PVS (Prashant V Shah)

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Archive for August, 2014

Important Questions – General

Posted by Prashant Shah on August 14, 2014

1.

Mr. A invests Rs.50,000 pa in debt mutual fund which gives 8.5% return pa. Investment will increase at 10% pa. Mr. B is investing Rs.40,000 in the same debt mutual fund along with investing Rs.10,000 in growth oriented equity fund which has return of 11% pa with same growth rate in investment and for the same investment period. The difference between the effective return earned is

Solution:

Mr. A will earn the effective return of 8.5%

For Mr. B will earn the effective return of 8.5%

Hence the difference is 9.06-8.5 = 0.56%

 

2.

Mr. A took loan on 1st July 2009 of Rs.30 lakh at 10.25% floating rate for 20 years. Bank intimated that his interest rate has increased to 11% with effect from Jan 2011, thus causing an increase in EMI to end loan with same tenure. He negotiated with bank and his interest rate was reduced to 10.5% from March 2011 along with 1% processing fee on sanctioned loan. Calculate absolute amount saved due to refinancing.

LOAN 1ST JULY 3000000
EMI $29,449.30
OPENING INT EMI CAP O/S
1 3000000 25625 29449.3 3824 2996176
2 2996175.7 25592 29449.3 3857 2992319
3 2992318.734 25559 29449.3 3890 2988429
4 2988428.823 25526 29449.3 3923 2984506
5 2984505.686 25493 29449.3 3957 2980549
6 2980549.039 25459 29449.3 3990 2976559
7 2976558.595 25425 29449.3 4025 2972534
8 2972534.067 25390 29449.3 4059 2968475
9 2968475.162 25356 29449.3 4094 2964382
10 2964381.587 25321 29449.3 4129 2960253
11 2960253.046 25285 29449.3 4164 2956089
12 2956089.241 25250 29449.3 4199 2951890
13 2951889.87 25214 29449.3 4235 2947655
14 2947654.629 25178 29449.3 4271 2943383
15 2943383.213 25141 29449.3 4308 2939075
16 2939075.311 25105 29449.3 4345 2934731
17 2934730.613 25067 29449.3 4382 2930349
18 2930348.803 25030 29449.3 4419 2925930
NEW EMI@11% $30,896.15
1 2925930 26821 30896 4075 2921854
2 2921854 26784 30896 4112 2917742
PROCESSING 29177
REVISED EMI@10.5% $29,934
SAVINGS 963 211,775
LESS: PROCESSING 29,177
NET 182,598

 

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