BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The amount invested in Kisan Vikas Patra(KVP) would get doubled in____months.
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100
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105
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110
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113
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Explanation:
Detailed explanation-1: -In how many months will the KVP be doubled? Your investment in KVP will be doubled within a period of 120 months, i.e. 10 years.
Detailed explanation-2: -Kisan Vikas Patra is capable of doubling your money in 10 years and four months at the interest rate of 7 per cent. Suppose you invest Rs 2 lakh in the KVP scheme today, after 124 months, you will get Rs 4 lakhs. The Kisan Vikas Patra scheme is earning better interest than some Fixed Deposits by the banks.
Detailed explanation-3: -According to the latest amendments in the scheme, the maturity period is 10 years (120 months). The invested amount is doubled after the completion of the scheme tenure. For example – If an individual has invested Rs.
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