Current Affairs · Government Schemes
Under the Prime Minister's Employment Generation Programme (PMEGP), a Special Category beneficiary in a rural area sets up a manufacturing project with a total project cost of ₹40,00,000. Calculate the amount of Margin Money Subsidy (35 percent) and the interest that would be earned on this subsidy if the bank keeps it in a Term Deposit Receipt (TDR) for 3 years at 7 percent per annum simple interest.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Subsidy: ₹6,00,000; Interest: ₹1,26,000
- 2Subsidy: ₹14,00,000; Interest: ₹1,96,000
- 3Subsidy: ₹10,00,000; Interest: ₹2,10,000
- 4Subsidy: ₹14,00,000; Interest: ₹2,94,000✓
Correct answer
Subsidy: ₹14,00,000; Interest: ₹2,94,000
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