Solve

CPT 1118 views 4 replies

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 :

ans: Rs.11764.50.

Replies (4)
Simple steps of solving using a calculator:- 500 multiplied by 1.1 (i.e.1 + 0.10)=550, press M+, repeat the operation i.e. 550 multiplied by 1.1, press M+, repeat the same operation i.e *1.1 and press M+ for 12 times. Press Memory recall( MRC), you will get the answer. Note: There may be a minor rounding off difference.

 

Month Investment Interest Gross Value
1           500.00               50.00            550.00
2           500.00             105.00        1,155.00
3           500.00             165.50        1,820.50
4           500.00             232.05        2,552.55
5           500.00             305.26        3,357.81
6           500.00             385.78        4,243.59
7           500.00             474.36        5,217.94
8           500.00             571.79        6,289.74
9           500.00             678.97        7,468.71
10           500.00             796.87        8,765.58
11           500.00             926.56      10,192.14
12           500.00         1,069.21      11,761.36

 

  OB Deposit Intt @ 10% CB
Year1                   -         500.00                 -            500.00
Year2          500.00       500.00          50.00      1,050.00
Year3      1,050.00       500.00       105.00      1,655.00
Year4      1,655.00       500.00       165.50      2,320.50
Year5      2,320.50       500.00       232.05      3,052.55
Year6      3,052.55       500.00       305.26      3,857.81
Year7      3,857.81       500.00       385.78      4,743.59
Year8      4,743.59       500.00       474.36      5,717.94
Year9      5,717.94       500.00       571.79      6,789.74
Year10      6,789.74       500.00       678.97      7,968.71
Year11      7,968.71       500.00       796.87      9,265.58
Year12      9,265.58       500.00       926.56    10,692.14
Year13    10,692.14                -      1,069.21    11,761.36

pls send me module -I solve question paper for Dec. 2010 & June 2010


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details