Introduction to Banking

Q. Sir what is sales proceed?
please explain in a detailed way, to remove my confusion.
What is basically sales proceed????????
📝

Q.

What is the difference between vouchers and invoices?

Q.

Question 29

The time period after which the interest is added each time to form a new principal, is called the ___.

Q.

What are the types of accounting vouchers?

Q. On 1st April, 2017, A and B entered into partnership contributing Rs. 60, 000 and Rs. 45, 000 respectively. They agreed to share profits and losses in the ratio of 3 : 2. B is allowed salary of Rs. 12, 000 per year. Interest on capital is to be allowed @ 10% p.a. During the year, A withdrew Rs. 9, 000 and B withdrew Rs. 18, 000 as drawings. Interest on drawings paid by A and B were Rs. 150 and Rs. 210 respectively. Profit for the year ended 31st March, 2018 before the above adjustments was Rs. 35, 000. Show distribution of profits by preparing Profit and Loss Appropriation Account of the firm. Prepare Partners' Capital Accounts also.

Q.

Arush has a recurring time deposit account in a Bank. He deposits Rs 500 per month for a period of 4 years. If at the time of maturity he gets Rs 28410. Find the rate of interest.

1. r = 9%

2. r = 10%

3. r = 13%

4. r = 7%

Q.

Among the various types of accounts provided by the bank, recurring deposit account is one of them.

1. $False$

2. $True$

Q.

Which of the following is not an example of Barter system?

1. Trading a football for a jersey

2. Ted exchanging a cookie with Manu for a sticker.

3. Ria gives her pretty seashell in exchange for a frisbee.

4. Buying a pair of jeans for ₹1200

Q.

Mr. Rahul Vyas gets Rs 6455 at the end of one year at the rate of 14% per annum in a recurring deposit account. Find the monthly installment.

1. Rs 500

2. Rs 700

3. Rs 300

4. Rs 200

Q.

If the interest is calculated half-yearly , then the interest is credited to your account every ___ months.

Q.

what is the formula to find the compound interest

Q. The bank provides a ______ for the safe custody of valuable documents, gold ornaments and other valuables.

1. security
2. protection
3. locker facility
4. alert

Q.

Hello

Please help me with the following

Is interest charged on a current account?

Regards

Nikita

Q. Principal value is

1. the minimum balance from 10th of a month to the last date of the month.
2. the maximum balance from 1st of a month to the last date of the month.
3. the minimum balance from 1st of a month to the last date of the month.
4. the maximum balance from 10th of a month to the last date of the month.

Q.

Kiran deposited Rs. 200 per month in a recurring deposit account for 3 years. Find the amount payable to him on maturity, if the rate of interest is 11% p. a.

1. 8416

2. 8100

3. 8410

4. 8421

5. 4211

Q.

Miss. Kinnari deposits Rs 500 each month in a recurring deposit for 2 years at 5% p.a. At maturity, she transfers the proceeds to a fixed deposit account for 1 year, the interest being compounded half-yearly at the rate of 8% p.a. Find how much money the man earns by interest in all.

1. Rs 1665.20

2. Rs 1655.20

3. Rs 1605.20

4. Rs 1600.20

Q. What are the primary functions of a bank?

1. Accepting deposits and granting of loans.
2. Accepting deposits and without granting of loans.
3. Not accepting deposits and only granting of loans.
4. Accepting deposits only and not granting of loans.

Q.

How often is petty cash replenished?

Q. The ____ collects the money of the cheques through clearing section of its customers.

1. market
2. share
3. bank
4. business

Q.

Ted trades his crayons with his friend for a dozen baseball cards. This is an example of ___ system.

1. Money

2. Barter

3. Economic

4. Currency

Q. The withdrawal of amount from bank account is known as.

1. Debit
2. Saving
3. Credit
4. None of these

Q.

Find the value of the expression ${\sum }_{i=1}^n{\sum }_{j=1}^i$1

Q.

RD in RD account stands for _______.

1. Recurring daily
   

2. Recurring deposit
   

3. Reimbursement deposit
   

4. Reimbursement daily

Q.

If ₹ 1750 amount to ₹ 1933.75 in a time period of 3 years. Then what is the rate of interest?

1. 3.5%

2. 4.75%

3. 5%

4. 6.5%

Q.

At the expiry of the maturity period, the depositor is paid a lumpsum amount which is called ___

1. Savings

2. Principal

3. Interest

4. Maturity value.

Q. Which of the following is not an example of Barter system?

1. Buying a pair of jeans for ₹ 1200
2. Trading a football for a jersey
3. Ted exchanging a cookie with Manu for a sticker
4. Ria gives her pretty seashell in exchange for a frisbee

Q.

Mr. Ranjit has a saving bank account. His passbook has the following entries.

$\begin{array}{ccccc}Date& Particulars& Withdrawl& Deposit& Balance\\ APR01-2016& & & & 5129\\ Jun10& Cheque& 2000& & 3129\\ Oct18& Self& & 6000& 9129\\ Nov10& Cash& & 3200& 12329\\ Dec21& NEFTTransfer& 4125& & 8204\\ Feb12& Cash& & 1600& 9804\end{array}$

The interest due to him at the end of the financial year (March 31 2017) at the rate of 6$\%$ per annum will be.

1. 363.24

2. 365.14

3. 364.64

4. 362.24

Q. Accepting deposits and granting of loans are an example of

1. primary functions of a bank
2. secondary functions of a bank
3. necessary functions of a bank
4. mandatory functions of a bank

Q. Banks do not pay any interest on __________accounts. Rather, banks impose service charges for running these accounts.

1. Current Account Deposits or Demand Deposits
2. Savings deposits
3. Fixed deposits
4. Demand Loans

Q. calculate return on investments and debt service ratio:
profit after tax: 6, 50, 000
​12.5% long term borrowings: 8, 00, 000
income tax: 50%
net tangible fixed assets: 20, 00, 000
current assets: 15, 00, 000
current liabilities: 7, 00, 000