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Articles by Praveen Varghese Thomas
Page 6 of 75
Complementary Goods
Complementary goods are products or services that are consumed together to satisfy a particular need or want. When the consumption of one good increases, the consumption of its complementary good also increases, as they exhibit a negative cross-price elasticity of demand. These goods are interdependent, meaning the utility of one good is enhanced when used with its complement. Key Concepts Complementary goods are frequently used in conjunction to fulfil a shared need or desire. Because they are commonly consumed together, bread and butter, for instance, are complementary goods. Similarly, since using one requires using the other, a printer and ...
Read MoreBest Investment Options for Senior Citizens
Senior citizens require investment options that balance safety, regular income, and inflation protection. While fixed deposits offer security, they may not provide sufficient returns to maintain purchasing power over time. A diversified portfolio combining low-risk, moderate-risk, and selective higher-risk investments can help senior citizens achieve financial stability and growth during retirement. Key Investment Options for Senior Citizens Government-Backed Schemes Senior Citizen Savings Scheme (SCSS) − Government-backed scheme offering up to 7.4% interest paid quarterly. Investment limit is Rs. 15 lakhs with 5-year tenure, extendable by 3 years. Ideal for risk-averse investors seeking regular income. Pradhan Mantri Vaya ...
Read MoreAudit Documentation
Audit documentation refers to the comprehensive written records, working papers, and evidence created during the audit process. It serves as proof of the auditor's work performed and supports the conclusions and opinions expressed in the audit report. Key Components of Audit Documentation Audit documentation includes all records that demonstrate the auditor's compliance with auditing standards and provide evidence for audit conclusions. These documents must be complete, accurate, and maintained according to professional standards. Audit ...
Read MoreAnnuitant
An annuitant is the individual who receives regular payments from an annuity contract. While the annuity owner purchases the contract and controls its terms, the annuitant is the specific person whose life expectancy and characteristics determine payment amounts and duration. The annuitant may be the same person as the owner, or they can be different individuals, such as a spouse or family member. Key Concepts To understand annuitants, it's essential to distinguish between three key roles in annuity contracts: Annuity Owner − The person who purchases the contract and has control over it Annuitant − The ...
Read MoreConstructing Triangles, ASA
Introduction Constructing ASA triangles explains to construct a triangle where the measure of two angles and one of the side lengths is given to us. Geometry is the branch of mathematics that deals with properties & relations of points, lines, surfaces & solids. Also, it deals with geometrical construction. Geometrical construction is constructing or drawing geometrical figures like lines, line segments, triangles, circles & quadrilaterals etc. There are several methods of constructing geometrical figures. We can construct geometrical figures by using geometrical instruments like ruler, protractor, compass, divider & set squares. Triangles are mostly constructed by using a ruler, protractor ...
Read MoreContinuity and Discontinuity
Introduction Continuity and discontinuity can be defined as properties of functions that are used in statistics to predict or estimate values. Mathematical functions can be categorised into two types − continuous and discontinuous variables. Continuity is the property of functions that can be shown on a graph without breaking. Discontinuity, on the other hand, is a property of functions which have unconnected points on a graph. In this tutorial, we will understand the concept of continuity and discontinuity along with examples. Continuity In nature, continuity is seen all around us. For example, the flow of rivers, time etc., are some ...
Read MoreContinuous Variable
Introduction Continuous variables are the ones which in between any two numeric values have an infinite number of values. Variables in statistics can be quantitative variables, which define the quantity of measurement. Quantitative measurement can further be divided into continuous variables and discrete variables. Such variables are used widely in statistical research and tools. In this tutorial, we will learn about variables and its types, continuity, and continuous variables along with some solved examples. Variables In statistics, a variable may be defined as a term that represents an unknown value which is not fixed and is in numerical form. Variables ...
Read MoreCross Multiplication Pair of Linear Equations in Two Variables
Introduction Cross multiplication method is used to solve linear equation in two variables. An algebraic equation in the form of $\mathrm{y\:=\:mx\:+\:b}$ is called a Linear equation. In this equation m is the slope, b is the intercept. x and y is the distance of this line from x-axis and y-axis. The solution of each equation represents a point on the line. An equation in the form of $\mathrm{ax\:+\:by\:+\:c\:=\:0}$ where a, b, c are real numbers, and the values of both a and b are not zero. Now this equation will be called the linear equation in two variables x and ...
Read MoreCompound Statements in Mathematics
Introduction A compound statement is a collection of two or more statements joined together using terms like "or, " "and, " "if-then, " and "only if." A statement is the fundamental building block of mathematical reasoning, which is a deductive process. The statements used in reasoning may be compound, meaning they may combine two or more separate statements. In mathematical reasoning issues, some particular words or phrases, such as And, Or, etc., are employed to form compound propositions. These are referred to as connectives. To answer questions relating to mathematical reasoning, conjunctions like AND, disjunctions like OR, and so on ...
Read MoreConcentric Circles
Introduction Concentric circles, congruent circles & tangent circles are the types of circles. The circle is one of the basic shape in geometry. It is a closed two-dimensional shape formed due to points that are placed equidistant from the central point. The word circle is derived from the Greek word Kirkos it means “hoop” or “ring”. A circle divide a plane interior i.e inside a circle & exterior i.e outside a circle. A circle is measured in the term of its radius. Congruent circles, concentric circles, intersecting circles & tangent circles are different types of circles. In this tutorial, we ...
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