Revised Rate of interest on slab wise SB Deposits (w.e.f 19/07/2021) are as under: SB deposits outstanding Balance. Revised Interest Rates w.e.f 19/07/2021. Up to o/s Rs. 1.00 lakh. 2.75%. Above Rs 1.00 lakh to less than Rs 200 crores. 2.75%. Rs 200 crores and above to less than Rs …

Answer: Principal P = Rs 40,000 Rate of interest r = 8% per annum compounded annually. Compound interest = Rs 4040 Amount = Rs 40,000 + Rs 4040 = Rs 44,040 Let the Compounding cycles = n ie period is n years The relation between amount A, principal P rate of interest …

If we want to compute interest under section 234A on Rs. 8,489 for 3 months and 10 days, then as per Rule 119A discussed above, while computing the amount liable to interest, any fraction of Rs. 100 is to be ignored and, hence, we will ignore Rs. 89 and the balance amount will come to Rs. 8,400. Interest will be computed on Rs. 8,400.

Principal = Rs 8900. Amount = 10324. Time = 2 years . To find: Interest Rate. Solution: Finding Interest: Interest = Amount - Principal . Interest = 10324 - 8900 . Interest = 1424. Finding the Rate: Hence, the Rate percent is 8%

This means you get a monthly interest of Rs 1.17 lakh. If FD interest rate is 7.5%, then you get Rs 15 lakh on a fixed deposit of Rs 2 crore in a year. This means you get a monthly interest of Rs 1.25 lakh. Obviously, the higher the rate of interest, the higher will be your monthly interest income. So you need to find out for which deposit ...

Therefore, the simple interest on Rs 1000 at 10% p.a for two years is Rs 200. In Compound interest class 8, the calculation of compound interest is the same as simple interest every year with the principal (amount on which interest is calculated) renewed each time. If you keep a fixed amount in a bank then every year some interest gets added to it.

Q. Simple interest on an amount at 4% per annum for 13 months is more than the simple interest on the same sum for 8 months at 6% per annum by rs 40. what is the principal amount? A. The Principal Amount is Rs 12000. Explanation: Interest for 13 months at 4% Interest per year = 4% interest per month = 4 ÷ 12 = 1/3 %

With what rate of compound interest of Rs 4500 in two years yield 945 as an interest? PLEASE UPVOTE if you find this helpful. THANK YOU. A = P*(1+r/n)^(n*t) If interest is compounded monthly then n = 12 P = 4500, r is the unknown, t = 2 P*(1+r/n)^...

Answer (1 of 6): 5 paise interest means you will be charged 5 paise as interest for every rupee you borrow. For example When You borrow Rs.100 100 has 100 ONE RUPEES. => 100 (ONE RUPEES) × 0.05 (5 PAISE)= Rs.5 => you will be charged Rs.5 for Rs. 100 => so you will be given Rs…

A sum of Rs. 725 is lent at the beginning of a year at a specific rate of interest. After eight months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both loans. What was the actual rate of interest? Simple interest on a certain sum is 16/25 of the sum.

Answer: Sum(P)=Rs.20,000 Rate of interest (R)=10% I=R/100=10/100=0.1 73 days=73/365=1/5years.. ( assuming 1year=365 days) Period (N)=2years and 73 days=2 1/5 years Step 1 Find the amount for 2 years using compound interest formula A=P(1+I)n A=20000(1+0.1)^2=20000(1.1)^2=20000*1.21 =Rs242...

Compound Interest = Total amount of Principal and Interest in future (or Future Value) less Principal amount at present (or Present Value) Compound Interest = P [ (1 + i) n – 1] P is principal, I is interest rate, n is number of compounding periods. An investment of Rs 1,00,000 for 5 years at 12% rate of return compounded annually is worth Rs ...

Answer (1 of 4): according to the question we know that formula => => [(1+0.2)²-1] => 0.0404 so, Interest be 20000×0.0404 => 808 I hope it's help you

Answer (1 of 3): Good question. Even I had this until I came out of college.this question is very common when we speak interest interms of % while in reality people speak in Rupee (like 1 rupee interest or 2 rupee interest) Coming to the answer, 1 rupee interest means 1rupee is paid as interes...

Compound Interest = P (1 + r) t - P Where P is the principal, r is the rate of interest and t is the time period. = 2400 (1 + 20%) 2 - 2400 = 2400 (1 + 20/100) 2 - 2400 = (2400 × 36/25) - 2400 = Rs. 1056

A sum of Rs. 725 is lent at the beginning of a year at a specific rate of interest. After eight months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both loans. What was the actual rate of interest? Simple interest …