banking
This query is : Open
dileepkumar
(Querist)
22 June 2017
Rahul deposited Rs. 2,000 at the end of every month in a bank for five years. The rate of interest is 1% per month. The closest accumulated amount at the end of 5 years will be
CA Rashmi Gandhi
(Expert)
22 June 2017
Amt will be 168000/-
Message likes :
3 times
dileepkumar
(Querist)
22 June 2017
Liz reply with solution
dileepkumar
(Querist)
22 June 2017
piz reply with solution
CA Rashmi Gandhi
(Expert)
22 June 2017
Formula is Principal *(100+Rate/100)™
2000*(101/100)™5*12
2000*(101/100)™5*12
Message likes :
3 times
dileepkumar
(Querist)
22 June 2017
thank you mam
CA Rashmi Gandhi
(Expert)
22 June 2017
Welcome.. .
Message likes :
2 times
dileepkumar
(Querist)
22 June 2017
once more question mam
dileepkumar
(Querist)
22 June 2017
Money Back Finance floated a scheme – “Pay us Rs. 100 per year for 5 years; we will pay Rs. 100 per year forever thereafter” All payments are
made and received at the end of the year. What is the interest rate that MoneyBack Finance is using to offer this scheme? Give the approximate
interest rate range reply with solution
made and received at the end of the year. What is the interest rate that MoneyBack Finance is using to offer this scheme? Give the approximate
interest rate range reply with solution
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