Question
A Motorbike can be purchased on cash payment of Rs.
30000. But the same Motorbike can also be purchased on the cash down payment of Rs 7000 and the rest can be paid in three equal annual instalments of Rs. 8000 for next three years. Find the rate of simple interest?Solution
Cash Price = 30000 Less Cash Down Payment = (7000) Balance = 23000 First Installment = (8000) Balance = 15000 Second Installment = (8000) Balance = 7000 Third Installment = (8000) Balance = (1000) Now Interest on First year = (23000 × r ×1 )/100 Interest on Second year = (15000 × r ×1)/100 Interest of Third year = (7000 × r ×1 )/100 Now, according to the question (23000 × r ×1 )/100+ (15000 × r ×1)/100+ (7000 × r ×1 )/100=1000 (1000r (23+15+7))/100=1000 45r/100=1 r= 100/45 = 2 2/9%
Compared to investing in a single security, diversification provides investors a way to _______
A ___________ is a type of letter of credit which authorises the Advising Bank, to transfer the credit available to one or more other beneficiaries at t...
From the following details, calculate interest coverage ratio:
Net Profit after tax Rs. 60,000; 15% Long-term debt 10,00,000; and Tax rate= 40%
Which of the following is NOT one of the seven priorities on which the budget proposal of 2023-24 rests?
The partners’ liability in a partnership is _____
People who are disciplined and organised belong to which type of personality as per the OCEAN Model?
Which of the following transformations is most appropriate to bring all feature values into the range [0,1] for a machine learning model?
In a leveraged buyout (LBO), what is the primary source of funds used for the acquisition of a company?
What will be the working capital if Cash & Bank Rs.20,000; Debtors Rs.2,00,000; Creditors Rs.1,00,000; Bills Payable Rs.50,000 and Stock is Rs.2,80,000.
Compute the payoff to the long and short positions in a forward contract, given that the forward price is Rs 35 and spot price at the maturity is Rs 50
