A person earns Rs. 2000 per month over and above his salary as additional charge allowance. However, 30% of this additional income will be deducted as additional income tax at source. If the person would deposit Rs.1000 per month on a long term saving fetching 12% interest his tax liability on the additional allowance would reduce to 10%. What is the effective interest for this person for money invested in the long term savings scheme?  - Study24x7
Social learning Network
Curious Mind
299 followers study24x7 11 Apr 2020 06:14 PM study24x7 study24x7

A person earns Rs. 2000 per month over and above his salary as additional charge allowance. However, 30% of this additional income will be deducted as additional income tax at source. If the person would deposit Rs.1000 per month on a long term saving fetching 12% interest his ta...

See more

A

12%

B

18%

C

19%

D

20%

MBA/Management GATE Finance/CA
Like | 1 Comment Share | 1
study24x7
Write a comment
Related Questions
500+   more Questions to answer

Popular Courses

CA FOUNDATION BUSINESS AND COMMERCI... All Levels English By CHARTEREDS SPECIAL
Reasoning Special by Parwez Sir for... All Levels हिन्दी By Reasoning special by Parwez Alam
Introduction to Google Ads All Levels English By Digital World
Free SEO training: SEO for beginner... Beginners Level English By Digital Marketing - Learn SEO, PPC,...
Free SEO Link Building Guide 2019 All Levels English By Digital Marketing - Learn SEO, PPC,...
Math Special Course for SSC CGL, CP... All Levels हिन्दी By Topline Coaching 999 1,499 33% off
SSC CGL, CPO, CHSL, GD Comprehensiv... All Levels English By Topline Coaching 3,999 5,499 27% off
English Special Course for SSC CGL,... All Levels English By Topline Coaching 999 1,499 33% off
Online Free SSC Mock Tests All Levels English By Topline Coaching
FREE MOCK TEST FOR SSC CGL All Levels English By SSC Preparation Strategies & Study ...
Featured Courses
Popular Pages

Featured Courses

CA FOUNDATION BUSINESS AND COMMERCIAL KNOWLEDGE All Levels English By CHARTEREDS SPECIAL
FREE
5.0
BESTSELLER
Reasoning Special by Parwez Sir for all Government... All Levels हिन्दी By Reasoning special by Parwez Alam
FREE
5.0
Introduction to Google Ads All Levels English By Digital World
FREE
5.0
Free SEO training: SEO for beginners Beginners Level English By Digital Marketing - Learn SEO, PPC, SMO, SEM, Cont...
FREE
5.0
Free SEO Link Building Guide 2019 All Levels English By Digital Marketing - Learn SEO, PPC, SMO, SEM, Cont...
FREE
4.5
BESTSELLER
SSC CGL, CPO, CHSL, GD Comprehensive Course All Levels English By Topline Coaching 3,999 5.0
G.S. Foundation Premium Course All Levels हिन्दी By RAU IAS COACHING 2,199 5.0
English Special Course for SSC CGL, CPO, GD All Levels English By Topline Coaching 999 5.0
Online Free SSC Mock Tests All Levels English By Topline Coaching
FREE
4.5
Math Special Course for SSC CGL, CPO, GD All Levels हिन्दी By Topline Coaching 999 5.0

Popular Pages

SAT (Scholastic Assessment Test)

18 followers

Reasoning special by Parwez Alam

148 followers

Study24x7

1225 followers

Henry Harvin

60 followers

CBSE Study Materials

86 followers

Finance/CA

40 followers

CHARTEREDS SPECIAL

12 followers

GATE/ESE/PSU

35 followers

Digital World

120 followers

Digital Marketing - Learn SEO, PPC, SMO,...

757 followers

Get the App

Download the Study24x7 App, so you can connect and collaborate.

study24x7
study24x7
Most Related Articles