Explanation: PMJJBY is a one-year life insurance scheme renewable from year to year. (June 1 to May 31) offering coverage for death due to any reason. Persons in the age group of 18-50 years having an individual bank or a post office account are entitled to enroll (May 1 to May 31) under the scheme. People who join the scheme before completing 50 years of age can continue to have the risk of life covered up to age of 55 years upon payment of regular premium. Life covers of Rs. 2 Lakh in case of death due to any reason against a premium of Rs. 436/- per annum. Enrolments under the scheme can be done by visiting the branch/ BC point or website of the bank of the account holder or at the post office in case of post office savings bank account. The premium under the scheme is auto debited every year from the subscriber’s bank account based on a one-time mandate from the account holder. After Death, the coverage amount is paid to the nominee or beneficiary listed by the policyholder in case of the policyholder's demise.
A man invests a sum of money in two schemes: Scheme A offers 12% simple interest per annum, and Scheme B offers 15% compound interest per annum. He inve...
The simple interest received on a certain sum is Rs. 400 less than the sum invested. If the sum was invested at 15% p.a. for 5 years, then find the simp...
A man invested ₹40,000 in two schemes A and B offering simple interest at the rate of 8% per annum and 10% per annum respectively. If the total intere...
Rs. 10000 invested for 2 years in a scheme offering compound interest (compounded annually) of 15% p.a. gives an interest that is Rs. 25 less than the i...
Santosh invested Rs.9000 in a scheme for 6 years which is offering 15% simple interest. The amount received after 6 years from scheme B has been investe...
Anjali invested Rs.12000 in a scheme offering compound interest of x% p.a. compounded annually. If at the end of 2 years, interest received by her from ...
The difference between compound and simple interest on a sum of money for 2 years at 4% per annum is Rs. 580. The sum is:
Compound interest on a certain sum of money for 2 years is Rs.2860 while the simple interest on the same sum for the same time period is Rs.2600. Find t...
A certain sum when invested at compound interest (compounded annually) of 8% p.a. for 4 years, gives an interest of Rs. 4879.20. Calculate the approxima...
Naina lent Rs. 9,800 to Mohini for 4 years and Rs. 8,800 to Mitali for 6 years on simple interest at the same rate of interest and received Rs. 11,040 i...
