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interest Mcqs

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

interest Mcqs, Mathematics Mcqs /
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
R = ?
R=100×SI/PT=100×13752/500×4
=100×1375/10000=13.75%

A sum of Rs. 2500 amounts to Rs. 3875 in 4 years at the rate of simple interest. What is the rate of interest? Read More »

interest Mcqs, Mathematics Mcqs

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

interest Mcqs, Mathematics Mcqs /
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 cost of loan = $25.97 × 104
= $2700.88
Interest charged = total amount − loan
I = A − P
= 2700.88 − 2463.33
= 237.55

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

interest Mcqs, Mathematics Mcqs

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?

interest Mcqs, Mathematics Mcqs /
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%

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? Read More »

interest Mcqs, Mathematics Mcqs

How much time will it take for an amount of Rs. 900 to yield Rs. 81 as interest at 4.5% per annum of simple interest?

interest Mcqs, Mathematics Mcqs /
How much time will it take for an amount of Rs. 900 to yield Rs. 81 as interest at 4.5% per annum of simple interest?

A. 2 years
B. 3 years
C. 1 year
D. 4 years
P = Rs.900
SI = Rs.81
T = ?
R = 4.5%
T=100×SI/PR =100*81/900*4.5 =2 years

How much time will it take for an amount of Rs. 900 to yield Rs. 81 as interest at 4.5% per annum of simple interest? Read More »

interest Mcqs, Mathematics Mcqs

A sum was put a simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, it would have fetched Rs. 60 more. The sum is:________?

interest Mcqs, Mathematics Mcqs /
A sum was put a simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, it would have fetched Rs. 60 more. The sum is:________?

A. Rs.750
B. Rs.700
C. Rs.820
D. Rs.940

A sum was put a simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, it would have fetched Rs. 60 more. The sum is:________? Read More »

interest Mcqs, Mathematics Mcqs

A car is purchased on hire-purchase. The cash price is $21 000 and the terms are a deposit of 10% of the price, then the balance to be paid off over 60 equal monthly installments. Interest is charged at 12% p.a. What is the monthly installment?

interest Mcqs, Mathematics Mcqs /
A car is purchased on hire-purchase. The cash price is $21 000 and the terms are a deposit of 10% of the price, then the balance to be paid off over 60 equal monthly installments. Interest is charged at 12% p.a. What is the monthly installment?

A. $503
B. $504
C. $505
D. $506
Cash price = $21 000
Deposit = 10% × $21 000
= $2100
Loan amount = $21 000 − $2100
= $18 900
I=p*r*t/100
I=11340
Total amount = 18 900 + 11 340
= $30 240
regular payment = total amount /number of payments

A car is purchased on hire-purchase. The cash price is $21 000 and the terms are a deposit of 10% of the price, then the balance to be paid off over 60 equal monthly installments. Interest is charged at 12% p.a. What is the monthly installment? Read More »

interest Mcqs, Mathematics Mcqs

A sum of Rs. 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both the loans. What was the original rate of interest?

interest Mcqs, Mathematics Mcqs /
A sum of Rs. 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both the loans. What was the original rate of interest?

A. 3.46%
B. 4.5%
C. 5%
D. 6%

Let the original rate be R%. Then, new rate = (2R)%.
Note: Here, original rate is for 1 year(s); the new rate is for only 4 months i.e.1/3 year(s).
[(725 x r x1)/100] + [(362.50 x 2r x1)/(100 x 3)] = 33.50
R=3.46%

A sum of Rs. 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both the loans. What was the original rate of interest? Read More »

interest Mcqs, Mathematics Mcqs

A lends Rs. 1500 to B and a certain sum to C at the same time at 8% per annum simple interest. If after 4 years, A altogether receives Rs. 1400 as interest from B and C, then the sum lent to C is________?

interest Mcqs, Mathematics Mcqs /
A lends Rs. 1500 to B and a certain sum to C at the same time at 8% per annum simple interest. If after 4 years, A altogether receives Rs. 1400 as interest from B and C, then the sum lent to C is________?

A. Rs.2875
B. Rs.1885
C. Rs.2245
D. Rs.2615

A lends Rs. 1500 to B and a certain sum to C at the same time at 8% per annum simple interest. If after 4 years, A altogether receives Rs. 1400 as interest from B and C, then the sum lent to C is________? Read More »

interest Mcqs, Mathematics Mcqs