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Direction: Read the following passage and answer the questions that follow:
Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.
Q. Which of the following Bank Account is a non interest bearing bank account?
- a)Savings Account
- b)R.D. Account
- c)Fixed Deposit Account
- d)Current Account
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
Direction: Read the following passage and answer the questions that f...
- Current Account is a non interest bearing bank account.
- Non-interest-bearing accounts are typically checking accounts with low requirements for maintenance. These tend to have lower or no fees on things such as checks, automatic teller machine use, and teller service. This kind of account may also offer low credit card rates and traveler's checks.
Most Upvoted Answer
Direction: Read the following passage and answer the questions that f...
Bank Accounts and Interest
When it comes to banking, there are various types of accounts that individuals and businesses can open. These accounts serve different purposes and offer different features. One important feature that many people consider when choosing a bank account is whether or not it earns interest.
Types of Bank Accounts
There are several types of bank accounts, including savings accounts, recurring deposit accounts, fixed deposit accounts, and current accounts. Each of these accounts has its own characteristics and benefits.
- Savings Account: A savings account is a basic type of bank account that allows individuals to deposit and withdraw money as needed. These accounts typically earn interest on the deposited amount, although the interest rates may vary.
- Recurring Deposit Account (R.D. Account): A recurring deposit account is a type of bank account where individuals deposit a fixed amount of money regularly, usually on a monthly basis. This account is designed to encourage regular savings and typically earns interest on the deposited amount.
- Fixed Deposit Account: A fixed deposit account, also known as a term deposit account, is an account where individuals deposit a certain amount of money for a fixed period of time. These accounts offer a higher interest rate compared to savings accounts and recurring deposit accounts.
- Current Account: A current account is a bank account that is typically used by businesses for day-to-day transactions. Unlike savings accounts and fixed deposit accounts, current accounts usually do not earn any interest on the deposited amount.
Mr. Krishna Kumar's Bank Accounts
In the given passage, Mr. Krishna Kumar, a businessman, has two bank accounts. He has a current account with PNB, where he conducts his daily business transactions. However, this account does not earn any interest on the deposited amount. Current accounts are primarily used for business purposes and typically do not offer interest-earning capabilities.
Apart from his current account, Mr. Krishna Kumar also has a recurring deposit account, where he deposits `10,000 every month. This account is designed to encourage regular savings and typically earns interest on the deposited amount.
Conclusion
In conclusion, the non-interest bearing bank account mentioned in the passage is Mr. Krishna Kumar's current account. This type of account is primarily used for business transactions and does not earn any interest on the deposited amount. On the other hand, his recurring deposit account earns interest as it is designed to encourage regular savings.
When it comes to banking, there are various types of accounts that individuals and businesses can open. These accounts serve different purposes and offer different features. One important feature that many people consider when choosing a bank account is whether or not it earns interest.
Types of Bank Accounts
There are several types of bank accounts, including savings accounts, recurring deposit accounts, fixed deposit accounts, and current accounts. Each of these accounts has its own characteristics and benefits.
- Savings Account: A savings account is a basic type of bank account that allows individuals to deposit and withdraw money as needed. These accounts typically earn interest on the deposited amount, although the interest rates may vary.
- Recurring Deposit Account (R.D. Account): A recurring deposit account is a type of bank account where individuals deposit a fixed amount of money regularly, usually on a monthly basis. This account is designed to encourage regular savings and typically earns interest on the deposited amount.
- Fixed Deposit Account: A fixed deposit account, also known as a term deposit account, is an account where individuals deposit a certain amount of money for a fixed period of time. These accounts offer a higher interest rate compared to savings accounts and recurring deposit accounts.
- Current Account: A current account is a bank account that is typically used by businesses for day-to-day transactions. Unlike savings accounts and fixed deposit accounts, current accounts usually do not earn any interest on the deposited amount.
Mr. Krishna Kumar's Bank Accounts
In the given passage, Mr. Krishna Kumar, a businessman, has two bank accounts. He has a current account with PNB, where he conducts his daily business transactions. However, this account does not earn any interest on the deposited amount. Current accounts are primarily used for business purposes and typically do not offer interest-earning capabilities.
Apart from his current account, Mr. Krishna Kumar also has a recurring deposit account, where he deposits `10,000 every month. This account is designed to encourage regular savings and typically earns interest on the deposited amount.
Conclusion
In conclusion, the non-interest bearing bank account mentioned in the passage is Mr. Krishna Kumar's current account. This type of account is primarily used for business transactions and does not earn any interest on the deposited amount. On the other hand, his recurring deposit account earns interest as it is designed to encourage regular savings.
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Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.Q. Which of the following Bank Account is a non interest bearing bank account?a)Savings Accountb)R.D. Accountc)Fixed Deposit Accountd)Current AccountCorrect answer is option 'D'. Can you explain this answer?
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Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.Q. Which of the following Bank Account is a non interest bearing bank account?a)Savings Accountb)R.D. Accountc)Fixed Deposit Accountd)Current AccountCorrect answer is option 'D'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.Q. Which of the following Bank Account is a non interest bearing bank account?a)Savings Accountb)R.D. Accountc)Fixed Deposit Accountd)Current AccountCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.Q. Which of the following Bank Account is a non interest bearing bank account?a)Savings Accountb)R.D. Accountc)Fixed Deposit Accountd)Current AccountCorrect answer is option 'D'. Can you explain this answer?.
Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.Q. Which of the following Bank Account is a non interest bearing bank account?a)Savings Accountb)R.D. Accountc)Fixed Deposit Accountd)Current AccountCorrect answer is option 'D'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.Q. Which of the following Bank Account is a non interest bearing bank account?a)Savings Accountb)R.D. Accountc)Fixed Deposit Accountd)Current AccountCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.Q. Which of the following Bank Account is a non interest bearing bank account?a)Savings Accountb)R.D. Accountc)Fixed Deposit Accountd)Current AccountCorrect answer is option 'D'. Can you explain this answer?.
Solutions for Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.Q. Which of the following Bank Account is a non interest bearing bank account?a)Savings Accountb)R.D. Accountc)Fixed Deposit Accountd)Current AccountCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
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Here you can find the meaning of Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.Q. Which of the following Bank Account is a non interest bearing bank account?a)Savings Accountb)R.D. Accountc)Fixed Deposit Accountd)Current AccountCorrect answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.Q. Which of the following Bank Account is a non interest bearing bank account?a)Savings Accountb)R.D. Accountc)Fixed Deposit Accountd)Current AccountCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.Q. Which of the following Bank Account is a non interest bearing bank account?a)Savings Accountb)R.D. Accountc)Fixed Deposit Accountd)Current AccountCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of Direction: Read the following passage and answer the questions that follow:Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.Q. Which of the following Bank Account is a non interest bearing bank account?a)Savings Accountb)R.D. Accountc)Fixed Deposit Accountd)Current AccountCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
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