Identify eight possible mistakes consumers make which may prevent them from filing a complaint in the consumer court.
Eight possible mistakes a consumer makes:
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.
| Month | Name of things | 1st Week | 2nd Week | 3rd Week | 4th Week | Total Amount |
| Feb | House Rent | |||||
| Petrol | ||||||
| Grocery | ||||||
| Food | ||||||
| Drink | ||||||
| March | --- | --- | --- | --- | --- | --- |
Compare any five features of Monthly Income Scheme( MIS) and National Saving Certificate (NSC).
| MIS | 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. |
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 -
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. |
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