Simple And Compound Interest Including Annuity - Applications

20 Questions  I  By Sweetsalman123
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1.  P = Rs. 10000, I = Rs. 2500, R = 12«math xmlns=¨http://www.w3.org/1998/Math/MathML¨»«mfrac»«mn»1«/mn»«mn»2«/mn»«/mfrac»«/math» % SI. The number of years T will be Options: A.1«math xmlns=¨http://www.w3.org/1998/Math/MathML¨»«mfrac»«mn»1«/mn»«mn»2«/mn»«/mfrac»«/math» years B.2 years C.3 years D.None of these
A.
B.
C.
D.
2.  A machine is depreciated at the rate of 20% on reducing balance. The original cost of the machine was Rs. 100000 and its ultimate scrap value was Rs. 30000. The effective life of the machine is
A.
B.
C.
D.
3.  Mr. X borrowed Rs. 5120 at 12 % % p.a C.I. At the end of 3 yrs, the money was repaid along with the interest accrued. The amount of interest paid by him is  
A.
B.
C.
D.
4.  The C.I on Rs. 40000 at 10% p.a for 1 year when the interest is payable quarterly is
A.
B.
C.
D.
5.  The time in which a sum of money will be double at 5% p.a C.I is
A.
B.
C.
D.
6.  If P = Rs. 1000, R = 5% p.a, n = 4; What is Amount and C.I. is 
A.
B.
C.
D.
7.  Mr. Paul borrows Rs. 20000 on condition to repay it with C.I. at 5% p.a in annq installments of Rs. 2000 each. The number of years for the debt to be paid off is
A.
B.
C.
D.
8.  The amount of an annuity certain of Rs. 150 for 12 years at 3.5% p.a C.I is 
A.
B.
C.
D.
9.  A person desires to create a fund to be invested at 10% CI per annum to provide for a prize of Rs. 300 every year. Using V = a/I find V and V will be
A.
B.
C.
D.
10.   If A = Rs. 1000, n = 2 years, R=6% p.a compound interest payable half-yearly, then principal ( P ) is
A.
B.
C.
D.
11.  A man purchased a house valued at Rs. 300000. He paid Rs. 200000 at the time of purchase and agreed to pay the balance with interest at 12% per annum compounded half yearly in 20 equal half yearly instalments. If the first instalment is paid after six months from the date of purchase then the amount of each instalment is [Given log 10.6 = 1.0253 and log 31.19 - 1.494]
A.
B.
C.
D.
12.  If P = Rs. 4500, A = Rs. 7200, than Simple interest i.e. I will be 
A.
B.
C.
D.
13.  The effective rate of interest corresponding a nominal rate of 7% p.a convertible quarterly is
A.
B.
C.
D.
14.  A person invests Rs. 500 at the end of each year with a bank which pays interest at 10% [Given lc a C.I. annually. The amount standing to his credit one year after he has made his yearly investment for the 12th time is.
A.
B.
C.
D.
15.  If the amount of an annuity after 25 years at 5% p.a C.I is Rs. 50000 the annuity will be
A.
B.
C.
D.
16.  The effective rate of interest corresponding to a nominal rate 3% p.a payable half yearly is 
A.
B.
C.
D.
17.  The present value of annuity of Rs. 5000 per annum for 12 years at 4% p.a C.I. annually is 
A.
B.
C.
D.
18.  The C.I on Rs. 16000 for 1 Vi years at 10% p.a payable half -yearly is 
A.
B.
C.
D.
19.  A = Rs. 1200 n = 12 yrs i = 0.08 v = ?Using the formula «math xmlns=¨http://www.w3.org/1998/Math/MathML¨»«mi mathvariant=¨bold¨»V«/mi»«mo»=«/mo»«mfrac»«mi mathvariant=¨bold¨»A«/mi»«mi mathvariant=¨bold¨»i«/mi»«/mfrac»«mfenced close=¨]¨ open=¨[¨»«mrow»«mn»1«/mn»«mo»-«/mo»«mfrac»«mn»1«/mn»«mrow»«mo»(«/mo»«mn»1«/mn»«mo»+«/mo»«mi»i«/mi»«msup»«mo»)«/mo»«mi»n«/mi»«/msup»«/mrow»«/mfrac»«/mrow»«/mfenced»«/math» value of v will be
A.
B.
C.
D.
20.  A = Rs. 100 n = 10 /= 5% find the FV of annuity. Using the formula FV = a / {1 + i)n-l}, M is equal to 
A.
B.
C.
D.
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