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FREE JAIIB AFB Notes – Part 1 | BUSINESS MATHEMATICS AND FINANCE

FREE JAIIB FREE AFB Notes – Part 1 | BUSINESS MATHEMATICS AND FINANCE | JAIIB 2022

In this AFB short notes 2022, we are going to provide the important topics from all the modules of AFB NOVEMBER EXAM 2022 from the prescribed JAIIB syllabus Nov 2022. And if you are also among the JAIIB Candidates who is going to write this Accounting & Finance for Bankers November Exam 2022, then you must cover the following provided topics of ACCOUNTING & FINANCE FOR BANKERS (AFB) at the least.

 

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JAIIB EXAM NOV 2022

IIBF conducts JAIIB Exams, one of the flagship courses offered by it, twice a year. It is conducted in May & November every year. This course has 3 subjects and PPB or Principles & Practices of Banking is one. In this article, you will get some FREE Study Notes or FREE Short Notes of the AFB Paper of JAIIB 2022 from our JAIIB AFB Study Material for 2022

JAIIB AFB LATEST PRESCRIBED SYLLABUS FOR NOV 2022

The Accounting & Finance for Banking that has been prescribed for the upcoming JAIIB Exam 2022 has 4 modules which are further divided into different units.

JAIIB NOV 2022 PAPER MODULES OF JAIIN AFB FOR NOV 2022
Accounting & Finance for Banking
  1. Business Mathematics and Finance
  1. Principles of Bookkeeping and Accountancy
  1. Final Accounts
  1. Banking Operations

 

To check out the detailed syllabus of JAIIB– PPB, AFB & LRAB click here.

Read Also:- JAIIB PPB Principles and Practices of Banking Short Notes Part 2

Related Links:

PPB AFB LRAB IIBF COURSES
JAIIB PPB Syllabus 2022 JAIIB AFB Syllabus 2022 JAIIB LRAB Syllabus 2022 JAIIB/CAIIB Full Video Course
JAIIB PPB Study Material PDF 2022 JAIIB AFB Study Material PDF 2022 JAIIB LRAB Study Material PDF 2022
JAIIB PPB Notes PDF 2022 JAIIB AFB Notes PDF 2022 JAIIB LRAB Notes PDF 2022
JAIIB PPB Mock Test PDF 2022 JAIIB AFB Mock Test PDF 2022 JAIIB LRAB Mock Test PDF 2022

FREE AFB FREE SHORT NOTES 2022:-

JAIIB AFB I – MODULE: BUSINESS MATHEMATICS AND FINANCE: 

  1. CALCULATION OF INTEREST

Simple Interest: Simple interest or flat rate interest is the amount of interest paid each year in a fixed %age of the borrowed or lent amount at the start.

The formula for calculating simple interest:-

Interest = Principal x Rate x Time = PRT

Where,

‘Interest’ = I = Total interest amount paid
‘Principal’ = P = Lent or borrowed amount
‘Rate’ = R = %age of the principal charged as interest (p.a).
‘Time’ = T = Time of the loan (in years).

 

Important Topic:- JAIIB NOVEMBER EXAM 2022 | SCHEDULE OF LIVE CLASSES

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Read Also:- JAIIB NOVEMBER SYLLABUS 2022

Example:

P = Rs. 60,000.00, R = 10% i.e 0.10, T = 3 yrs. Find the interest amount paid.

Solution:

Interest = PRT

= 60,000 x 0.10 x 3 = Rs. 18,000.00

 

Compound Interest: It is paid on the original principal amount & accumulated part of interest.

The formula for calculating compound interest:

Principal = A (1 +r/n) n t

Where,

P = Principal Amount
A = Deposited Amount
r = the rate (expressed as a fraction)
n = no. of times per year that interest is compounded
t = no. of years invested

 

Read Also:- JAIIB 2022 EXAM STUDY MATERIAL

Frequently compounding of Interest. If the interest is compounded:

Annually = P (1 + r)
Quarterly = P (1 + r/4) 4
Monthly = P (1 + r/12) 12

 

Important Topic:- JAIIB EXAM NOVEMBER 2022 NOTIFICATION

Example:

The compound interest on Rs. 60,000 at 7% per annum is Rs. 8694. The period (in years) will be?

Solution:

A = Rs. (60000 + 8694) = Rs. 68,694.00

Let the time be n years.

Then, 60000 (1+7/100) n = 68694

(107/100) n = 68694/60000

(107/100) n = 11449/10000

(107/100) n = (107/100) 2

So, n = 2 years.

 

The Rule of 72: This allows you to determine the no. of years before your money doubles whether in investment or debt. Divide the number 72 by the rate (%)

Formula

The time period for Money to double = 72/r

 

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Example:

If the FD interest rate is 6% & compounded yearly, how much time is required for it to double?

Solution:

Time period for Money to double = 72/6 = 12 years

 

Equated monthly installment (EMIs): The monthly payment a borrower makes on his loan. It’s a combination of interest & principal repayment. The total monthly amount is calculated in such a way that it remains constant all through the repayment tenure. In EMIs, the principal & the interest thereon is repaid through the equal monthly installment over the fixed loan tenure. For borrowers the benefit of an EMI is that they know precisely the money they will need to pay toward their loan each month, making their budgeting process easier.

Important Topic:- JAIIB AFB STUDY MATERIAL 2022 – Accounting & Finance for Bankers

Formula of EMI

E = P × r × (1 + r) n / ((1 + r) n – 1)

Where,

E = EMI
P = Principle Amount of Loan
r = rate of interest calculated on monthly basis = Annual Interest Rate/12/100
(if its 10% annual, then its 10/12/100=0.00833)
n = Tenure in no. of months

 

Example:

For 100000 at 10% annual interest for a period of 12 months, it comes to:

= 100000*0.00833*(1 + 0.00833)12/((1 + 0.00833)12 – 1) = 8792

 

AFB LATEST STUDY MATERIAL FOR NOVEMBER 2022 EXAMS

The AFB Lectures are prepared & delivered by the expert team of Learning Sessions for NOV 2022 Exams especially & anyone preparing for the upcoming AFB or other paper of JAIIB i.e. PPB & LRAB – can access the Full video courses through:

The Study Material you will be getting access to pass the JAIIB NOV Exams:

  • Accounting & Finance for Bankers LIVE lectures
  • Accounting & Finance for Bankers Recorded lectures
  • Accounting & Finance for Bankers epdf notes
  • Accounting & Finance for Bankers Mock Tests (chapterwise)
  • Accounting & Finance for Bankers Mega Mock Tests
  • 24 x 7 access
  • Unlimited Views
  • As per the latest Syllabus of JAIIB applicable for NOV 2022 Exams
  • All applicable updates are covered in the lectures

 

Read Also:- JAIIB Mock Tests/Exams, Study Notes, and PDF Material

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JAIIB PPB Principles & Practices of Banking Short Notes Part 1 Notes-1
JAIIB PPB Principles & Practices of Banking Short Notes Part 2 Notes-2
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JAIIB AFB NOTES PART 2 JAIIB AFB NOTES

 

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All the Best for your JAIIB AFB Exams this NOV 2022!

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