed over the bill of lading and insurance...
A contract contains an arbitration clause. A dispute arises but one party sues in civil court. What should the court do?
A listed company has an average net profit of Rs. 12 crore in the last 3 years. As per Section 135 of the Companies Act, 2013, which of the following st...
Relevant for Exams:
