Money and Credit Test

Result

Money and Credit Test - 18

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Weekly Quiz Competition

Question 1
1 / -0

If the conversion period is $$6$$ months, the amount due at the end of $$n$$ years $$=$$?

A
$$P \left [\dfrac {1 - \dfrac {r}{2}}{100}\right ]^{2n}$$

B
$$P \left [\dfrac {1 - \dfrac {n}{2}}{100}\right ]^{2r}$$

C
$$P \left [\dfrac {1 + \dfrac {r}{2}}{100}\right ]^{2n}$$

D
None of above
Question 2
1 / -0

If the periodic payments are made at the end of each period; the annuity is called _________________.

A
annuity due

B
an immediate annuity

C
ordinary annuity

D
(B) or (C)
Question 3
1 / -0

If the conversion period is one year, the amount due at the end of $$n$$ years $$=$$?

A
$$P \left [1 - \dfrac {r}{100}\right ]^{n}$$

B
$$P \left [1 - \dfrac {n}{100}\right ]^{r}$$

C
$$P \left [1 + \dfrac {r}{100}\right ]^{n}$$

D
None of above
Question 4
1 / -0

An annuity which continues forever (an infinite number of years) is called a _______________.

A
contingent annuity

B
deferred annuity

C
perpetual annuity

D
annuity certain
Question 5
1 / -0

Find the rate of interest if the amount owed after $$6$$ months is $$Rs. 1,050$$. The borrowed amount is $$Rs. 1,000$$.

A
$$7$$%

B
$$8$$%

C
$$9$$%

D
$$10$$%

Solution

We know $$A = P + P.i.t$$
i.e. $$1050 = 1000 + 1000 \times i\times 6/12$$
$$50 = 500i$$
$$i = 1/10 = 10$$%.
Question 6
1 / -0

_______ of a given sum of money due at the end of a certain period of time is that sum which if invested now at the given rate of interest accumulates to the given sum at the end of the period.

A
Annuity

B
Interest

C
The present value

D
None of above
Question 7
1 / -0

The person who provides loan is known as a _______________.

A
money lender

B
borrower

C
payer

D
drawee

Solution

The person who provides loan is known as a money lender. In other words, the person who lends money to someone or any institution for the purpose of personal expenditure like consumption of goods and services or investment is known as a money lender.
Question 8
1 / -0

An annuity is _______________.

A
a fixed sum paid

B
paid at regular intervals

C
paid under certain stated conditions

D
All of above
Question 9
1 / -0

Credit creation is

A
Process where money is given by banks through loan

B
Process where the money is taken by lenders

C
Process by which the money is taken by depositors

D
All of the above
Question 10
1 / -0

Because money serves as a medium of exchange, it eliminates

A
the need to write checks.

B
The need for specialization.

C
The use of commodities as money

D
The need for a double coincidence of wants

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Re-Attempt Weekly Quiz Competition

Money and Credit Test - 18

Result

Money and Credit Test - 18

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SHARING IS CARING

Question 1

$$P \left [\dfrac {1 - \dfrac {r}{2}}{100}\right ]^{2n}$$

$$P \left [\dfrac {1 - \dfrac {n}{2}}{100}\right ]^{2r}$$

$$P \left [\dfrac {1 + \dfrac {r}{2}}{100}\right ]^{2n}$$

None of above

Question 2

annuity due

an immediate annuity

ordinary annuity

(B) or (C)

Question 3

$$P \left [1 - \dfrac {r}{100}\right ]^{n}$$

$$P \left [1 - \dfrac {n}{100}\right ]^{r}$$

$$P \left [1 + \dfrac {r}{100}\right ]^{n}$$

None of above

Question 4

contingent annuity

deferred annuity

perpetual annuity

annuity certain

Question 5

$$7$$%

$$8$$%

$$9$$%

$$10$$%

Solution

Question 6

Annuity

Interest

The present value

None of above

Question 7

money lender

borrower

payer

drawee

Solution

Question 8

a fixed sum paid

paid at regular intervals

paid under certain stated conditions

All of above

Question 9

Process where money is given by banks through loan

Process where the money is taken by lenders

Process by which the money is taken by depositors

All of the above

Question 10

the need to write checks.

The need for specialization.

The use of commodities as money

The need for a double coincidence of wants

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Question Analysis

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