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Q:

Which one of the following laws explain the formation of carbon monoxide and carbon dioxide from carbon and oxygen

A) Laws of conservation of mass B) Laws of multiple proportion
C) Laws of reciprocal proportions D) Law of definite proportions
 
Answer & Explanation Answer: B) Laws of multiple proportion

Explanation:
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Filed Under: Chemistry

Q:

If there is a total of 104 weekly instalments and a third deposit, find: the total cost of the computer

A) 3932.55 B) 4932
C) 5932 D) 6932
 
Answer & Explanation Answer: A) 3932.55

Explanation:

Total cost = deposit + loan + interest
= 1231.67 + 2463.33 + 237.55
= $3932.55

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

Q:

If there is a total of 104 weekly instalments and a third deposit, find the interest rate

A) 2.82 B) 3.82
C) 4.82 D) 5.82
 
Answer & Explanation Answer: C) 4.82

Explanation:

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

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

Q:

If there is a total of 104 weekly instalments and a thirddeposit, find the interest charged

A) 237.55 B) 337
C) 443 D) 334
 
Answer & Explanation Answer: A) 237.55

Explanation:

Cash price = $3695

Deposit =1/3 of $3695 = $1231.67

Loan amount = $3695.00 − $1231.67 = $2463.33

Total cost of loan = $25.97 × 104= $2700.88

 

Interest charged = total amount − loan
I = A − P
= 2700.88 − 2463.33
= 237.55

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

Q:

Car is purchased on hire-purchase. The cash price is $21 000 and the terms are a deposit of 10% of the price, then the balance to be paid off over 60 equal monthly instalments. Interest is charged at 12% p.a.   What is the total cost of the car?

A) 30.240 B) 31.240
C) 33.240 D) 32,240
 
Answer & Explanation Answer: D) 32,240

Explanation:

Total cost = deposit + instalment amount × number of instalments

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

Q:

A car is purchased on hire-purchase. The cash price is $21 000 and the terms are a deposit of 10% of the price, then the balance to be paid off over 60 equal monthly instalments. Interest is charged at 12% p.a.  What is the monthly instalment?

A) $503 B) $504
C) $505 D) %506
 
Answer & Explanation Answer: B) $504

Explanation:

Cash price = $21 000

Deposit = 10% × $21 000 = $2100 

Loan amount = $21000 − $2100 = $18900

I=p x r x t/100 

I=11340

Total amount = 18900 + 11340 = $30240

Regular payment = total amount /number of payments

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

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

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

Q:

At the beginning of March, Ryan had $621 in his savings bank account. On 10 March he deposited $60. If the bank pays 8% p.a. interest paid monthly and calculated on the minimum monthly balance, calculate the interest Ryan earns in March.

A) 2.14 B) 3.14
C) 5.14 D) 4.14
 
Answer & Explanation Answer: D) 4.14

Explanation:

I = (P x T x R) /100

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