APSC Prelims and Mains Notes, APSC Test Series
calculation of interest on/in savings account, fixed deposit account and recurring deposit account Saving account Interest rate calculation Formula Daily interest = Amount (Daily balance) * Interest (3.5/100) / days in the year. Earlier method of interest rate calculation Earlier, banks would pay interest at the rate of 3.5% p.a. on the … Read more
calculation of interest on/in savings account, fixed deposit account and recurring deposit account Saving account Interest rate calculation Formula Daily interest = Amount (Daily balance) * Interest (3.5/100) / days in the year. Earlier method of interest rate calculation Earlier, banks would pay interest at the rate of 3.5% p.a. on the … Read more
MATHEMATICS AND QUATITUATIVE APTITUDE – SIMPLE INTEREST Introduction Money is not free and it costs to borrow the money. Normally, the borrower has to pay an extra amount in addition to the amount he had borrowed. i.e, to repay the loan, the borrower has to pay the sum borrowed and the interest. Lender … Read more
Compound Interest Let Principal = P, Rate = R% per annum, Time = n years. When interest is compound Annually: Amount = P 1 + R n 100 When interest is compounded Half-yearly: Amount = P 1 + (R/2) 2n 100 When interest is compounded Quarterly: Amount = … Read more
West Asia is a very important partner in our growth story. It has huge strategical and economical relevance for India. West asia absorb huge amount of labour( lower section). Around 7 million Indian works in West Asia. It provide huge amount of remittance and hence it is of great importance. West Asia also ensure our … Read more
Interest subvention scheme was launched to make available agricultural credit for short term crop loans at an affordable rate to give boost to agriculture productivity and production in the country. The salient features of the scheme are as follows: It provides concessional of 2% per annum for crop loans to farmers, upto Rs. 3 … Read more
Introduction Money is not free and it costs to borrow the money. Normally, the borrower has to pay an extra amount in addition to the amount he had borrowed. i.e, to repay the loan, the borrower has to pay the sum borrowed and the interest. Lender and Borrower The person giving the money is … Read more