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CBSE Questions for Class 11 Commerce Applied Mathematics Basics Of Financial Mathematics Quiz 1 - MCQExams.com

Anitha borrowed Rs.400 from her friend at the rate of 12% p.a for 2 and half year. Find the interest and amount paid by her?
  • Rs.140, Rs.540
  • Rs.130, Rs.530
  • Rs.125, Rs.525
  • Rs.120, Rs.520
A car is valued at Rs. 500000 If sits value depreciates at 2 % p.a.  What will be its value after three years? 
  • Rs. 29440
  • Rs. 470430
  • Rs. 470596
  • Rs. 470596
The population of a city increases by 30% every year. If the present population is 3,38,What will the population of the city two years ago?
  • 3,00,000
  • 2,50,000
  • 3,50,000
  • 2,00,000
If the amount repaid is Rs. 450 and the principal is Rs. 415, then interest is equal to
  • Rs. 25
  • Rs. 35
  • Rs.45
  • Rs. 50
_________ is interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan.
  • simple interest
  • compound interest
  • complex interest
  • annual interest
Identify in which type of interest rate is applied to the original principal and any accumulated interest?
  • simple interest
  • compound interest
  • complex interest
  • annual interest
Annuity, where the payments start after specified no. of periods, is known as
  • Immediate Annuity
  • Deferred annuity
  • Contingent annuity
  • Perpetual annuity
__________ is calculated on both the amount borrowed and any previous interest.
  • simple interest
  • annual interest
  • complex interest
  • compound interest
If the account statement states that the interest is compounded annually, then n= ?
  • 1
  • 2
  • 4
  • 8
The principal is Rs. 1000, so if you pay off Rs. 300, the remaining Rs. 700 left to repay is also called the
  • Interest
  • Rate
  • Principle
  • Amount
Find the principle if S.I is Rs.31.50, time period is 114 years and rate percent per annum is 5 14%.
  • Rs.460
  • Rs.430
  • Rs.480
  • Rs.4800
The correct relationship is
  • A+C.I=P
  • C.IP=A
  • C.I=AP
  • None of these
If the amount is Rs. 500 and the interest is Rs. 100, then principal is
  • Rs. 100
  • Rs. 400
  • Rs. 600
  • none of these
Simple interest on Rs.2000 for 4 years is Rs.Percent rate of interest is
  • 2000×100400×4
  • 400×42000×100
  • 400×1002000×4
  • None of these
Which of the following is an example of annuity contingent ?
  • Car Loan
  • House Loan
  • Daughter's Marriage
  • All of the above
A sum of money lent by Hari at simple interest becomes double of itself in 8 years. Then the sum will triple itself in
  • 16 years
  • 15 years
  • 20 years
  • 24 years
If the simple interest on a certain sum of money @ 4% for 5 years is Rs. 800, find the sum.
  • Rs. 4000
  • Rs. 9000
  • Rs. 12000
  • None of the above
A certain sum of money Q was deposited for 5 years and 4 months at 4.5\% simple interest and amounted to Rs\ 248. Then the value of Q is
  • Rs\ 200
  • Rs\ 210
  • Rs\ 220
  • Rs\ 240
Which term is called for the amount of money paid for a loan or an investment?
  • rate
  • time
  • principal
  • interest
The money borrowed or lent out for a certain period is called
  • Interest
  • Principal
  • Time Period
  • None of the above
Micheal deposits Rs.\ 5400 and got back an amount of Rs.\ 6000 after a year. What is the principal amount?
  • Rs.\ 6000
  • Rs.\ 600
  • Rs.\ 5400
  • Rs.\ 400
John borrows Rs. 2000 from the bank. The Principal of the loan is _____.
  • Rs. 1000
  • Rs. 2000
  • Rs. 3000
  • Rs. 4000
Identify which amount is the original amount of money, the amount before any interest is applied?
  • interest
  • time period
  • loan
  • principal
The principal is Rs. 1000, so if you pay off Rs. 500, the remaining Rs. 500 left to repay is also called the
  • interest
  • loan
  • principal
  • rate
A rate which is charged or paid for the use of money is know as
  • interest rate
  • principal
  • interest
  • amount
Sam invested a certain amount of money and got back an amount of Rs. 5000. If the bank paid an interest of Rs. 1700, find the amount Sam invested.
  • 5000
  • 1300
  • 3300
  • 1700
________ is most commonly used to refer to the amount borrowed or the amount still owed on a loan, separate from interest.
  • interest
  • loan
  • principal
  • rate
If payment of security is paid as  $100 at end of year for three years, it is an example of
  • fixed payment investment
  • lump sum amount
  • fixed interval investment
  • annuity
Security payment type in which payments are made at equal intervals of time and every payment amount is same is classified as _______________.
  • fixed interval investment
  • fixed payment investment
  • annuity
  • lump sum amount
Which option is an example of interest on interest?
  • simple interest
  • compound interest
  • complex interest
  • annual interest
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Practice Class 11 Commerce Applied Mathematics Quiz Questions and Answers