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?

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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 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?

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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 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________?

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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

Mr. Tassawar Javed invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B?

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Mr. Tassawar Javed invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B?

A. Rs. 6400
B. Rs. 6500
C. Rs. 7200
D. Rs. 7500

Let the sum invested in Scheme A be Rs. x and that in Scheme B be Rs. (13900 – x).
then , (x*14*2/100)+(13900-x)*11*2/100) =3508
28x – 22x = 350800 – (13900 x 22)
6x = 45000
x = 7500.
So, sum invested in Scheme B = Rs. (13900 – 7500) = Rs. 6400.

A father left a will of Rs.35 lakhs between his two daughters aged 8.5 and 16 such that they may get equal amounts when each of them reach the age of 21 years. The original amount of Rs.35 lakhs has been instructed to be invested at 10% p.a. simple interest. How much did the elder daughter get at the time of the will?

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A father left a will of Rs.35 lakhs between his two daughters aged 8.5 and 16 such that they may get equal amounts when each of them reach the age of 21 years. The original amount of Rs.35 lakhs has been instructed to be invested at 10% p.a. simple interest. How much did the elder daughter get at the time of the will?

A. 17.5 lakhs
B. 21 lakhs
C. 15 lakhs
D. 20 lakhs

Nabeela took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest ?

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Nabeela took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest ?

A. 3.6
B. 6
C. 18
D. Cannot be determined