Mrc Simple Interest Quiz 2

5 Questions | Attempts: 40
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Mrc Simple Interest Quiz 2 - Quiz

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Questions and Answers
  • 1. 
    Wally invests $15,000 at a rate of 6% p.a. for 3 years. Calculate the simple interest that Wally will have earned over the three years. 
    • A. 

      $90,000

    • B. 

      2,700

    • C. 

      $270,000

    • D. 

      $2,700

  • 2. 
    Sandra invests $22,000 at a rate of 4% p.a. for 27 months. Calculate the simple interest earned over the 27 months. 
    • A. 

      $880

    • B. 

      $1,980

    • C. 

      $23,760

    • D. 

      $203.7

  • 3. 
    Charlie invests $2000 at a rate of 6% p.a. for 5 years. Calculate the total amount available at the end of the 5 years. 
    • A. 

      $600

    • B. 

      $1400

    • C. 

      $2000

    • D. 

      $2600

  • 4. 
    A finance company charged 14% p.a. simple interest. If Frank borrows $2000 to the repaid over 2 years, calculate his total repayment.
    • A. 

      $2560

    • B. 

      $1440

    • C. 

      $2000

    • D. 

      $560

  • 5. 
    Lara wins $5000 during a maths tournament. She wishes to invest her winnings, and has two choices given below. Which one gives her the greater total at the end of the time? 
    • A. 

      Choice 1: 8.5% p.a. simple interest for 4 years. 

    • B. 

      Option 2: 8% p.a. simple interest for 54 months.

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