banner_ad

Solve

CPT 1107 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
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
01 May 2026
Chartered Accountant

Agrawal Jain & Co.

Raipur

CA

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

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

Search Synergy

Mumbai

CA

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details