Question
The interest earned when a sum is invested at simple
interest of 10% p.a., for 3 years, is Rs. 6000. What will be the total amount received after 2 years on investing the same sum at compound interest (compounded annually) of 8% interest p.a.?Solution
Let the sum invested = Rs. Y According to the question, (Y × 3 × 10) ÷ 100 = 6000 So, Y = (6000/0.3) = 20000 So, required amount received = 20000(1 + 8/100)2 = 20000(27/25)2 = Rs. 23328
What are the limitations on the appointment and reappointment of auditors for listed companies under the Companies Act?
The RBI revised its instructions on Bulk Deposits for Urban Co-operative Banks (UCBs) in January 2024. Under this revision, what is the minimum amount ...
A large company wants to estimate the average salary of its employees. Instead of surveying all employees, the HR department randomly selects 200 employ...
What is the loan amount in the education sector for studying abroad that is included in the Priority Sector by the RBI?
The India International Exchange Limited (INDIA INX) is India's first international stock exchange and it is being operated at the International Financi...
What is the purpose of PNB MetLife's newly launched Genius plan?
Which of the following is an online transparent, competitive bidding system to ensure farmers get remunerative prices for their produce?
Calculate the net profit margin based on above information?
What is a Credit Rating Agency (CRA)?
Which of the following cities is ranked second in the Global Financial Centres Index 35 (GFCI 35)?
