Question
Rs. 2400 is deposited into scheme 'A' offering a simple
interest rate of 25% per annum over a period of 8 years. Simultaneously, Rs. 2500 is placed in scheme 'B' that provides a 20% annual compound interest, with the interest being compounded yearly for 2 years. Calculate the disparity in the interest amounts accrued from these two schemes.Solution
Interest received from scheme ‘A’ = (2400 × 25 × 8)/100 = Rs. 4800 Interest received from scheme ‘B’ = 2500(1 + 20/100)2 – 2500 = Rs. 1100 Required difference = 4800 – 1100 = Rs. 3700
As under Consumer Protection act, the offences shall be tried summarily by ---------
What is the full form of PFA?
 According to the IBC, 2016 any person aggrieved by an order of the ________________may file an appeal to the Supreme Court on a question of law arisin...
What are the consequences of rescission of voidable contract as per the Contract Act?
A sues B for land of which B is in possession, and which, as A asserts, was left to A by the will of C, B’s father. If no evidence were given on eithe...
What is the objective of Order 21 of CPC?
As per the Motor vehicles Act, who is considered as a "driver," especially when one motor vehicle is towing another?
As per the Insurance Act, 1938 the assignment and transfer of insurance polices wholly or in part, whether with or without consideration________________...
Common intention and similar intention was distinguished in the famous case:
Which section of the IRDA Act delas with the Administrative Powers of the Chairperson?