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Class 10 Class 12

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

Suggest Sunil two ways of increasing his monthly income and convince him to record his monthly expenses. Suggest a suitable format for monthly record of his expenses.

  1. It helps judicious spending, aware of wasteful expenditure.
  2. Money lasts throughout the month.
  3. Can compare prices and expenses of the previous month.
  4. Prioritise expenses.

Month Name of things 1st Week 2nd Week 3rd Week  4th Week  Total Amount 
Feb House Rent          
March   ---   ---   ---   ---   ---   ---

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

Regularly saving some portion of income helps us in -

  1. Inflation,
  2. Emergencies/unforeseen expenses,
  3. Provide security,
  4. Meet future goals
  5. retirement
  6. Raise standard of living


Identify eight possible mistakes consumers make which may prevent them from filing a complaint in the consumer court.

Eight possible mistakes a consumer makes:

  1. Did not take the authentic bill.
  2. Did not get warranty card stamped.
  3. Did not buy a product with standard mark.
  4. Did not buy from an authorised dealer.
  5. Did not read instructions before reading the product.
  6. Did not send the registered AD to opposite party about the complaint.
  7. Did not file within two years.
  8. Did not submit an affidavit to support her complaint.
  9. Did not approach the right forum.
  10. Did not fill complete details like name address, etc

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

S.No  Features LIC NSC
(i) Time period May mature after death/longer period of investment. Mature after 5 years and 10 years.Its shorter period of Investment
(ii) Maximum Limit Investment limit according to the sum insured. No limit of investment
(iii) Minimum limit According to Policy Rs. 100
(iv) Loan Available Available
(v) Tax rebate Available Available
(vi) Premature Withdrawal Not available Not available
(vii) Interest Taxable or Tax-free rate of Interest w.e.f Apri,2014 Low rate Higher rate of Interest
(viii) When to Invest Investment payment to be done periodically. Every year/quarterly. Investment to be done once in a lump sum in the beginning.