Economic Glossary | Gross National Product | Bankers Algo
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Economic Glossary

    Gross National Product

The total market value of all goods and services produced by the citizens of an economy during a given period of time, usually one year. Gross national product, often abbreviated simply as GNP, was once the federal government's official measure of how much output our economy produces. In the early 1990s, however, it was replaced by gross domestic product (GDP)


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Banker's Algo Daily Dose

Word of the day

Decrees(n)

Meaning:

A formal and authoritative order, especially one having the force of law

Synonyms: act, announcement, behest, bidding, charge

Antonyms: dismiss, fire, refuse, reject

Apti Question of The day

Question

Mr. ‘X’ invested certain amounts in two different schemes ‘A’ and ‘B’. Scheme ‘A’ offers simple interest at 12% pa. And scheme ‘B’ offers compound interest at 10% pa. Interest accrued on the amount invested in scheme ‘A’ in two year was Rs. 3,600 and the total amount invested was Rs. 35,000. What was the interest accrued on the amount invested in scheme ‘B’?

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