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101.

Bhuvan made fixed deposit of Rs. 15,000 in a bank, on `1-1-2007` for 2019 days under `12%` per annum simple interest. Find out the maturity value. (in Rs.)A. 15840B. 15328C. 16080D. 16140

Answer» Correct Answer - C
Time period `=219days =(219)/(365)years=3/5years`
Maturity vlaue (in Rs.)
`=15,000((1+((3)/(5)).12)/(100))`
` =15,000+(150)((3)/(5))(12)`
`=15,000+1080=16,080.`
Discussion
102.

Dinesh makes a fixed deposit of Rs. 50,000 in a bank, for one year. If the rate of interest is `12%` per annum, componded half-yearly, then find the maturity value.A. Rs. 66,125B. Rs. 56,180C. Rs. 57.500D. Rs. 63,250

Answer» Correct Answer - B
`(i)A=P(1+(r)/(100))^(r)`
`(ii) Given, P=Rs.500,000,`
n=2 hald=years,
`R=6%` per half-year.
(iii) Use, `A=(1+(R)/(100))^(n)` find the maturity value (A).
Discussion
103.

The function performed by central bankA. currency authorityB. bamker ot the govtC. bamker to commercial banksD. all of these

Answer» Correct Answer - d
Discussion
104.

_______bank nurtures the market for govt securities in indiaA. commerical bankB. central bankC. world bankD. none of these

Answer» Correct Answer - b
Discussion
105.

To control excess demand, CRR isA. decreasedB. increasedC. does not changeD. none of these

Answer» Correct Answer - b
Discussion
106.

Deposit or money multiplier isA. `1/CRR`B. `1/SLR`C. `1/LRR`D. none of these

Answer» Correct Answer - c
Discussion
107.

The rate at which the central bank lends money to commerical banksA. CRRB. SLRC. bank rateD. all of these

Answer» Correct Answer - c
Discussion
108.

To control inflation RBI would increase:A. Bank rateB. Repo rateC. Reverse repo rateD. all of these

Answer» Correct Answer - d
Discussion
109.

RBI is the sole authority to issue currency to ensure:A. uniformity in note circualtionB. build up public faith in the currency systemC. govt control over the money supplyD. all of these

Answer» Correct Answer - d
Discussion
110.

Which of the following is a utility service provided by the Banks? (Issuing traveller cheques/Receiving payment for telephone bills)

Answer» Correct Answer - Receiving payment for telephone bills
Discussion
111.

Banks offer higher rate of interest on savings accounts that fixed deposit accounts. (True/false).

Answer» Correct Answer - False
Discussion
112.

Anil opened a saving account in a bank on `12-11-2008.` His first deposit to his account was Rs. 800 on that day. His second deposit to his account was Rs. 1200 on `9-12-2008.` Find the sum on which he would receive interest at the end of December 2008 (in Rs.)A. 800B. 1200C. 400D. 2000

Answer» Correct Answer - D
Minimum balance from the 10th November to the end of November `=Rs. 0`
Balance in December `=Rs.(800+1200)=Rs.2000`
`therefore` Minimum balance from the `10th December Rs. 2000. Anil will receive interest on the sum of minimum balance i.e., Rs. 2000 at the end of December 2008.
Discussion
113.

Anil opened a saving bank account with a bank on `12-3-2006` with an initial deposit of Rs.1000. He withdrew Rs.300 on `18-3-2006.` the amount, on which he should receive interest for the month of March 2006 is `"_____"` (where the minimum balance of an account is Rs.1000)

Answer» Correct Answer - Rs. 0
Discussion