Question
A man invests Rs X in a scheme at 12% rate of interest
for 8 years. After 8 years he reinvests the amount received at same rate of interest for same time duration. If interest received from reinvestment is Rs 5730.40 more than Rs X. Find the value of X?Solution
Let the principal be Rs. 100x. SI = (100x × 12 × 8)/100 = 96x Amount = 100x + 96x = 196x Therefore, ATQ (196x/100) × (96/100) – X = 5730.40 x{(196 × 96 – 10000)/10000} = 5730.40 so, x = 6500
According to a report by India Ratings and Research, when will India join the coveted club of upper-middle-income countries, and what is the estimated s...
What provision is required for substandard infrastructure loan accounts?
The Prime Minister’s Task Force on MSMEs has set annual lending targets for banks. What is the recommended year-on-year growth in credit and accounts ...
The ICAAP is required to form an integral part of the management and decision-making culture of a bank. What does ICAAP stands for?
Which financial institution received an NBFC license from RBI to issue loans directly from its own books?
Which of the following best describes Capital Account Convertibility ?
Which analysis involves the comparison between the current and historical financial performance and the evaluation of developing trends.
Which institution serves as the apex development financial institution for housing in India, responsible for promoting and regulating housing finance co...
.......... represents that quantity of material which is normally ordered when a particular material reaches the ordering level.Â
Which ministry conducts the Annual Survey of Industries (ASI) in India?
