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what is the interest amount ?

Kalpesh Chauhan, (Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com)) (8311 Points)

22 December 2010

I would like to know that in the post office's
5-YearPost Office Recurring Deposit Account
the interest calculator given indicates the Maturity Amount of the 5 year including interest or excluding interest ?
i.e The investment of Rs. 100 for 5 years will give me Rs. 7289 or Rs13389 (i.e. Rs.7289 + Rs.100*12*5) ?

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YASH JAIN (ARTICLE) (554 Points)
Replied 22 December 2010

Array CA FInalist u need to apply logice sometimes ..............................The question u have asked is of very basic nature and i Guess u should have not asked such question..............if on investment of Rs6000 u get Rs7289 then stock markets will crash bond markets will crash and everyone will invest in post office. Our government will run out of money if they give such kind of returns.........................The interest is always inclusive.