Question
The difference between the compound interest and simple
interest accrued over 2 years is Rs. 4,500 when a principal amount is invested at an annual interest rate of 30%, with compound interest being calculated annually. Determine the simple interest earned if the same principal is invested at an annual interest rate of 18% for a duration of 4 years.Solution
Let the sum invested be Rs. '100x' So, the compound interest for 2 years = 100x X 1.3 X 1.3 - 100x = Rs. '69x' Simple interest for 2 years = 100x X 2 X 30 = Rs. '60x' ATQ, So, (69x - 60x) = 4500 So, 'x' = 500 Therefore, required interest = 500 X 100 X 4 X 0.18 = Rs. 36,000
In arbitration proceedings, who is responsible for appointing arbitrators if the parties fail to reach an agreement?
The authority of a partner to bind the firm conferred by Section 19 of the Act is called:Â
A warranty is a stipulation collateral to the main purpose of the contract, the breach of which gives rise to
As per the Insurance Act the Authority may prepare the scheme of Amalgamation of the insurer with any other insurer if it is satisfied that ____________...
According to the Constitution of India, who constitutes the electoral college for the election of the President?
Which Article of the statute of ICJ provides for sources of International Law?
What is the cooling-off period required for a public interest director to become a non-independent director after ceasing to be a public interest direc...
As per Section 20(1) of the General Insurance Business (Nationalisation) Act, what does the acquiring company do with the balance of profit after making...
What is the purpose of IS0 9000:2000?
A company may issue sweat equity shares of a class of shares already issued if authorized by a Special Resolution which shall specify _____________
Relevant for Exams:
