CCI Online Learning
What do you want to learn today?
     
CIBIL

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Solve


intermediate(ipc)course (no)     06 October 2011

intermediate(ipc)course
no 
 39 likes  1460 points

| My Other Post

a person invests Rs.500 at the end of each year with a bank which pays interest at 10% p.a.c.i annually.the amount standing to his credit one year after he has made his yearly investment for the 12th time is ?

avater

Swapnil Jain (Finance - FP&A)     06 October 2011

Swapnil Jain
Finance - FP&A 
 64 likes  564 points

View Profile | My Other Post

i think the answer to this is Rs 10680...though i m not too good at maths....

note- i have calculated interest and amount both upto 12th year and for the 13th year as u have asked one year after i have taken into account only the intreset amount.....

avater

intermediate(ipc)course (no)     06 October 2011

intermediate(ipc)course
no 
 39 likes  1460 points

View Profile | My Other Post

please clarify the math......

avater

Swapnil Jain (Finance - FP&A)     06 October 2011

Swapnil Jain
Finance - FP&A 
 64 likes  564 points

View Profile | My Other Post

500*12+39000*12/100

 

500 is the principal for 12 years (i assumed that 13th year only intrest accrued and no princiapal was deposited)

 

39000 in the way that - for the first year no interest 

2nd year - interest on500 @ 12 %

3 rd year- Intt on1000 @ 12%

 

and so on

 

Pardon me!! I took the interest @ 12%....

Daman Jeet (AM)     20 September 2012

Daman Jeet
AM 
 21 points

View Profile | My Other Post

Sir Kindly mail me the solved test papers of CS Executive 2011&2012 Thanks in Advance

avater

Hadi Husain Husaini (IDT Consultant)     02 July 2013

Hadi Husain Husaini
IDT Consultant 
 3 likes  99 points

View Profile | My Other Post

The formula for Future Value of Annuity is : F.V =  Annuity x ( ( ( 1 + (R.O.I) ) ^ T - 1) / R.O.I)

R.O.I is 10%

Annuity is 500

Time is 12 years

Therefore on substituting : F.V of Annuity would be = Rs. 10692.14

but interest for the year after the 12th investment will also have to be added which would come to 1069.214 @ 10% p.a

Therefore amount standing to his credit would be = Rs. 11761.36

avater

Padmasandhya S (Student)     15 May 2015

Padmasandhya S
Student 
 34 points

View Profile | My Other Post

but when you say c i amount of 12 years it already includes the 12th year interest also right?

avater

DKG Dexterous Zone (Institute)     01 November 2018

DKG Dexterous Zone
Institute 
 32 points

View Profile | My Other Post


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Related Threads


Loading

Popular Discussion


view more »





Download the latest Question Papers for free

click here





Trending Tags

GST Live Class    |    x