Your company has established a sinking fund to meet an obligation of Rs 8 lac, coming due in 10 years. If the fund can earn 10 percent a year, what annual contributions must be made to accumulate the amount?

Bank-A pays 13 percent interest compounded annually on deposits. Bank-B pays 12 percent compounded monthly. In which bank would you prefer to deposit your money?

Vindhyachala Financial Services Company offers loans at an annual rate of 10 percent. If the interest is compounded monthly, what is the effective rate?