0
Q:

n is an integer chosen at random from the set

{5, 7, 9, 11 }

p is chosen at random from the set

{2, 6, 10, 14, 18}

What is the probability that n + p = 23 ?

A) 0.1 B) 0.2
C) 0.25 D) 0.3

Answer:   A) 0.1



Explanation:

Each of the integers in the first set could be combined with any from the second set, giving a total of 4 x 5 = 20 possible pairs.

Of these the combinations that could give a sum of 23 are (5 + 18), and (9 + 14)

This means that the probability of getting a sum of 23 is 2/20 = 1/10

Q:

Bob Kashir deposited $6000 in a 4-year certificate of deposite paying 5% compounded daily.He withdrew the money 15 months later.The passbook rate at his bank is 3.5 % compounded daily.Find his amount of interest

A) 5678 B) 4563
C) 4329 D) 6210.73
 
Answer & Explanation Answer: D) 6210.73

Explanation:

Bob receives 15-3 = 12 months of 3.5 % interest compounded daily

 

 

 

M=P(1+i/365)^365n

Report Error

View Answer Report Error Discuss

0 2710
Q:

Find the compound amount if $1200 is deposited at 8% interest for 11 years if interest is compounded continuously

A) 1456 B) 1456
C) 1693.08 D) 1890
 
Answer & Explanation Answer: C) 1693.08

Explanation:

M=Pe^yr

 

2893.08

 

I=M-P

Report Error

View Answer Report Error Discuss

0 2462
Q:

Find the compound amount if $2900 is deposited at 5% interest for 10 years if interest is compounded daily

A) 4781.13 B) 5781
C) 3456 D) 4567
 
Answer & Explanation Answer: A) 4781.13

Explanation:

M=P(1+i/365)^365n

Report Error

View Answer Report Error Discuss

0 2177
Q:

$32000 is invested at 10% for 2 years.Find the interest compounded Yearly

A) 4720 B) 5720
C) 6720 D) 7720
 
Answer & Explanation Answer: C) 6720

Explanation:

M=P(1+i)^n

 

I=M-P

Report Error

View Answer Report Error Discuss

0 1993
Q:

Example:$800 is invested at 7% for 6 years.Find the interest compounded anually?

A) 400.58 B) 300.58
C) 200.58 D) 100.58
 
Answer & Explanation Answer: A) 400.58

Explanation:

M=P(1+i)^n

 

I=M-P

Report Error

View Answer Report Error Discuss

0 2432
Q:

Dianna deposits $725 into a savings account that pays 2.3% simple annual interest. How much interest will Dianna earn after 18 months?

A) 23.01 B) 24.01
C) 25.01 D) 26.01
 
Answer & Explanation Answer: C) 25.01

Explanation:

I = Prt

Report Error

View Answer Report Error Discuss

0 3329
Q:

A sum of money becomes 7/6 of itself in 3 years at a certain rate of simple interst. The rate per annum 

A) 5% B) 5.5%
C) 6% D) 6.5%
 
Answer & Explanation Answer: B) 5.5%

Explanation:

sum = x. amount =7x/6.

S.I. =(7x/6 – x) = x/6 ; time = 3 years

Rate =[ (100 * x) / (x * 6 * 3)]% = 5.5%

Report Error

View Answer Report Error Discuss

18 22235
Q:

If a sum of money at simple interest doubles in 6 years, it will become  4 times in

A) 15years B) 16years
C) 17years D) 18years
 
Answer & Explanation Answer: D) 18years

Explanation:

 

 

 

 

 

 

let sum =x . s.i.=x

 

 

 

rate =(100*x)/(x*6)=50/3%

 

 

 

now ,sum =x, s.i= 3x, rate =50/3%

 

 

 

time =(100*3x)/(x*50/3) = 18 years

Report Error

View Answer Report Error Discuss

11 12255