Question
Rs. 6000 is invested in scheme ‘A’ for 3 years and
Rs. 6000 is invested in scheme ‘B’ for 2 years. Scheme ‘A’ offers simple interest of 13% p.a. If the interest received from both the schemes are equal, then find the rate of simple interest (p.a.) offered by scheme ‘B’.Solution
Interest received from scheme ‘A’ = 6000 × 13 × 3 ÷ 100 = Rs. 2340 Let the rate of simple interest offered by scheme ‘B’ = ‘k%’ p.a. ATQ; 6000 × 2 × k ÷ 100 = 2340 Or, 120k = 2340 Or, k = (2340/120) = 19.5 So, rate of simple interest offered by scheme ‘B’ = 19.5% per annum.
Which Indian bank was instructed by the Reserve Bank of India (RBI) to stop issuing new credit cards due to IT system outages?
Buffer stock’ is the level of stock
Which of the following strategies involves a company buying back its own shares from the market, potentially increasing the value of remaining shares?
When a company sells a fixed asset, the resulting gain from the sale must be categorized appropriately in the financial statements. Understanding the na...
One of the biases that tend to distort appraisals is Halo effect. Halo effect refers to which of the following?
Which of the following pairs is not correctly matched?
Which of the following is NOT one of the three components required for credit risk quantification?
When a Bank sanctions a loan to a large borrower, which of the following risks it may not face?
As per which accounting concept an asset should be valued at ‘Lower of net realizable value’ or ‘Fair value’ ?
In the preparation and presentation of financial statements, certain components are essential to provide a complete and transparent view of a company's ...
Relevant for Exams:
