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2021-04-26 Simple Interest Formula: Simple Interest is one of the important mathematics concepts which is widely used in the banking and financial sectors.Basically, Simple Interest is the concept of the Time Value of Money. In this article, we will provide you with all the necessary information regarding Simple Interest – definition, formula, and solved examples.

Get Price2021-05-26 Interest-on-interest—also referred to as compound interest—is the interest earned when interest payments are reinvested. Compound interest is used in the context of bonds .

Get PriceThe interest rate on fixed deposit is usually calculated using two methods – simple interest and compound interest. Simple Interest: This is a pre-fixed rate of interest at a fixed period of time. It is calculated by multiplying the rate of interest per annum, the principal amount, and the tenure in years.

Get PriceCalculate the compound interest earned for Rs. 1200 invested for 10 years at the rate of 12% per annum. 3.43. On a saving bank account Bank-A pays 3% interest compounded annually. While bank-B pays 6% interest compounded semi-annually on a deposit of Rs. 2000, how much more interest will be earned in 3 years at Bank-B as compared to Bank-A. 3.44. Find the principal of Rs. 9628.20 due at the ...

Get PriceThe prevailing interest rate on home loan is in the range of 7.25% to 8.25% pa depending on loan amount, tenure and credit score of the applicant. Assuming the loan tenure of 20 years, the EMI would be Rs 15808 and Rs 17041 at 7.25% and 8.25% interest respectively. If the tenure is increased to 30 years, the EMI would be Rs 13633 and Rs 15025

Get Price2020-02-22 As of now, the interest rate on Rs 50 lakh fixed deposit range from 6.0% to 7.5% for most large banks (senior citizens get extra, generally additional 0.5% in fixed deposits in all banks).

Get PriceAmount to be paid= x + amount of interest The table will look like this. This amount will be equal to the principal borrowed and interest given on that for 4 months. Example: A device is available for Rs 5000 cash or Rs 500 down payment followed by 4 equal installments. If the rate of interest charged is 25% per annum simple interest

Get PriceCalculate the compound interest earned for Rs. 1200 invested for 10 years at the rate of 12% per annum. 3.43. On a saving bank account Bank-A pays 3% interest compounded annually. While bank-B pays 6% interest compounded semi-annually on a deposit of Rs. 2000, how much more interest will be earned in 3 years at Bank-B as compared to Bank-A. 3.44. Find the principal of Rs. 9628.20 due at the ...

Get PriceSamsung mobile phone is available for Rs.2500 cash or Rs.520 cash down payments followed by 4 equal installments. If the rate of interest charged is 25% per annum Simple interest, calculate the monthly installment a. 520 b. 480 c. 550 d. None of these Show Answer 4. Kishore purchases a track suit for Rs.2400 cash or for Rs.1000 cash down payments and two monthly installments of Rs.800 each ...

Get PriceCalculate the compound interest for Rs 25,000 for 3 years at the rate of 6% per annum compounded annually. A. 4 7 7 5. 4 0. B. 4 7 7 6. 4 0. C. 4 6 6 0. D. None of these. Answer. Correct option is . A. 4 7 7 5. 4 0 ⇒ A = P [1 + 1 0 0 r ] n ⇒ A = R s. 2 5, 0 0 0 × (1 0 0 1 0 6 ) 3 ⇒ 2 5, 0 0 0 × 5 0 5 3 × 5 0 5 3 × 5 0 5 3 ⇒ A = R s. 2 9, 7 7 5. 4 0 ⇒ C I = A − P ⇒ R s. 2 9, 7 ...

Get Price2018-04-25 What is the interest due after 40 days for rs. 3200 at 10% per annum si ? Ask for details ; Follow Report by Pranitha2385 25.04.2018 Log in to add a comment Answers Me Beginner Know the answer? Add it here! musicalsouls Helping Hand; S.I.= P*R*T/ 100 = 3200 - principal; 10% - rate; 40 days - time = 3200*10*40 / 100 = 12800 answer. 3.3 3 votes 3 votes Rate! Rate! Thanks 1. Comments;

Get Price2021-01-21 Interest for rs. 4000 for 2 years is rs. 1120, then the rate of interest is 2 See answers PLEASE ANSWER ITS VERY URGENT meghanasharma842 meghanasharma842 prt=interest. 4000×2×r/100=1120. r=1120×100/4000×2. hence r=14%. thank you soo much! ok kartikmehtani kartikmehtani Answer: 14 percent. Step-by-step explanation: P= 4000 rupees. R = 1120 rupees. T = 2

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Get Price2016-10-06 Since interest is tax deductible, Uncle Sam, in effect, pays part of the cost, and Coleman’s relevant component cost of debt is the after-tax cost: r d (1 – T) = 10.0%(1 – 0.40) = 10.0%(0.60) = 6.0%. (1) What is the firm’s cost of preferred stock? Answer: [Show S10-10 and S10-11 here.] Since the preferred issue is perpetual, its cost is ...

Get Price2014-12-23 For eg., you purchased KVP for Rs 50,000 in 2012. Then in 2016 usually most banks or Post offices provide close to 90-100% of the value of this Rs 50,000 as KVP loan. The rate of interest for KVP loan is usually Base rate +4%. This will usually work out more than the interest rate you earn from KVP itself. Tax implications of Kisan Vikas Patra

Get Price2014-08-08 For instance, the EMI for a principal amount for Rs 1 lakh, 10% interest rate and 12 months tenure is shown in the following table: Considering the above mentioned three governing factors, the EMI payments are directly proportional to loan amount and interest rates and are inversely proportional to the tenure of loan. The higher the loan amount or interest rate, the higher is the EMI

Get PriceTo recall, compound interest can be defined as “An interest on interest to the principal sum of a loan or deposit.” In simple words, the compound interest is the interest that adds back to the principal sum, so that interest is earned during the next compounding period. Here, we will discuss maths compound interest questions with solutions ...

Get PriceCalculate the compound interest earned for Rs. 1200 invested for 10 years at the rate of 12% per annum. 3.43. On a saving bank account Bank-A pays 3% interest compounded annually. While bank-B pays 6% interest compounded semi-annually on a deposit of Rs. 2000, how much more interest will be earned in 3 years at Bank-B as compared to Bank-A. 3.44. Find the principal of Rs. 9628.20 due at the ...

Get PriceA sum of money is lent out at compound interest for two years at 20% per annum, compound interest being reckoned yearly. If the same sum of money was lent out at compound interest at the same rate per cent per annum, compound interest being reckoned half-yearly, it would have fetched Rs. 482 more by way of interest in two years. Calculate the sum of money lent out.

Get Price2019-11-27 Interest can be broken down as: simple and compound. Simple interest: It is the rate set on the principal amount originally lent to the borrower that the borrower has to pay for the ability to use the money. Compound interest: It is the interest on both the principal and the compounding interest paid on that loan.

Get Price2018-04-25 State any six points of importance of office mechanisation. The word_____denotes a function, a task, a discipline. (A) Management (B) Leadership (C) Motivation (D) None of the above With practical illustrations, discuss how managers can leverage on organizational behavior components to maximize business success. What are the differences between the typewriter and the computer

Get PriceA "per annum" interest rate just means the amount of interest charged for one year, as a percentage of the amount borrowed. This doesn't indicate when the interest is due, which will affect the "effective" interest rate. If someone agrees to lend ...

Get Price2017-07-31 Interest is credited on a regular basis in Savings Bank Account irrespective of the operational status of the account i.e. the interest is credited even if it is a dormant account i.e. inactive account. Benefits of State Bank Of India Savings Account. A Savings Account is very beneficial with multiple advantages as detailed below: (1) Earns Interest on your Savings. This is the first and ...

Get Price2014-12-23 For eg., you purchased KVP for Rs 50,000 in 2012. Then in 2016 usually most banks or Post offices provide close to 90-100% of the value of this Rs 50,000 as KVP loan. The rate of interest for KVP loan is usually Base rate +4%. This will usually work out more than the interest rate you earn from KVP itself. Tax implications of Kisan Vikas Patra

Get Price2017-10-29 ICSE IX Mathematics Compound Interest A new car is purchased for Rs. 2,50,000. It's value depreciates at the rate of 10% in the first year, 8% in the second year and then 6% every year.firnd it's value after 4 years Asked by Jainkarishma76 22nd September 2019 2:32 AM . Answered by Expert CBSE VIII Mathematics Comparing Quantities Find the compound interest at the rate of 5% per

Get PriceBad Decision, although most people play safe: Considering the Rate of return on investment is 8.75%(highest rate for citizen upto 60 year of age) compounded annually, you will get ₹8,75,000 annually. Tax bracket of 20% ( with deduction of ₹100000 ...

Get Price2021-05-26 Interest-on-interest—also referred to as compound interest—is the interest earned when interest payments are reinvested. Compound interest is used in the context of bonds .

Get Price2018-12-23 Interest Earned = A-P = Rs. 1,53,778 – Rs. 1,00,000 = Rs.53,778. Always Remember: Higher the compounding periods, greater the interest you will get. The current fixed deposits interest rates are quite low but only compounding can help your money grow. #2. How Banks Calculate Interest on Recurring Deposits

Get PriceInterest on capital is an expense for the business and is added to the capital of the proprietor thereby increasing his total capital in the business. It is not paid in cash or by the bank. Journal entry for interest on capital is; Interest on Capital A/c. Debit.

Get Price2018-09-10 The amount obtained by the way of interest in compound interest = Amount - principal = Rs.(11902.5 - 9000) = Rs.2902.50. Question 2. Ram deposits Rs.2000 each on 1 st January and 1 st July of a year at the rate of 8% compound interest calculated on half-yearly basis. At the end of the year how much amount he would have? A. Rs.2150.50. B. Rs.3182.40 . C. 4243.20. D. 280.40. Compound Interest ...

Get PriceCompound Interest and Depreciation. Interest: It is the additional money besides the original money paid by the borrower to the money lender in lieu of the money used. Principal: The money borrowed (or the money lent) is called principal. Amount: The sum of the principal and the interest is called amount. Thus, amount = principal +interest. Rate: It is the interest paid on Rs 100 for a ...

Get PriceA four year Indira Vikas certificate with a maturity value of Rs. 700 is purchased for Rs. 500. The rate % p.a. is a) 15 %. b) 7 1/2 %. c) 5 %. d) 10 %. e) 7 %. Answer Explanation Suggested Action: Kick start Your Preparations with FREE access to 25+ Mocks, 75+ Videos 100+ Chapterwise Tests. Sign Up Now. Q9.In what time period will Rs. 10,000 earn an interest of Rs. 2,000 at 10 % p.a.? a ...

Get PriceClick here👆to get an answer to your question ️ A man invested Rs. 1000 on simple interest at a certain rate and Rs. 1500 at 2% higher rate. The total interest in three years is Rs. 390 . What is the rate of interest for Rs. 1000 ?

Get Price2020-04-23 SCSS was one of the most lucrative savings schemes but from April 1, 2020, the government slashed the interest rates to an all-time low. Let’s discuss that in detail. SCSS Current Interest Rate 2020-21. The government has revised SCSS interest rates for the 1st quarter of the year 2020-21. You will receive a revised interest rate of 7.4%. The government has made a big cut of 120

Get PriceThe Bank has credited the merchant for Rs 200 as interest and has debited him for Rs 30 as bank charges, for which there are no corresponding entries in the Cash Book. Illustration 4: Ranganath has two accounts with Hanuman Bank, styled Account No. 1 and Account No. 2 On 31st December 2004, his Cash Book showed balances of Rs 5,400 and Rs 2, 70,400 in the two accounts respectively ...

Get Price2014-12-23 For eg., you purchased KVP for Rs 50,000 in 2012. Then in 2016 usually most banks or Post offices provide close to 90-100% of the value of this Rs 50,000 as KVP loan. The rate of interest for KVP loan is usually Base rate +4%. This will usually work out more than the interest rate you earn from KVP itself. Tax implications of Kisan Vikas Patra

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