Financial Math Quiz

Explanation
The sum can be calculated using the formula for simple interest: I = P * R * T, where I is the interest, P is the principal sum, R is the rate, and T is the time. In this case, we are given that the interest is R4016.25, the rate is 9% per annum, and the time is 5 years. Plugging these values into the formula, we can solve for the principal sum. The correct answer is R8925.

Explanation
To find the sum of money, we need to calculate the difference between the amounts after 4 years and 3 years. The difference is R854 - R815 = R39. This difference represents the interest earned in the 4th year. Since the interest is earned annually, we can divide R39 by 1 to get the interest earned in one year, which is R39. Now, we subtract this interest from the amount after 3 years to find the initial sum of money: R815 - R39 = R776. Therefore, the sum of money is R776, which is not one of the given options. Thus, the question is incomplete or not readable.

Explanation
Let the amount invested in scheme A be x, then the amount invested in scheme B would be (13900 - x).

Using the formula for simple interest, we can calculate the interest earned from scheme A as (x * 14% * 2) and the interest earned from scheme B as ((13900 - x) * 11% * 2).

Given that the total interest earned is R3508, we can set up the equation:

(x * 14% * 2) + ((13900 - x) * 11% * 2) = 3508

Simplifying this equation, we find that x = 6400.

Therefore, the amount invested in scheme B is R6400.

Explanation
At a 4.5% interest rate per annum, the interest earned is calculated as a percentage of the principal amount. To find the time it takes for an amount of Rs. 900 to yield Rs. 81 in interest, we can use the formula: Time = (Interest / (Principal * Rate)). Plugging in the given values, we get Time = (81 / (900 * 0.045)) = 2 years. Therefore, it will take 2 years for an amount of Rs. 900 to yield Rs. 81 as interest at a 4.5% per annum simple interest rate.

Explanation
Let the amount invested in scheme A be x and the amount invested in scheme B be (13900 - x).
The simple interest earned from scheme A in 2 years is (x * 14 * 2) / 100 = 28x/100.
The simple interest earned from scheme B in 2 years is ((13900 - x) * 11 * 2) / 100 = (27800 - 22x)/100.
Given that the total simple interest earned is 3508, we can set up the equation:
28x/100 + (27800 - 22x)/100 = 3508.
Simplifying the equation, we get:
6x/100 = 3508 - 27800/100.
Solving for x, we find x = 7200.
Therefore, the amount invested in scheme B is 13900 - 7200 = 6700.
Hence, the correct answer is R7200.

Explanation
Arun took a loan of Rs. 1400 with simple interest for as many years as the rate of interest. This means that the rate of interest is equal to the number of years. Arun paid Rs. 686 as interest at the end of the loan period. To find the rate of interest, we can use the formula: Interest = Principal * Rate * Time. Plugging in the values, we have 686 = 1400 * Rate * Rate. Solving for Rate, we get Rate = 7%.

Explanation
Direct Debit is a payment method that allows companies to take money directly from a person's bank account to pay for goods or services. It is not a deduction from your pay each month, as it is a separate transaction that you authorize. Tax and National Insurance, on the other hand, are deductions that are typically taken from an individual's salary or wages each month.

Explanation
Sean earns £6.83 per hour and works for 38 hours per week. To calculate his weekly gross pay, we can multiply his hourly rate by the number of hours he works. £6.83 x 38 = £259.34. Therefore, the correct answer is £255.45.

Explanation
Charlie earns £1,980 per month and pays income tax at a rate of 20%. To calculate how much tax Charlie pays per month, we multiply her monthly income by the tax rate. 20% of £1,980 is £396. Therefore, Charlie pays £396 in tax per month.

Explanation
If £250 is invested at a simple interest rate of 2% for 2 years, the interest earned would be £5 (250 * 0.02 * 2). Adding this interest to the initial investment, the total amount in the bank would be £255. Therefore, the correct answer is £260.