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CBSE Questions for Class 11 Commerce Applied Mathematics Basics Of Financial Mathematics Quiz 2 - MCQExams.com

The _______ is the percentage of a sum of money charged for its use.
  • Principal
  • Interest
  • Rate of interest
  • Amount
Determine the principal when time =2 years, interest = Rs.1000; rate =2% p.a.
  • 10000
  • 20000
  • 15000
  • 25000
Choose the corrrect relation between simple and compound interest.
  • C.I>S.I.
  • C.I<S.I.
  • C.I=SI
  • Can't say
Which of the following is true about Annuity Contingent ?
  • It is made till the happening of an event.
  • It is made for fixed number of intervals of time.
  • Loans for home comes under it
  • All of the above
Which of the following is not an example of annuity contingent ?
  • Daughter's Marriage Loan
  • Life Insurance Plans
  • Mortgage
  • All of the above
What is true about Annuity Due ?
  • It is an annuity in which payments are made at the end of each payment period.
  • It is an annuity in which payments are made at the beginning of each payment period.
  • It is an annuity in which payments are made in the middle of each payment period.
  • None of the above
Determine the principal when time =2 years, interest = Rs. 1000; rate =5% p.a.
  • Rs. 10000
  • Rs. 20000
  • Rs. 30000
  • Rs. 40000
What will you call the extra amount of money you got as profit, after investing a certain amount?
  • Interest
  • Principle
  • Amount
  • Rate
Identify which amount is the original amount of money, the amount before any interest is applied?
  • Interest
  • Rate
  • Principle
  • Amount
Jacky borrows Rs. 2000 from the bank. The Principal of the loan is _____.
  • Rs. 1000
  • Rs. 2000
  • Rs. 3000
  • Rs. 4000
Calculate the principal when time =4 years, interest = Rs. 4000; rate = 10% p.a
  • 5,000
  • 10,000
  • 15,000
  • 20,000
In what time will Rs, 15,000 yield Rs. 4965 as compound interest at 10% per year compounded annually?
  • 3 years
  • 2 years
  • 1 years
  • 4 years
A sum of Rs.12,000 is invested for 3 years at 18 % per annum compound interest. Calculate the interest for the third year.
  • 2700
  • 2800
  • 2900
  • 3000
Find rate, when principal = Rs. 30,000; interest = Rs. 900; time = 3 years.
  • 1%
  • 2%
  • 4%
  • 5%
Calculate the principal when time =10 years, interest = Rs. 4000; rate = 5% p.a.
  • 5000
  • 6000
  • 7000
  • 8000
__________ is calculated on both the amount borrowed and any previous interest. 
  • simple interest
  • annual interest
  • compound interest
  • complex interest
A sum of Rs.12,000 is invested for 3 years at 18 % per annum compound interest. Calculate the interest for the second year.
  • 2500
  • 2525
  • 2550
  • 2575
Which interest is computed on the sum of an original principal and accrued interest?
  • Simple interest
  • Annual interest
  • Compound interest
  • Complex interest
A finance company declares that, with compound interest rate, a sum of money deposited by anyone will become 8 times in three years. if the same amount is deposited at the same compound-rate of interest, then in how many years it will become 128 times?
  • 4
  • 5
  • 6
  • 7
Determine the principal when time =4 years, interest = Rs.1000; rate =2% p.a.
  • 10,000
  • 12,500
  • 15,000
  • 20,000
An annuity whose payments continue till the happening of an event, the date of which cannot be foretold is called.
  • Contingent Annuity
  • Deferred Annuity
  • Perpetual Annuity
  • Annuity certain
A sum of Rs.25,000 is invested for 3 years at 20 % per annum compound interest. Calculate the interest for the third year.
  • 6000
  • 7200
  • 8400
  • 5000
Find the rate of interest if the interest Rs.1323 is earned on Rs.4200for3.5 years ?
  • R=9%
  • R=10%
  • R=12%
  • R=14%
I invested Rs.500 in the bank for a year. I neither deposited nor withdrew any money from my account. At the end of the year, I checked my account and found that I have Rs.600 in it. What is this extra amount called as?
  • Principal
  • Profit
  • Interest
  • Deposit
The period of time for which the interest is calculated is called the.
  • Market period
  • Cooling period
  • Conversion period
  • None of the above
The compound interest on Rs.64,000 for 3 years, compounded annually at 7.5% per annum is
  • Rs.14,400
  • Rs.15,705
  • Rs.15,507
  • Rs.15,075
If the periodic payments are all equal, the annuity is called level of.
  • Deferred Annuity
  • Uniform Annuity
  • Forborne Annuity
  • Immediate Annuity
If P=5,000, T=1, S.I.=Rs. 300, R will be.
  • 5%
  • 4%
  • 6%
  • None of the above
An annuity left unpaid for a certain number of years is called ________ for that number of years.
  • Deferred Annuity
  • Uniform Annuity
  • Forborne Annuity
  • Immediate Annuity
If the simple interest on 1700 rupees is 340 rupees for 2 years then the rate of interest must be:
  • 12 %
  • 15 %
  • 4 %
  • 10 %
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