The petrol pump owners use special chips sometimes to get petrol deducted by certain percentage whenever customer asks for round figure filing. They do it for popular amount only and not to all amounts. Petrol Pump scam (As told by my friend)

  • Don’t go for round figure refill amounts :If you always get your tank filled by round figure amount like 100,200,500 etc., you are surely duped of 10% of amount. The petrol pump owners use special chips sometimes to get petrol deducted by certain percentage whenever customer asks for round figure filing. They do it for popular amount only and not to all amounts. Why they are never caught in inspections then? Because inspectors measure for volume and not money!. They take a can and ask them to fill it with one liter of petrol. Task accomplished.

Take away : Always us uneven amounts like 370,420,570 etc.

  • Go for higher amount always : It is well-known that we must fill our tanks at night due to density properties of gasoline. Also there’s certain amount of wastage (About 50–100 ml) every time you fill your tank. This is unintentional but the error is always there. Hence it is advisable to go for higher and uneven amount like 770 etc.
  • Milk Can Scam : Your milk man cheats you daily in front of you.They have their measuring coups distorted at the bottom.I can’t get an image in google even then let me try.

Always check bottom Mam!

  • Vegetable vendor scam: Changing packets is common when prices are too steep. Beware of those cheap stuff!

https://www.youtube.com/watch?v=hv4ue97pqsM

Love scam : Nothing more to write about it. Quora knows it all!

  • Recycling Ganpati : I found latest one today (Sep 19th 2016). I am sorry if it hurts some religious sentiments. I just got a whatsApp forward and the truth is shocking. We all know that Ganpati is the major festival of Maharashtra and it ends with Ganpati Visarjan. What happened next is shocking. Watch yourself in this video.
  • Holiday membership scam : One more scam doing rounds is ‘Holiday membership scam’. It is not really a scam but a misinformed miss-calculation. Mathematically it makes little sense to take these holiday memberships.
    • Let us look at the calculations told by executive.You pay 3.5 L for 25 years of membership (Example) at 7 days a year. This amounts to 14 k per year for 7 days in 4 or 5 star resort. Add yearly maintenance fees and you still have 7 days in about 27 k, which comes to about 4 k per day. Still good ? Right ?
      • They say that one room is available for at least 5 k per night. Wrong. It is available at cheaper rate if you plan a month before.
      • They say that with inflation cost will increase. Wrong. Cost will increase so will be there AMC (It is tied to inflation).
      • You invest 3.5 lacs in one go or pay interest of 16% per annum.Let us assume a return of investment of 15% on your 3.5 L. It is common long-term return for share market.

        These companies are not doing any favor to you but investing your money for their new resorts.

        With the rule of 72, your money shall get doubled in approx 5 years.In ten years you have 14 L.In 15 yeas 28 L.In 20 years 56 L and in 25 years, your initial 3.5 L will become 1 crore 12 L !!.
      • These companies are not doing any favor to you but investing your money for their new resorts. Further research can prove that all the policies of these holiday companies are available at 50% discount on resale!
    • Tips
      • Never pay full amount. Pay in ECS or PDC and NOT in EMI (On EMI you pay full but pay in installments).
      • Always make them write their commitments on paper.
      • Negotiate as prices are not fixed and they can give you off for about 30% (Agents discount).

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What is the biggest scam that every Indian must be aware of?

 

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Hemant Pandey
Hemant lives in Mumbai (India),writes on Quora (2600 followers, 2.8 million views).Published 5 books on Amazon Kindle. Entrepreneur, Writer, Mathematician, Professor.