Mathematics Mcqs

A man wants to sell his scooter. There are two offers, one at Rs. 12,000 cash and the other a credit of Rs. 12,880 to be paid after 8 months, money being at 18% per annum. Which is the better offer?

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A man wants to sell his scooter. There are two offers, one at Rs. 12,000 cash and the other a credit of Rs. 12,880 to be paid after 8 months, money being at 18% per annum. Which is the better offer?

A. Rs. 12,000 in cash
B. Rs. 12,880 at credit
C. Both are equally good
D. Rs. 18.33

Rs. 800 amounts to Rs. 920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to how much ?

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Rs. 800 amounts to Rs. 920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to how much ?

A. Rs. 992
B. Rs. 1112
C. Rs. 1056
D. Rs. 1182
Principal = 800 SI = 120 Time = 3 year
Rate = (100*120/800*3) = 5%
New rate = 8 % principal = 800 time 3 year
SI = (800*8*3/100) = 192
New amount = 800 + 192= 992

A man invests a certain sum of money at 6% per annum simple interest and another sum at 7% per annum simple interest. His income from interest after 2 years was Rs. 354. One-forth of the first sum is equal to one-fifth of the second sum. The total sum invested was :

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A man invests a certain sum of money at 6% per annum simple interest and another sum at 7% per annum simple interest. His income from interest after 2 years was Rs. 354. One-forth of the first sum is equal to one-fifth of the second sum. The total sum invested was :

A. Rs.3100
B. Rs.2700
C. Rs.2200
D. Rs.1800
Let the man invests Rs.x at 6% and Rs.y at 7%
Simple Interest on Rs.x at 6% for 2 years + Simple Interest on Rs.y at 7% for 2 years = Rs.354
x×6×2/100+y×7×2/

You deposit $600 into a 6 month certificate of deposit. After 6 months the balance is $618. Find the simple annual interest rate

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You deposit $600 into a 6 month certificate of deposit. After 6 months the balance is $618. Find the simple annual interest rate

A. 6%
B. 5%
C. 7%
D. 8%
1. To find the interest, subtract the principal from the balance.
$618 – $600 = $18
2.Use the simple interest formula and solve for r.
I = Prt
18= 600 x r x (1/2)
r= 0.06 =6%

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?

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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 years
B. 56 years
C. 45 years
D. 57 years
Simple interest is given by the formula SI = (pnr/100), where p is the principal, n is the numberof years for which it is invested, r is the rate of interest per annum
In this case, Rs. 1250 has become Rs.10,000.
Therefore, the interest earned = 10,000 – 1250 = 8750.
8750 = [(1250 x n x 12.5)/100]
=> n = 700 / 12.5 = 56 years.