“Sukanya Samriddhi Yojana” , parents or legal guardians can open an account in the name of a girl child below the age of 10 years. The account can be opened with a minimum deposit of Rs. 250 and a maximum deposit of Rs. 1.5 lakh in a financial year. The account matures after 21 years from the date of opening or on the marriage of the girl child after she attains the age of 18 years. The current rate of interest on “Sukanya Samriddhi Yojana” accounts is 7.6% per annum, which is compounded annually. The interest earned on the account is tax-free, and the deposits made in the account are eligible for tax deductions under Section 80C of the Income Tax Act, 1961.
A man invested Rs.Y in a scheme S at 14% rate of simple interest for 7 years. After 7 years, he reinvested the amount received from the scheme S at same...
A man deposited Rs. 9000 at 10% compound interest, compounded annually while Rs. 8500 at 13% simple interest per annum. What will be the difference betw...
Arman Funded an amount at the rate of 6 % for a period of 2 years at C.I. while calculating, the rate of interest was interchanged with the time period ...
A man deposited Rs. ‘x + 800’ at 12% per annum simple interest and earned Rs. 540 as interest after 2 years. Find the interest earned by him if he d...
Suresh earned an interest of Rs. 1548 on principal amount of Rs. 4800 at some rate of compound interest in 2 years. How much more/less interest would he...
The interest received by investing Rs. 1000 for 2 years at compound interest of 20% p.a., compounded annually, was re-invested for 4 years at simple int...
The difference between the simple interest obtained on two principals for a period of 4 years at 5% p.a. rate of interest is Rs.8...
The difference between compound interest and simple interest at the same rate for Rs. 1800 for 2 years is Rs. 18. The rate of interest per annum is:
Rs. 30,000 invested at simple interest of 8% p.a. yields the same interest after 3 years as Rs. 45,000 when invested at simple interest of 'y%' p.a. yie...
Ajay invested a sum of money, represented as Rs. 'x', in a financial plan that yields a 10% annual compound interest. After three years, the total inter...
