Simple And Compound Interest: Trivia Quiz

10 Questions | Total Attempts: 316

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Simple And Compound Interest: Trivia Quiz - Quiz

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Questions and Answers
  • 1. 
    Which is the formula for simple interest?
    • A. 

      P×R/100

    • B. 

      P×R×T/100

    • C. 

      P×V×R

    • D. 

      All can be used

  • 2. 
    Which is for principal?
    • A. 

      SI×100/R×T

    • B. 

      SI×R×T

    • C. 

      Si×100/R×2P

    • D. 

      A and C

  • 3. 
    What will the formulae of SI be if rates vary?
    • A. 

      SI(R×2P)/100

    • B. 

      2(SI +T)/100

    • C. 

      P×(R1+R2+R3+R4...)/100

    • D. 

      None of the above

  • 4. 
    Calculate the simple interest of an amount of 500, with 3% increase after 4 years?
    • A. 

      35,357

    • B. 

      500754

    • C. 

      79,3678

    • D. 

      None of the above

  • 5. 
    What is the difference between Money borrowed and amount?
    • A. 

      Simple interest

    • B. 

      Compound interest

    • C. 

      A and B

    • D. 

      None of the above

  • 6. 
    Which is a formula for Compound interest?
    • A. 

      P*1+5n

    • B. 

      A=P×[1+(r/100)] n

    • C. 

      R+n/100

    • D. 

      1+n/100

  • 7. 
    What is the compound interest of a rate of 3.5 % first year, 6.8 second year and 9% the third year. Calculate the amount.
    • A. 

      68,900

    • B. 

      36,895

    • C. 

      67,958

    • D. 

      None of the above

  • 8. 
    Which is the compound interest for 6 years?
    • A. 

      P×[1+(r/100]6n

    • B. 

      P×2n×6

    • C. 

      All of the above

    • D. 

      None of the above

  • 9. 
    Which is the formula for compound interest of six months?
    • A. 

      P[1+R/2/100] ^2n

    • B. 

      P×5(1+n)

    • C. 

      All of the above

    • D. 

      None of the above

  • 10. 
    What does amount mean?
    • A. 

      Money used to buy something

    • B. 

      Accumulation of money borrowed and interest

    • C. 

      The interest on money borrowed

    • D. 

      All of the above

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