10 Questions
| Total Attempts: 7054

Questions and Answers

- 1.Mr. Smith deposited $40, 000 in a bank and earned simple interest at 7 % per annum for two years. Calculate the interest earned at the end of the period.
- A.
$ 4000

- B.
$2800

- C.
$5600

- D.
$3400

- E.
$200

- 2.Principal + Interest = ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
- 3.How much simple interest is due on a loan of US$120 for two years if the annual rate of interest is 5 ½ %.
- A.
$12

- B.
$13.20

- C.
$26.40

- D.
$26

- E.
$33

- 4.A man wishes to invest $1500. He can invest in uLintplus Investment club, which pays simple interest of 8%for 3 years. What is the amount in his account after 3 years?
- A.
$18321

- B.
$1860

- C.
$1830

- D.
$1524

- E.
$5024

- 5.Calculate the time T for $1000 to become$1300 at a rate of 5 %
- A.
3 years

- B.
6 years

- C.
9 years

- D.
6. 5 months

- E.
10 years

- 6.Find the sum that amounts to $2040 in 6 months at 4 %
- A.
$ 200

- B.
$2000

- C.
$1300

- D.
$2400

- E.
$1020

- 7.When you borrow money from the bank you pay
- 8.The amount of money borrowed or invested is called
- 9..............................the percent charged or earned
- 10.A sum of money at SI amounts to Rs. 815 in 3 year and Rs. 854 in 4 years. What is the sum?
- A.
Rs. 690

- B.
Rs. 698

- C.
Rs. 700

- D.
Rs. 750

- E.
Rs. 780

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