+91-8076753736 [email protected]

-->

Money Management And Consumer Education

Question

Wired Faculty App

Compare any five features of Monthly Income Scheme( MIS) and National Saving Certificate (NSC).

Solution

MIS	NSC
In this scheme, an individual has to invest a fixed amount.	Any individual can purchase these certificates from the post office which are available there in the denomination of Rs 100,500, 1000,5000, and 10,000.
This account can be opened singly or jointly.	These are issued for five and ten years.
This account can be opened singly or jointly.	These are issued for five and ten years.
For a single account, one can deposit a maximum of Rs.4.5 lakh while for a joint account the maximum deposit is Rs 9 Lakh.	Under this scheme, 8.5% compound interest per annum is payable at maturity (Rs 100 invested will yield
An additional bonus of 10% is also given after completion of the maturity period, i.e 5 years.	The maximum limit on which tax rebate can be available is Rs. 1,50,000.

Some More Questions From Money Management and Consumer Education Chapter

How will you convince the members of a family to regularly save some portion of their income?

Suggest two ways each family members can increase their money and real income with the use of assets and skills.

Mr. Sharma wants to file a case in a consumer court against a company for selling faulty products.Guide him on all the aspects of filling the complaint.

Compare the features of LIC and National Saving Certificate (NSC).

Give two reasons to maintain the household account by a family.

Write two advantages each of recurring savings scheme of Bank and Public Provident Fund (PPF) scheme.

Rajesh works as a clerk. His son studies in a professional college. He finds it hard to meet their monthly expenses. In what four ways can his son help in reducing his expenses and use his skills to increase their real income?

Give four suggestion from the area of Nutrition and Human development to justify that knowledge of Home Science can lead to self- employment.

Mock Test Series

Mock Test Series

NCERT Sample Papers

Entrance Exams Preparation