Question
The interest earned when a sum is invested at simple
interest of 20% p.a., for 3 years, is Rs. 3000. What will be the total amount received after 2 years on investing the same sum at compound interest (compounded annually) of 10% interest p.a.?Solution
Let the sum invested = Rs. Y According to the question, (Y × 3 × 20) ÷ 100 = 3000 So, Y = (3000/0.6) = 5000 So, required amount received = 5000(1 + 10/100)2 = 5000(11/10)2 = Rs. 6050
A company is preparing its annual budget and decides that no department will automatically receive last year’s allocation. Instead, every activity mus...
In cost accounting, there are various methods used to assign costs to different segments of a business. The allotment of whole items of cost to cost cen...
Goods purchased ₹1,00,000. Sales ₹90,000. Margin 20% on cost. Closing Inventory = ?
What is the emphasis in non-punitive reporting culture in reporting procedures?
In the context of leadership communication, what does "active listening" primarily involve?
Security firms are primarily exposed to
What is the primary function of Credit Information Companies (CICs)?
What is the new INR Swap Window support included in the SAARC Currency Swap Framework for 2024-2027?
Under the RBI Integrated Ombudsman Scheme, 2021 , which of the following is not a ground for filing a complaint before the Ombudsman?
...In the MSME Sustainable (ZED) Certification Scheme, which aspect is primarily emphasized at the Silver Certification Level?
