Mathematics · Aptitude and Banking Calculations
A Self-Help Group (SHG) has been saving Rs. 200 per member monthly for 12 months. The group has 15 members. Over the year, they earned Rs. 3,000 in interest from internal loans and collected Rs. 1,500 in fines. They spent Rs. 500 on stationery and meeting expenses. Calculate the Corpus of the SHG at the end of the year and the minimum Cash Credit (CC) limit the bank should sanction based on the '6 times corpus' rule.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Corpus: Rs. 40,000; CC Limit: Rs. 2,40,000✓
- 2Corpus: Rs. 40,000; CC Limit: Rs. 1,50,000
- 3Corpus: Rs. 36,000; CC Limit: Rs. 2,16,000
- 4Corpus: Rs. 36,000; CC Limit: Rs. 1,50,000
Correct answer
Corpus: Rs. 40,000; CC Limit: Rs. 2,40,000
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