Pocket Money - SEBI Investor Awareness Website - Securities and ...

What is Reducing Balance Method of calculating interest?______________________________________________________________________________________________________Amrita needs to pay only Rs.105.50 per month for 12 monthsPlastic Money : Is it the easy optionAmrita is feeling low and starts thinking of other options likecredit card. She calls up her uncle.Amrita: Hello uncle, I told you that I needed some money. CanI not withdraw it from the credit card that my father has givenme?How do you make a purchase using the credit card?Step 1: You give the card to the shopkeeperStep 2: The shopkeeper generates a charge-slip in duplicate- the merchant copy and a customer copy.Step 3: You sign the merchant copy and give it to the shopkeeperand keep the customer copy with you and take back your creditcardDo you think it is wise for Amrita to borrow money throughcredit card and pay the minimum amount due?__________________________________________________Amrita's uncle also told her the same thing. He also providedsome interesting information.86