Mrc Financial Maths 3

5 Questions

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Mrc Financial Maths 3

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Questions and Answers
  • 1. 
    Bruce invests $3,500 at 8% p.a. simple interest, for a period of time, to produce $210 interest. For how long did he invest the money? 
    • A. 

      1.3 years

    • B. 

      0.0048 years

    • C. 

      1.3 months

    • D. 

      13 years

  • 2. 
    Daniel invests $5,000 earns $6,000 simple interest in 12 years. Calculate the interest rate. 
    • A. 

      100%

    • B. 

      1%

    • C. 

      10%

    • D. 

      0.1%

  • 3. 
    Abbie invests $2,500 at 8% p.a. simple interest for a period of time and receives $50 interest. For how long (in months) did she invest the money?
    • A. 

      25 months

    • B. 

      .25 months

    • C. 

      3 years

    • D. 

      3 months

  • 4. 
    Jasmeen invests $400 and earns $80 simple interest in 2 years. Calculate the interest rate. 
    • A. 

      11%

    • B. 

      0.1%

    • C. 

      1%

    • D. 

      10%

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