There are many shopkeepers that insist on 2-5% extra for payments made through credit cards. And often, we have to either to pay the demanded extra money or move to another shop. The 2-5 percent is the extra money that, the shopkeepers claim, is paid to bank or the credit card provider. However, the banks and credit card company clearly state that this money is not supposed to be paid by the customer if customer is purchasing at MRP.
The practice of demanding extra 2-5% in case of credit card pyament is more rife among small shopkeepers, and seldom I have seen known retail chains or big shops asking for it. So, last week when I went to buy a rather pricey electronic item from Gizmos shop at Saket CityWalk, New Delhi, the request for extra 2% payment came as surprise. The shopkeeper insisted on not only getting 2% extra but also getting the extra payment in cash for which there was no bill. I insisted on getting a receipt for the extra charge but the shopkeeper summarily refused. This clearly smacked off some wrongdoings. First, the shopkeeper was charging extra money which was illegal and second he was receiving payment in black money by not providing receipts.
The shopping experience turned sour when he also insisted us on buying the mandatory accessories with the electronic item without which they refused to sell the product. Since, we had already made up our mind and the item was not available with other shopkeepers, we bought it paying 2% extra and with some accessories that we did not intend to buy. I am not sure whether the parent company Audio Voice is cognizant of these practices or it is the shopkeeper making some extra money, but I am not visiting Gizmos store again.
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The iPad 3rd generation (with ratina display) is a fantastic piece of technology but it is surely not for those who want to use it for prolonged period as a book reader. It is too big and too heavy to be a great ebook reader. So when the rumors started about the possibility of miniature version of iPad, I had this inkling that it would a good device for those who want to use iPad for their primary ebook reading device. And, yesterday’s Apple event confirmed that. iPad mini is great for those who want to buy a light portable ebook reader or for those who think the iPad is too big and bulky.
I would have surely gone for iPad mini had it been priced under USD 250. At sub USD 250 price, it would have killed the competition. But it does not deserve the USD 329 price. First, the display is quite a disappointement. Anyone who has used retina display iPad or iPhone would be disappointed by the low resolution display. Google Nexus and even Amazon Fire HD have better displays than this iPad. The processor and RAM are also not upto the current standards; it has A5 processor and RAM is only 512 MB.
On the technological innovation front, it offers nothing. It is just watered down miniature version of the iPad. Probably, I will be better buying Kindle Paperwhite if I need a great ebook reader. It comes much cheaper at USD 119 and Amazon does sell ebooks globally. For us living in India, iBook store is still not available for buying ebooks.
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Future Value : The future value of an asset or investment is the value of asset or investment on a specific date in future. Most of the people who use excel for financial analysis or accounting purpose rely heavily on the excel’s inbuilt function for deriving the future value.
FV = (rate, nper, pmt, [pv], [type])
Example: You just opened a bank account with Rs. 20000 and you have decided to deposit Rs. 4000 at the end of every month for next 10 years. The bank offers 9 per cent annual interest on the savings account. Now, you want to know how much money you will have in your account at the end of 10 years. Here you can use excel’s future value function to calculate the total amount that you will get at the end of 10 years.
Lets break this problem in key variables that will be required by the FV() of Excel.
Rate: 9 per cent per annum. But we need to calculate the monthly rate of interest as the period of payment is monthly. So Rate = 9%/12% = 0.75% or 0.0075 (Take note of the percentage sign).
Periods (nper): 120 months (10 years X 12 Months)
Payment (pmt) : -4000 (since its going out from your pocket, hence the minus sign)
Present Value (pv): – 20000 (same logic as above)
Type : 0 (if payment is deposited at the end of the period), 1 (if payment is deposited at the beginning of the period)
The function now becomes:
FV=(0.75%, 120, -4000, -20000,0)
You will get Rs. 823,084.25 as the result. This is the money you will receive at the end of the 10 years.
Day One is really very handy app for anyone interested in writing daily journals. It syncs beautifully to all your devices using either Dropbox or iCloud. You can use a password to protect your journal from prying eyes and it works perfectly. However, if you forget the password, reseting the password is not easy. You have to go through a number of steps, depending on whether you are keeping your content synced through Dropbox or iCloud. The detailed procedure is given here. But, the procedure given at the official support webpage does not apply for those users who are using iCloud for syncing on Mountain Lion. The reason, there is no ‘Mobile Document’ folder that you can access on Mountain Lion. But you can do it by deleting the ‘security.plist’.
‘Go to System Preferences’ -> ‘iCloud’
Click on Manage and Choose ‘Day One’ and then find ‘security.plist’ and delete it.
I really loved my Kindle classic, probably the best book reader around, but just las week it developed a snag with its displace and it made it completely unusable. There is a one ad that is stuck 3/4 of my display and only 1/4 of the screen is working properly. That means that you cannot use it for anything. I tried resetting many times but nothing seem to work.
I am wondering if there is any way to get it repaired in India. We got it from US and I think it is still under warranty. But the warranty is not available in India and I am not aware of any agency that does repair officially or unofficially. Did anyone face the same problem and more importantly did you get the kindle to work again?
I have been searching for a good blog-editor for MacOS and experimented with a number of them (Sadly there are not many available). Most of the professional bloggers on MacOS use either Ecto or MarsEdit and while these are decent options, these are not free and I would not say the best options for amateurs bloggers for two reasons. One, they are still have some bugs, and second, they are not free. There is another option Qumana, which is available all the platforms, but I find it rather slow and buggy.
Finally I settled down to Scribefire, a very powerful browser extension that is available for Firefox, Opera and Chrome and available for all platforms. It offeres all the features of a normal desktop blog-editor and very light on resources. It supports all the major blogging platforms (Blogger, WordPress, Liverjournal) and if you are using any of the free blogging platforms the installation is breeze. You just need to fill in the blog url and it automatically detects the settings.
Though configuring self-hosted blogs is a bit problematic. I did not detect the settings for my this (http://santoshsing.net) wordpress blog automatically and I had to provide the settings manually. But it is not that difficult. Here is how you can easily configure it.
1. First, login to your blog admin (htttp://blogurl/wp-admin)
2. Go to Dashboard–>Setting–>Writing and enable remote publising xml-rpc (tick it on if it is not already ticked)
3. Now install the ScribeFire extension in your browser, open it and click on Add a new blog.
4. Fill in the blog url, Select blogtype -Wordpress, and put your api url (http://yourblogurl/xml-rpc/php)
5. Provide your blog admin username and password.
You are all set to blog now.
Last week, Apple released beta version of the new chat/message client Message and I liked its interface and design. It is a great gift for users with multiple iOS/MacOS devices, you can start the conversation on one device and continue it on any of the iOS/MacOS device. It officially supports almost all the popular chat services such as Yahoo, gTalk, AIM etc.. but it does not support Facebook chat but there is a way around that:
Step 1: Login to your facebook account and see the url in browser address bar and note down the part after http://facebook.com/.. for example: if you see http://facebook.com/smsmt .. you note down the ‘smsmt’. This is your user name for facebook chat account.
Step 2: Go to Messages (if you have not downloaded and installed it.. check it on apple website) and go to preferences.
Step 3: Click on ‘Accounts’ and when the ‘Account’s’ window opens click on the ‘+’ sign on the bottom left corner.
Step 4: Select account type as ‘Jabber’ and in username field put email@example.com and enter your facebook password.
Now you can use Message with your facebook chat account.
I have been using Fast Track Chennai for almost a couple of years now, and I realized that I really need a better alternative in Chennai. I have missed my flight twice, reached late at least ten times and lost my temper almost every second time I call them to order for a cab. I can cite numerous reasons (yes, my list is surprisingly long!) but here are three major ones:
1. Their drivers are ill-trained and they never understand their responsibility of informing the customer in case their vehicle is broken or they are running late (which they almost always do if you need them on time.).
2. The call-center employees never understand your requirements and your timing and pick-up address are prone to be goofed up most of the time. Often then tend to attend more than one customer at the same time. Yes, you can easily make this thing from the phone call.
3. I know that it is my stupidity/lethargy/idleness that I did not learn Tamil and I understand that the drivers are not supposed to be fluent in Hindi or English (though most of the time Fast Track people assure me that they are sending driver who understands English), but I do expect the drivers to know the routes in the city. I am not able to count how many times I have got delayed or paid twice the normal fare due this reason.
There are a number of other operators whom I have started trying instead of Fast Track. Anyone knows a better option in Chennai?
After three days of initial outage, I finally got my iCloud mail id working. It was really strange the way iCloud smtp server behaved. But anyway, I think this problem is over. After configuring iCloud email on my mac and windows, I really needed it on my android phones so that I can check my mails on the go. Here is a step by step tutorial for configuring your email client on Android phones (the setting works almost on all the devices).
1. Go to the native email client application and go to new account setup.
2. Fill your email address “firstname.lastname@example.org or email@example.com” and password and click on the Manual Setup.
3. Choose IMAP and fill “p07-imap.mail.me.com” (or p01-imap.mail.me.com etc..)port: 993 and Security type : SSL.
4. On the following screen configure smtp server by entering these values SMTP Server: smtp.me.com Port: 587 Security type: TLS You need to check “Require Sign In” and provide your username and password. Keep in mind that your username should not be your full email id but just the part before @sign e.g enter sa123 for email id firstname.lastname@example.org.
5. Enter the values in option fields and enjoy your icloud mail on android. Note: You need to check your imap server as iCloud has assigned the different servers (p01-imap to p09-imap) to different email ids so check which one of the these works for you. You can also see this in your iOS device mail setting, use the same imap server for android.
Update: Please do let me know if this setting work for you… I would like to know whether this is working universally or just for a few. Update 2: Try changing your password of iCloud account if above settings are not working. For some servers this has solved the problem. Look at the comments sections, you can see what has worked for some other people. The best blog-editor for Mac (Do you agree with my choice…share your views here)
For someone who works on ‘understanding markets’ and is familiar with previous works of Michael Shermer, picking “The Mind of the Market” from the bookshelf was an impulsive decision. And, the blurb made it clear that I have an interesting read for my weekend.
Shermer, drawing extensively from behavioral economics, neuroscience, psychology and evolutionary biology, offers his explanation of our seemingly irrational and often unpredictable economic behavior. Shermer, en route to his explanations, builds an excellent repository of cutting edge research in several disciplines and provides his readers a plethora of interesting examples and theories which have been part of great debate among academics; this itself makes his book immensely valuable and enriching. He starts with drawing parallels between Charles Darwin’s theory of natural selection and Adam Smith’s invisible hand makes a cogent argument about interconnectedness of these two seminal works and how they affect behavior. His rebuttal of ‘Homo Economicus’ might not be very convincing to some but it does provide some good insights nonetheless.
“Morality of the market” and “morality and market” are the two themes you will come across in many chapters.
While Shermer confesses the limitation of research findings when applied to real life settings, yet he does resort often to the same for his arguments. Shermer cherry-picks cases and examples to establish the creativity and efficacy of markets and its self correcting mechanism; and this has invited a fair amount of criticism to this book. This was almost expected if you consider that Shermer is also known as skeptic and wrote a scathing criticism for Ayn Rand’s philosophy in his essay “The unlikeliest cult in history” , in this book Shermer the skeptics takes the back seat and Shermer the libertarian emerges very strongly.