Calculation of interest on/in savings account, fixed deposit account and recurring deposit account

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

LCM and HCM

HCM and LCM Factors A factor of a number are all those numbers, which exactly divide the given number. “Exactly divides” means that when a number is divided by its factor the reminder is always  0. For example: 1,2,and 4 are the factors of 4. Multiples Multiples of a number are those numbers which are … Read more

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