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NSE IFSC-SGX Connect, inaugurated by the PM on July 29, 2022, is an essential milestone in the cross-border collaboration between India and Singapore in the area of capital markets. The Connect, likely to be fully operational by June 2023, will play a pivotal role in onshoring derivative trading in NIFTY Products from SGX, Singapore, to NSE-IFSC, GIFT City.
How much time will it take for an amount of Rs.2000 to yield Rs. 640 as interest at 8% p.a. of SI?
A sum of money doubles itself in 5 years at simple interest. In how many years will it become 5 times itself at the same rate of interest?