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Q:

If the compound interest on a certain sum at $16 \frac{2}{3}$ % to 3 years is Rs.1270, find the simple interest on the same sum at the same rate and f or the same period.

A) 1080	B) 1090
C) 1180	D) 1109

Answer & Explanation Answer: A) 1080

Explanation:

Let the sum be Rs. x. Then,

$C . I = [x * {(\frac{50}{300 * 100})}^{3} - x] = (\frac{343 x}{216} - x) = \frac{127 x}{216}$

$\Leftrightarrow \frac{127 x}{216} = 1270$

$x = 2160$

Thus, the sum is Rs. 2160

$S . I = R s . [2160 * \frac{50}{3} * 3 * \frac{1}{100}] = R s 1080$

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Q:

If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate.

A) 1261	B) 1271
C) 1281	D) 1291

Answer & Explanation Answer: A) 1261

Explanation:

Clearly, Rate = 5% p.a., Time = 3 years, S.I.= Rs. 1200. . .
So principal=RS [100*1200]/3*5=RS 8000
Amount = Rs. 8000 x [1 +5/100]^3 - = Rs. 9261.
.. C.I. = Rs. (9261 - 8000) = Rs. 1261.

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Q:

Determine the nominal rate of interest if:

The periodic rate is 0.83% per month

A) 7%	B) 8%
C) 9%	D) 10%

Answer & Explanation Answer: D) 10%

Explanation:

j=mi

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Q:

Determine the nominal rate of interest if:
The periodic rate is 1.75% per quarter.

A) 7%	B) 8%
C) 9%	D) 10%

Answer & Explanation Answer: A) 7%

Explanation:

j=mi

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Q:

For a nominal interest rate of 8.4%, what is the compounding frequency if the periodic interest rate is:0.7

A) 9	B) 10
C) 11	D) 12

Answer & Explanation Answer: D) 12

Explanation:

i=j/m

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Q:

For a nominal interest rate of 8.4%, what is the compounding frequency if the periodic interest rate is:2.1

A) 1	B) 2
C) 3	D) 4

Answer & Explanation Answer: D) 4

Explanation:

i=j/m

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Q:

If a cellphone is purchased for Rs.490 and sold for Rs.465.50 find the loss percentage?

A) 10	B) 5
C) 20	D) 15

Answer & Explanation Answer: B) 5

Explanation:

loss = C.P - S.P = 490 - 465.50 =24.50

loss % = (loss x 100)/C.P = (24.50 x 100)/490 = 5%

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Q:

For a nominal interest rate of 8.4%, what is the compounding frequency if the periodic interest rate is 8.4

A) 1	B) 2
C) 3	D) 4

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