## You deposit \$600 into a 6 month certificate of deposit. After 6 months…

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# interest Mcqs

## How long will it take for a sum of money to grow from Rs.1250 to Rs.10,000, if it is invested at…

How long will it take for a sum of money to grow from Rs.1250 to Rs.10,000, if it is invested at 12.5% p.a simple interest? A. 65 yearsB. 56 years C. 45 years D. 57 years Simple interest is given by the formula SI = (pnr/100),…

## What is the rate of interest at which Rs.150 becomes Rs. 220 in 10 years.

What is the rate of interest at which Rs.150 becomes Rs. 220 in 10 years. A. 11/3%B. 14/3% C. 12% D. 14%

## A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum…

A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is :________? A. Rs. 700 B. Rs. 690 C. Rs. 650D. Rs. 698 Simple Interest (SI) for 1 year = 854-815 = 39 Simple Interest (SI) for 3…

## A sum was put at simple interest at a certain rate for 3 years. Had it been put at 2% higher rate,…

A sum was put at simple interest at a certain rate for 3 years. Had it been put at 2% higher rate, it would have fetched Rs 360 more. Find the sum. A. Rs.4000 B. Rs.9000 C. Rs.5000D. Rs.6000 Let sum = P and original rate = R. Then…

## A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of…

A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is: A. 5% B. 8%C. 12% D. 15% S.I. for 3 years = Rs. (12005 – 9800) = Rs. 2205. S.I.…

## A sum of Rs. 2500 amounts to Rs. 3875 in 4 years at the rate of simple interest. What is the rate of…

A sum of Rs. 2500 amounts to Rs. 3875 in 4 years at the rate of simple interest. What is the rate of interest? A. 12.25% B. 12% C. 6%D. 13.75% Simple Interest, SI = (3875 – 2500) = Rs.1375 Principal, P = Rs. 2500 Time, T = 4 years…

## A sum of money becomes 7⁄5 of itself in 4 years at a certain rate of simple interest. The rate per…

A sum of money becomes 7⁄5 of itself in 4 years at a certain rate of simple interest. The rate per annum is : A. 9%B. 10% C. 11% D. 12%

## If there is a total of 104 weekly instalments and a third deposit, find the interest charged

If there is a total of 104 weekly instalments and a third deposit, find the interest charged A. 237.55 B. 337 C. 443 D. 334 Cash price = \$3695 Deposit =1/3 of \$3695 = \$1231.67 Loan amount = \$3695.00 − \$1231.67 = \$2463.33 Total…

## What annual installment will discharge a debt of Rs 1092 due in 3 years at 12% simple interest?

What annual installment will discharge a debt of Rs 1092 due in 3 years at 12% simple interest? A. Rs.325 B. Rs.545 C. Rs.560 D. Rs.550

## If the simple interest on a certain sum of money after 3 1⁄8 years is 1⁄4 of the principal, what is…

If the simple interest on a certain sum of money after 3 1⁄8 years is 1⁄4 of the principal, what is the rate of interest per annum? A. 6% B. 4%C. 8% D. 12%