Professional Documents
Culture Documents
CERTIFICATE
ACKNOWLEDGEMENT
STUDY OF VARIOUS TYPES OF BANK
ACCOUNTS AND RATE OF INTEREST OFFERED
INTRODUCTION
TYPES OF BANK ACCOUNTS
FORMULAE
RATES OF INTEREST OFFERED
PLANNING A HOME BUDGET
INTRODUCTION
TYPES OF BUDGET
PERSONAL BUDGET
HOME BUDGET FOR GUPTA FAMILY
FOR THE MONTH OF JANUARY
GRAPHS
CONCLUSION
BIBLIOGRAPHY
ACKNOWLEDGEMENT
I would like to express my special thanks of
gratitude to my mathematics teacher MR.
KULDEEP VERMA who gave me the golden
opportunity to do this wonderful project,
which also helped me in doing a lot of
research and I came to know about so many
new things. I am really thankful to him.
Secondly I would also like to thank my
parents and friends who helped me in
completing this project.
SURVEY OF
VARIOUS TYPES
OF BANK
ACCOUNTS AND
RATES OF INTEREST
OFFERED
INTRODUCTION
A Bank may be defined as a company which
collects money from the public in the form
of deposits and lends the same to
borrowers. It is an institution that provides
facilities for safe keeping, lending and
transfer of money.
According to Crowther,
“The banker’s business is to take the debts
of other people to offer his own in exchange
and thereby create money.”
According to R.P. Kent,
“An organisation whose principal operations
are concerned with the accumulation of the
temporarily idle money of the general public
for the purpose of advancing to others for
expenditure.”
TYPES OF BANK
ACCOUNTS
Bank accounts are classified into four
different types. They are,
1. Saving Account
2. Current Account
3. Recurring Deposit Account
4. Fixed Deposit Account
n(n+1) r
I = P* 2*12 *100
MV = P*N + I
Where MV is the maturity value, P is the
money deposited per month, n is the
number of months for which the money has
been deposited and I is the simple interest.
RATES OF INTEREST
OFFERED
PLANNING A
HOME BUDGET
INTRODUCTION
A budget is an estimation
of revenue and expenses over a specified
future period of time; it is compiled and re-
evaluated on a periodic basis. Budgets can
be made for a person, a family, a group of
people, a business, a government, a
country, a multinational organization or just
about anything else that makes and spends
money. At companies and organizations, a
budget is an internal tool used by
management and is often not required for
reporting by external parties.
TYPES OF BUDGET
1. Sales budget: A sales budget estimates
the sales in units as well as the estimated
earnings from these sales . Budgeting is
important for any business. Without a
budget companies can’t track process or
improve performance.
2. Production budget: A production budget
is a financial plan that lists the number of
units to be manufactured during a period
. In other words, this is a report that
estimates the number of units that a
plant will produce from period to period .
3. Capital budget: Capital budget is used to
determine whether an organization's
long-term investments such as new
machinery, replacement machinery, new
plants, new products, and research
development projects are worth
pursuing.
4. Revenue budget: Revenue budget
consists of revenue receipts of
government and the expenditure met
from these revenues. Tax revenues are
made up of taxes and other duties that
the government levies.
PERSONAL BUDGET
A personal budget or home budget is
a finance plan that allocates future
personal income towards expenses, savings
and debt repayment. Past spending
and personal debt are considered when
creating a personal budget. There are
several methods and tools available for
creating, using and adjusting a personal
budget. For example, jobs are an income
source, while bills and rent payments are
expenses.
HOME BUDGET FOR
GUPTA FAMILY
Family’s name : Gupta’s
No. of Family members : 4
No. of earning members : 1
Maid : 1 (part–time)
No. of children studying : 2
No. of mobile phones : 3
No. of Vehicles : 2 ( 1 four wheeler , 1
two wheeler )
House owned
Designation of earning members :
Father: Businessman
FOR THE MONTH OF
JANUARY
Category Amount
Total income 70000
Taxes 10000
Actual income 60000
House maintenance 3000
Grocery + fruits + 8000
vegetables
Milk 1500
Electricity + water 4000
Conveyance 500
Clothing 2500
School fees 8500
Entertainment 2000
Automobile 2500
Mobiles 1000
Maid 1000
Repairs 1000
Travelling 1500
Laundry 500
Shopping 2000
Stationary 500
Medical 2000
Grand total 42000
Savings 18000
Yearly savings 216000
BAR GRAPH
9000
8000
7000
6000
5000
4000
3000
2000
1000
0
CONCLUSION
By doing this project I got information on
“Various types of bank accounts and rate of
interest offered” and “planning a home
budget”. I got information about types of
bank accounts, formula to calculate rate of
interest, types of budget, what is personal
budget, etc.
BIBLIOGRAPHY
I visited on:
www.meritnation.com
www.wikipiedia.com
www.scribed.com
and taken information from various books .