Notes and Study material for Exams
Commercial mathematics Banking Banking can be defined literarily as the business activity of accepting and safeguarding Money owned by individuals and entities and release of the money whenever the needs arise by the owner. It is the business of managing money and where money is involved everything must be carefully assessed, valued and … 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 lowest available balance … Read more
DISCOUNT The discount is referred to the reduction in the price of some commodity or service. It may anywhere appear in the distribution channel in the form of modifications in marked price (printed on the item) or in retail price (set by retailer usually by pasting a sticker on the item) or in list price (quoted for the buyer). The discount … 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
–2/”>a >DOCTYPE html PUBLIC “-//W3C//DTD XHTML 1.0 Transitional//EN” “http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd”> Non-Banking financial institutions and their reforms in them since 1990s A Non Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 of India, engaged in the business of loans and advances, acquisition of Shares, stock, Bonds hire-purchase insurance business or chit business … Read more
Budgeting Budgeting is the process of estimating the availability of Resources and then allocating them to various activities of an organization according to a pre-determined priority. In most cases, approval of a budget also means the approval to various spending units to utilize the allocated resources. Budgeting plays a criucial role in the socio-Economic Development … Read more
Understanding the Components of a Budget: A Comprehensive Guide A budget is more than just a list of numbers; it’s a roadmap for your financial future. It helps you allocate your resources effectively, achieve your financial goals, and avoid unnecessary debt. To create a successful budget, you need to understand its key components and how … Read more
Collective Investment Schemes (CIS): A Comprehensive Guide Collective Investment Schemes (CIS) are a popular investment vehicle that allows individuals to pool their money together to invest in a diversified portfolio of assets. This diversification helps to reduce risk and potentially enhance returns. This article will provide a comprehensive overview of CIS, exploring its key features, … Read more
The Certificate of Deposit: A Safe Haven for Your Savings In the ever-evolving landscape of personal finance, where investment options abound, the Certificate of Deposit (CD) stands as a beacon of stability and predictable returns. While it may not offer the explosive growth potential of stocks or the flexibility of a savings account, the CD … Read more