Question

3) Tina deposited lump sum
amount of Rs 50,000/- for a
period of one year. identify and explain the concepts​

Answer 1

Answer:

Solution. Explanation: Fixed deposits refer to a lumpsum amount deposited by a customer for a specified period of time. Hence, this illustration relates to the concept of 'fixed deposit' as Tina deposited a lumpsum amount of ₹ 50,000 in the bank for a period of one year.

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