Sawaal
  • Home/
  • Searching for 5%

 Searching for "5%"

Q:

A sapphire ring with a marked price of $1800 is offered to the purchaser on the following terms: $200 deposit and the balance to be paid over 24 equal monthly instalments with interest charged at 11.5% p.a. flat rate. Find the monthly repayments

A) $53 B) $42
C) $62 D) $82
 
Answer & Explanation Answer: D) $82

Explanation:

Total repayment amount = $1600 + $368
= $1968
= $82

regular payment= total amount/number of repayments

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

Townbank offers a term deposit account paying investors 12.5% p.a. simple interest on investments over $100 000 for 2 years or more. Peta decides to invest $150 000 in this account for 2 years. How much interest will Peta earn at the end of the investment?

A) 57500 B) 47500
C) 37500 D) 67500
 
Answer & Explanation Answer: C) 37500

Explanation:

I = (p x t x r)/100

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

Jaclyn buys $50 000 worth of debentures in a company. She earns 9.5% p.a. simple interest, paid to her quarterly (that is, every 3 months). If the agreed period of the debenture was 18 months: calculate the total amount collected at the end of the term.

A) 8125 B) 9125
C) 7125 D) 6125
 
Answer & Explanation Answer: C) 7125

Explanation:

total interest=1187.50*6

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

Jaclyn buys $50 000 worth of debentures in a company. She earns 9.5% p.a. simple interest, paid to her quarterly (that is, every 3 months). If the agreed period of the debenture was 18 months: calculate the amount of interest Jaclyn will earn for each quarter

A) 1187.50 B) 1234
C) 1289 D) 1345
 
Answer & Explanation Answer: A) 1187.50

Explanation:

I=(p x r x t)/100

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

An amount of $255 was invested at 8.5% p.a. How long will it take, to the nearest year, to earn $86.70 in interest?

A) 2years B) 3years
C) 4years D) 5years
 
Answer & Explanation Answer: C) 4years

Explanation:

T = (100 x I)/ (P x r)

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

When $720 is invested for 36 months it earns $205.20 simple interest. Find the yearly interest rate.

A) 7.5% B) 8.5%
C) 9.5% D) 10.5%
 
Answer & Explanation Answer: C) 9.5%

Explanation:

r = (100 x I)/(P x T)

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

A bank offers 9% p.a. simple interest on an investment. At the end of 4 years the interest earned was $215. How much was invested?

A) 597.22 B) 345
C) 456 D) 378
 
Answer & Explanation Answer: A) 597.22

Explanation:

I = (p x r x t)/100

 

 

 

 

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

Find the simple interest charged on borrowing $325 for 5 years at 3% p.a. (per annum or per year) interest.

A) 59 B) 46
C) 48.75 D) 34.75
 
Answer & Explanation Answer: C) 48.75

Explanation:

I= PTR100

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams
Job Role: Bank PO