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34. Which yields the higher rate of interest-a fixed deposit in a bank which gives Rs. 1,629 after 5 years for every Rs. 1,000 deposited or a National savings certificate which gives Rs. 1,901 after 6 years for Rs. 1,000 ? [Ans. FD : 10.24%, NSC : 11.28%]

34. Which yields the higher rate of interest-a fixed deposit in a bank which gives Rs. 1,629 after 5 years for every Rs. 1,000 deposited or a National savings certificate which gives Rs. 1,901 after 6 years for Rs. 1,000 ? [Ans. FD : 10.24%, NSC : 11.28%]

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 2E
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[Ans. Rs. 6,151.52] 34. Which yields the higher rate of interest-a fixed deposit in a bank which gives Rs. 1,629 after 5 years for every Rs. 1,000 deposited or a National savings certificate which gives Rs. 1,901 after 6 years for Rs. 1,000 ? [Ans. FD : 10.24%, NSC: 11.28%] 35. Mr. A has a right to receive an amount of Rs. 1,000 at the end of 12 years from now. This right has been sold to Mr. B for a present value calculated at the rate of 8% per annum. The money thus received was invested by Mr. A in a deposit account at 9% per annum payable half-yearly. After 8 years the account had to be closed and then Mr. A invested the amount available at 6% per annum in another bank. How much has Mr. A gained or lost in this transaction, as at the end of 12 years ? [Ans. Gain of Rs. 13.90] To lo aul
Transcribed Image Text:[Ans. Rs. 6,151.52] 34. Which yields the higher rate of interest-a fixed deposit in a bank which gives Rs. 1,629 after 5 years for every Rs. 1,000 deposited or a National savings certificate which gives Rs. 1,901 after 6 years for Rs. 1,000 ? [Ans. FD : 10.24%, NSC: 11.28%] 35. Mr. A has a right to receive an amount of Rs. 1,000 at the end of 12 years from now. This right has been sold to Mr. B for a present value calculated at the rate of 8% per annum. The money thus received was invested by Mr. A in a deposit account at 9% per annum payable half-yearly. After 8 years the account had to be closed and then Mr. A invested the amount available at 6% per annum in another bank. How much has Mr. A gained or lost in this transaction, as at the end of 12 years ? [Ans. Gain of Rs. 13.90] To lo aul
which gives Rs. Mr A has a right to receive an amount of Rs. 1,000 at the end of 12 years from now. This right has been sold to Mr. B for a present value calculated at the rate of 8% per annum. The money thus received was invested by Mr. A in a deposit account at 9% per annum payable half-yearly. After 8 years the account had to be closed and then Mr. A invested the amount available at 6% per annum in another bank. How much has Mr. A gained or lost in this transaction, as at the end of 12 years ? [Ans. Gain of Rs. 13.90] 1o ster lamTs ns dn hoa om to oulav a ner 010m babauog alih 0.00 01 l 000
Transcribed Image Text:which gives Rs. Mr A has a right to receive an amount of Rs. 1,000 at the end of 12 years from now. This right has been sold to Mr. B for a present value calculated at the rate of 8% per annum. The money thus received was invested by Mr. A in a deposit account at 9% per annum payable half-yearly. After 8 years the account had to be closed and then Mr. A invested the amount available at 6% per annum in another bank. How much has Mr. A gained or lost in this transaction, as at the end of 12 years ? [Ans. Gain of Rs. 13.90] 1o ster lamTs ns dn hoa om to oulav a ner 010m babauog alih 0.00 01 l 000
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ISBN:
9781305115545
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James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
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