CBSE Questions for Class 11 Commerce Applied Mathematics Basics Of Financial Mathematics Quiz 6 - MCQExams.com

Arjun wants to invest $$Rs. 15,000$$ in two types of bonds. He earns $$12\%$$ in the first type and $$15\%$$ in the second. His investment in $$15\%$$ bond, if he has a total earning of $$Rs. 1,950$$, is
  • $$Rs. 10,000$$
  • $$Rs. 5,000$$
  • $$Rs. 6,000$$
  • $$Rs. 7,000$$
Rs 2,000 amounts to Rs 2226.05 in two years at compound interest. The rate of interest is
  • 5.5%
  • 5%
  • 4.5%
  • 4%
The compound interest on Rs 64,000 for 1 year at the rate of 10% per annum compounded quarterly is
  • Rs 6644.025
  • Rs 7,600
  • Rs 8,500
  • none of these
The compound interest on $$Rs. 10,000$$ in $$\displaystyle2\frac{1}{2}$$ years at $$4\%$$ per annum is
  • $$Rs. 1,032.32$$
  • $$Rs. 1,045.50$$
  • $$Rs. 1,100.25$$
  • $$Rs. 1,150.70$$
An article can be sold for 20000 cash or for 12000 down payment and 4 equal monthly instalments of 2200 each. Find the interest paid.
  • 400
  • 600
  • 800
  • 1000
A sum of money invested at simple interest amounts to 2480 at the end of four years and 4080 at the end of eight years. Find the principal.
  • 2040
  • 1480
  • 1240
  • 880
Calculate the amount and the compound interest on Rs. $$12,000 $$ for $$2$$ years at $$5$$% per annum compounded annually.
  • Rs. $$13,500$$ and Rs. $$1500$$
  • Rs. $$13,230$$ and Rs. $$1,230$$
  • Rs. $$14728$$ and Rs. $$2,728$$
  • None of the above
A sum of money at simple interest amounts to  800 in 2 years and to 1200 in 6 years. The sum is
  • 600
  • 1000
  • 400
  • 500
A sum was put at SI at a certain rate for 8 years Had it been put at 4% higher rate it would have fetched Rs. 80 more Find the sum___
  • Rs. 300
  • Rs. 200
  • Rs. 250
  • Rs. 400
A sum of Rs. $$13,500$$ is invested at $$16\%$$ per annum compound interest for $$5$$ years. Calculate the interest for the second year, correct to the nearest rupee.
  • Rs. 2,106
  • Rs. 2,279
  • Rs. 2,506
  • Rs. 2,792
During every financial year, the value of a machine depreciates by 12%. Find the original cost of a machine which depreciates to Rs. 2,640 during the second financial year of its purchase.
  • 3409
  • 3333
  • 2365
  • 8551
John earned Rs. $$100$$ as simple interest on Rs. $$600$$ for $$6$$ months. Find the annual rate of interest.
  • $$11.11\%$$
  • $$22.22\%$$
  • $$33.33\%$$
  • $$44.44\%$$
Ajay had purchased a second hand scooter for Rs. $$18000$$ and spent Rs $$1800$$ for repairs. After $$1$$ year he wanted to sell the scooter. At what price should he sell it to gain $$\cfrac{100}{9}$$ $$\%$$ , if $$\cfrac {100}{11}$$ $$\%$$ is to be deducted at the end of every year on account of depreciation?
  • Rs. $$18000$$
  • Rs. $$19800$$
  • Rs. $$20000$$
  • Rs. $$22500$$
A certain sum is interested at compound interest . The interest occurred in the first two years is Rs. $$272$$ and that in the First three years is Rs. $$434$$. Find the rate $$\%$$ ?
  • $$33.33$$ $$\%$$
  • $$25$$ $$\%$$
  • $$12.5$$ $$\%$$
  • $$16.67$$ $$\%$$
Ramesh invests Rs. 12,800 for three years at the rate of 10% per annum compound interest. Find the interest he earns for the second year.
  • Rs. 1,162
  • Rs. 1,243
  • Rs. 1,408
  • Rs. 1,591
Find the sum, invested at 10% compounded annually, on which the interest for the third year exceeds the interest of the first year by Rs. 252.
  • $$Rs. 10,000$$
  • $$Rs. 12,000$$
  • $$Rs. 14,000$$
  • $$Rs. 16,000$$
Saurabh invests $$Rs.\ 48,000$$ for $$7$$ year at $$10\%$$ per annum compound interest. Calculate the interest for the first year.
  • $$Rs.\ 4,800$$
  • $$Rs.\ 4,900$$
  • $$Rs.\ 5,000$$
  • $$Rs.\ 5,100$$
Calculate the amount at the end of the second year.
  • Rs. $$42,856$$
  • Rs. $$48,140$$
  • Rs. $$52,937$$
  • Rs. $$58,080$$
In a city $$20 \%$$ of the total population is student community which is not employed , if the number of students who are unemployed is $$14000$$, then find the population of the city ?
  • $$56000$$
  • $$70000$$
  • $$40000$$
  • $$60000$$
  • None of these 
A sum of $$Rs.\ 9,600$$ is invested for $$3$$ years at $$10\%$$ per annum at compound interest.
What is the sum due at the end of the first year?
  • $$Rs.\ 10,560$$
  • $$Rs.\ 15,630$$
  • $$Rs.\ 20,360$$
  • $$Rs.\ 30,860$$
You invested Rs. $$1500$$ and received Rs. $$5000$$ after three years. What had been the interest rate?
  • $$111.11\%$$
  • $$222.22\%$$
  • $$333.33\%$$
  • $$77.77\%$$
In a culture, the present bacteria count was found as $$67,60,000$$. It was found that the number was increased by $$4\%$$ per hour. Find the number of hours before which the bacteria count was $$62,50,000$$.
  • $$1$$ hr
  • $$2$$ hr
  • $$3$$ hr
  • $$4$$ hr
Alex deposited x dollars into a new account that earned 8 percent annual interest, compounded annually. One year later Alex deposited an additional x dollars into the account. If there were no other transactions and if the account contained w dollars at the end of two years, which of the following expresses x in terms of w?
  • $$\displaystyle \frac { w }{ 1+1.08 } $$
  • $$\displaystyle \frac { w }{ 1.08+1.16 } $$
  • $$\displaystyle \frac { w }{ 1.16+1.24 } $$
  • $$\displaystyle \frac { w }{ 1.08+{ \left( 1.08 \right) }^{ 2 } } $$
  • $$\displaystyle \frac { w }{ { \left( 1.08 \right) }^{ 2 }+{ \left( 1.08 \right) }^{ 3 } } $$
Find the compound interest on Rs. $$7500$$ at $$4\%$$ per annum for $$2$$ years, compounded annually.
  • Rs. $$612$$
  • Rs. $$412$$
  • Rs. $$782$$
  • Rs. $$112$$
If money is invested at r percent interest, compounded annually, the amount of the investment will double in approximately 70/r years. If Pat's parents invested $5000 in a long term bond that pays 8 percent interest, compounded annually, what will be the approximate total amount of the investment 18 years later, when Pat is ready for college?
  • $$ $ 20,000$$
  • $$ $ 15,000$$
  • $$ $ 12,000$$
  • $$ $ 10,000$$
  • $$ $ 9,000$$
The rate of depreciation
  • 10%
  • 12%
  • 14%
  • 16%
Lucy invested $$10,000$$ in a new mutual fund account exactly three years ago. The value of the account increased by $$10$$ percent during the first year,increased by $$5$$ percent during the second year, and decreased by $$10$$ percent during the third year. What is the value of the account today? 
  • $$10350$$
  • $$10395$$
  • $$10500$$
  • $$11500$$
  • $$12705$$
The present population of town is $$12500$$ and it is increasing at the rate of $$8\%$$ per annum. What will be the population of town after two years?
  • $$14000$$
  • $$12500$$
  • $$14580$$
  • $$25000$$
Find the interest for the principal Rs. $$4110$$ at the rate of $$6\%$$ for $$2$$ years.
  • $$343.50$$
  • $$493.20$$
  • $$460.19$$
  • $$531.12$$
Find rate, when principal $$=$$ Rs. $$3000$$; interest $$=$$ Rs. $$400$$; time $$= 3$$ years.
  • $$1.11\%$$
  • $$2.22\%$$
  • $$3.33\%$$
  • $$4.44\%$$
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