Start learning 50% faster. Sign in now
Components of MIS and their relationship A management information system is made up of five major components namely people, business processes, data, hardware, and software. All of these components must work together to achieve business objects. People– these are the users who use the information system to record the day to day business transactions. The users are usually qualified professionals such as accountants, human resource managers, etc. The ICT department usually has the support staff who ensure that the system is running properly. Business Procedures– these are agreed upon best practices that guide the users and all other components on how to work efficiently. Business procedures are developed by the people i.e. users, consultants, etc. Data– the recorded day to day business transactions. For a bank, data is collected from activities such as deposits, withdrawals, etc. Hardware– hardware is made up of the computers, printers, networking devices, etc. The hardware provides the computing power for processing data. It also provides networking and printing capabilities. The hardware speeds up the processing of data into information. Software– these are programs that run on the hardware. The software is broken down into two major categories namely system software and applications software. System software refers to the operating system i.e. Windows, Mac OS, and Ubuntu, etc.
A certain sum of money becomes Rs. 1500 in 1 year and 2800 in 3 years at certain rate of simple interest. Find the sum of money invested.
The interest earned when a sum is invested at simple interest of 10% p.a., for 3 years, is Rs. 6000. What will be the total amount received after 2 year...
A man deposited 25% of his salary to a bank which offers compound interest at the rate of 10% p.a. If the interest earned by him from the bank after 2 y...
A took a loan of Rs.5320 at simple interest of 20% p.a. and invested the same money in a scheme at simple interest of 30% p.a. Find the profit earned by...
Two persons A and B invest money in two schemes. A invests Rs. 6000 for 2 years in R% CI per annum. B invests Rs.7000 for 2 years in 20% CI per annum. I...
A person named 'P' invested Rs. 48,000 in an SIP called 'X', which provides compound interest at a rate of 50% per annum, compoun...
Amit invested ₹8000 into a SIP that earns simple interest at 12% annually for 3 years. Pawan deposited an unknown amount in a S...
The savings of Arun and Bhaskar are same. The difference between the expenditure of Bhaskar and the savings of both Arun and Bhaskar together is 0. The ...
A sum of Rs. 4000 is invested at simple interest for 2 years. If the rate interest for first year is 15% p.a. while 25% p.a. for second year, then find ...