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Q:

# Jason decides to borrow money for a holiday. If a personal loan is taken over 4 years with equal quarterly repayments at 12% p.a. flat rate (simple interest), calculate the effective rate of interest.

 A) 22,588 B) 32.588 C) 42.588 D) 43.588

Answer:   A) 22,588

Explanation:

Flat rate = 12%
n = 4 × 4
= 16

Effective rate =2n/(n+1) × flat rate

Q:

What is the total earning after 2 years from Rs.18,750 on variable compound interest if the rate of interest for the first 4 year is 4% and for the second, it is 8%?

 A) ₹ 1,740 B) ₹ 1,760 C) ₹ 1,670 D) ₹ 2,310

Answer & Explanation Answer: D) ₹ 2,310

Explanation:
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1 1565
Q:

The simple interest on a sum of Rs.50,000 at the end of two years is Rs.4,000. What would be the compound interest on the same sum at the same rate for the same period ?

 A) 4,040 B) 4,080 C) 4,008 D) 8,000

Answer & Explanation Answer: B) 4,080

Explanation:
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0 1576
Q:

Rs. 775 invested for 6 years gives an interest of Rs. 372. The rate of simple interest per annum is:

 A) 8% B) 7% C) 9% D) 7.5 %

Answer & Explanation Answer: A) 8%

Explanation:
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0 250
Q:

In how many wars will an amount be doubled at 28.75% annual rate of interest?

 A) 3.00 B) 3.90 C) 3.47 D) 6.00

Answer & Explanation Answer: C) 3.47

Explanation:
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0 337
Q:

If in 13 years a fixed sum doubles at simple interest, what will be the interest rate per year? (Correct to two decimal places)

 A) 8.69% B) 7.69% C) 7.29% D) 7.92%

Answer & Explanation Answer: B) 7.69%

Explanation:
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0 142
Q:

The rate of simple interest on a sum of money is 5% p.a. for the first 4 years, 8% p.a. for the next 3 years and 10% p.a. for the period beyond 7 years. If the simple interest accrued by the sum over a period of 10 years is ₹1,850, then the sum is:

 A) ₹2,750 B) ₹1,650 C) ₹2,500 D) ₹1,500

Answer & Explanation Answer: C) ₹2,500

Explanation:
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2 289
Q:

$45-15$

 A) 25 B) C) D)

Answer & Explanation Answer: A) 25

Explanation:
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0 237
Q:

When two equal amounts are deposited for 5 years and 3 years at the rate of 7% and 9% per annum respectively, and the difference of their simple interest is Rs 475. Then find the deposited amount.

 A) Rs. 5,937.5 B) Rs. 5,992.5 C) Rs. 5,837.5 D) Rs. 6,037.5

Answer & Explanation Answer: A) Rs. 5,937.5

Explanation:
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