Exam Mode | Math Matters

Question 1 of 20

+1.0 Marks

Meena took a loan of $2500 at an annual rate of interest of R percent. For the following, find the amount to be paid after 2 years if interest is: (i) Compounded annually (ii) Compounded semi-annually (iii) Compounded monthly (iv) Compounded quarterly.

A Compounded annually: 2500(1 + R/100)^2 B Compounded semi-annually: 2500(1 + R/200)^4 C Compounded monthly: 2500(1 + R/1200)^24 D Compounded quarterly: 2500(1 + R/400)^8

Question 2 of 20

+1.0 Marks

A deposit of $20,000 earns interest at 10 percent per annum compounded semi-annually. Find the amount after 2 1/2 years.

A 20000(1 + 0.10/2)^5 B 20000(1 + 0.10/2)^2 C 20000(1 + 0.10/2)^10 D 20000(1.10)^2.5

Question 3 of 20

+1.0 Marks

$6000 is invested at 10 percent per annum compounded semi-annually. What will be the future value of the investment at the end of 2 1/2 years?

A 6000(1 + 0.10/2)^5 B 6000(1 + 0.10/2)^10 C 6000(1 + 0.10/2)^2 D 6000(1 + 0.10/2)^3

Question 4 of 20

+1.0 Marks

At what annual rate of interest, compounded annually, will $5,000 grow to $7,257.50 in 3 years?

A 10% B 12% C 15% D 8%

Question 5 of 20

+1.0 Marks

A sum of $2000 is invested at 7 percent annual interest compounded quarterly. How many years will it take for the investment to grow to $3000?

A ln(3/2) / [4 ln(1.0175)] B ln(3/2) / ln(1.0175) C ln(3/2) / ln(1.07) D ln(2/3) / [4 ln(1.0175)]

Question 6 of 20

+1.0 Marks

$6000 is invested at 10 percent per annum compounded semi-annually. What will be the future value of the investment at the end of 2 1/2 years?

A 6000(1 + 0.10/2)^5 B 6000(1 + 0.10/2)^10 C 6000(1 + 0.10/2)^2 D 6000(1 + 0.10/2)^3

Question 7 of 20

+1.0 Marks

A sum of $8,000 is invested at 5 percent annual interest compounded semi-annually. How much will the investment be worth at the end of 4 years?

A 8000(1 + 0.05/2)^4 B 8000(1 + 0.05/2)^8 C 8000(1.05)^4 D 8000(1.05)^8

Question 8 of 20

+1.0 Marks

$12,000 is deposited in a bank at 8 percent annual interest compounded monthly. Find the amount in the account at the end of 18 months.

A 12000(1 + 0.08/12)^18 B 12000(1 + 0.08/12)^24 C 12000(1 + 0.08/12)^12 D 12000(1 + 0.08/12)^6

Question 9 of 20

+1.0 Marks

Ravi deposited $15,000 in his bank account for only 8 months last year. The bank gives simple interest at the rate of 9 percent per annum, on each deposit. What would be the interest earned by Ravi for his deposit?

A $90 B $120 C $900 D $7200

Question 10 of 20

+1.0 Marks

If simple interest is given every month on $3000 at a rate of R percent per annum, what would be the amount after 4 months?

A 4R B 12000R C 3000(1 + 0.0033R) D 3000(1 + 0.33R)

Question 11 of 20

+1.0 Marks

Meena took a loan of $2500 at an annual rate of interest of R percent. For the following, find the amount to be paid after 2 years if interest is: (i) Compounded annually (ii) Compounded semi-annually (iii) Compounded monthly (iv) Compounded quarterly.

A Compounded annually: 2500(1 + R/100)^2 B Compounded semi-annually: 2500(1 + R/200)^4 C Compounded monthly: 2500(1 + R/1200)^24 D Compounded quarterly: 2500(1 + R/400)^8

Question 12 of 20

+1.0 Marks

A sum of $5000 is invested at 5 percent annual interest compounded quarterly. What will be the amount at the end of 2 years?

A $5000(1 + 0.05/4)^8 B $15000(1 + 0.05/4)^4 C $5000(1 + 0.05/4)^2 D $15000(1 + 0.05/4)^1

Question 13 of 20

+1.0 Marks

$8000 is invested at an annual interest rate of 6 percent compounded annually. What will be the future value of the investment at the end of 3 years?

A $8000(1.06)^3 B $8000(1.06)^2 C $8000(1.18) D $8000(1.06^3)

Question 14 of 20

+1.0 Marks

A deposit of $20,000 earns interest at 10 percent per annum compounded semi-annually. Find the amount after 2 1/2 years.

A 20000(1 + 0.10/2)^5 B 20000(1 + 0.10/2)^2 C 20000(1 + 0.10/2)^10 D 20000(1.10)^2.5

Question 15 of 20

+1.0 Marks

If $10,000 becomes $14,641.60 in 3 years when compounded annually, what is the annual rate of interest?

A 10% B 8% C 12% D 15%

Question 16 of 20

+1.0 Marks

If simple interest is given every month on $3000 at a rate of R percent per annum, what would be the amount after 4 months?

A 4R B 12000R C 3000(1 + 0.0033R) D 3000(1 + 0.33R)

Question 17 of 20

+1.0 Marks

A sum of $5000 is invested at 5 percent annual interest compounded quarterly. What will be the amount at the end of 2 years?

A $5000(1 + 0.05/4)^8 B $15000(1 + 0.05/4)^4 C $5000(1 + 0.05/4)^2 D $15000(1 + 0.05/4)^1

Question 18 of 20

+1.0 Marks

A sum of $5000 is deposited in a bank at the rate of 6% simple interest per annum. Find the amount after: (a) 1 year (b) 2 years (c) 3 years 6 months (d) 18 months.

A 1 year — $5,300 B 2 years — $5,600 C 3 years 6 months — $6,050 D 18 months — $5,450

Question 19 of 20

+1.0 Marks

$15,000 is invested at 9 percent per annum compounded quarterly. Find the amount in the account at the end of 3 years.

A 15000(1 + 0.09/4)^3 B 15000(1 + 0.09/4)^12 C 15000(1.09)^3 D 15000(1.09)^12

Question 20 of 20

+1.0 Marks

If $10,000 becomes $14,641.60 in 3 years when compounded annually, what is the annual rate of interest?

A 10% B 8% C 12% D 15%

Simple and Compound interest

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Simple and Compound interest

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