Question
A man deposited Rs. 22000 at 10% compound interest,
compounded annually while Rs. 21500 at 12% simple interest per annum. What will be the difference between the compound interest and the simple interest earned by him after 3 years?Solution
Compound interest earned by the man in 3 years = 22000 × {(1 + 10/100)3 – 1)} = 22000 × 0.331 = Rs. 7282 Simple interest earned by the man in 3 years = 21500 × 0.13 × 3 = Rs. 7740 Required difference = 7740 – 7282 = Rs. 458
Regarding DigiLocker, sometimes seen in the news, which of the following statements is/are correct?
1. It is a digital locker system offered by t...
By when did the Reserve Bank of India (RBI) direct all banks to ensure full compliance with KYC provisions, as per the guidelines introduced in 2002?
RBI recently mandated that the NBFCs must constitute nomination and remuneration committee (NRC) and this NRC will ensure the implementation of ICAAP- a...
Stand Up India Scheme provide financial aid for Working Capital needs through which organisation?
Which one of the following is a purpose of ‘UDAY’, a scheme of the Government?
What is the primary objective of the Open Network for Digital Commerce (ONDC)?
In the parlance of financial investment the term ‘bear’ denotes
Which of the following can be defined as a solution that enables banks to offer a multitude of customer-centric services on a 24x7 basis?
Pradhan Mantri Matsya Sampada Yojana (PMMSY) was launched in ________________.
Consdier the following statement about International Food Policy Research Institute (IFPRI):
I. IFPRI was established in 1976.
II. It prov...