Basics of Financial Mathematics Test 42

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Basics of Financial Mathematics Test 42

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Weekly Quiz Competition

Question 1
1 / -0

A person invested part of Rs.$$45000$$ at $$4$$% and the rest at $$6$$%. If his annual income from both are equal, then what is the average cost of interest?

A
$$4.6$$%

B
$$4.8$$%

C
$$5.0$$%

D
$$5.2$$%
Question 2
1 / -0

The principal which yields a simple interest of $$Rs. 90$$ at $$6$$% per annum in $$3$$ years is

A
$$Rs. 270$$

B
$$Rs. 500$$

C
$$Rs. 540$$

D
$$Rs. 720$$

Solution
Question 3
1 / -0

The population of a State increased from $$100$$ million to $$169$$ million in two decades. What is the average increase in population per decade?

A
$$20$$%

B
$$34.5$$%

C
$$69$$%

D
$$30$$%
Question 4
1 / -0

Depreciation, as the term is used in accounting, means ___________.

A
Physical deterioration of a fixed asset

B
Decline in the market value of an asset

C
Allocation of the cost of fixed asset over its useful life

D
A business expense for acquiring asset

Solution

Assets that are used in the business for the long term to earn future economic benefits are termed fixed assets. The cost of such fixed assets is allocated and charged to profit and loss account over the usefulness of the asset which is called depreciation. Such depreciation is a reduction in the value of assets over a period of time due to the wear and tear of the assets.
Question 5
1 / -0

The population of a City decreases by 3% of the initial at the beginning of every year. If the present population is 1,25,000, what will be after 2 years?

A
1,17,600

B
1,17,610

C
17,610

D
1,17,613
Question 6
1 / -0

A town's population increased by $$1200$$ people, and then this new population decreased $$11$$%. The town now had $$32$$ less people than it did before the $$1200$$ increase. Find the original population.

A
$$10000$$

B
$$11000$$

C
$$12000$$

D
$$13000$$

Solution

Let the population be $$P$$.
So, the increased population will be $$P + 1200$$.
The population after $$11\% $$ decrease in population becomes $$P - 32$$.
Therefore,

$${{P}} - 32 = \left( {{{P}} + 1200} \right) - \dfrac{{11}}{{100}}\left( {{{P}} + 1200} \right)$$

$${{P}} = 10000$$

So, the total population is $$10000$$.
Question 7
1 / -0

A teacher buys a colour T.V. for Rs. 11256 at $$8\dfrac { 1 }{ 3 }\%$$ Compound Interest and repays the amount in 3 equal annual installments, at the end of every year. How much should be paid in each installment?

A
Rs. 4100

B
Rs. 4200

C
Rs. 3800

D
Rs. 4394
Question 8
1 / -0

Depreciation is a measure of the wearing out, consumption or other loss of value of a depreciable asset arising from -
I. Use
II. Effluxion of time
III. Obsolescence through technology and market changes
Select the correct answer from the options given below

A
I and II.

B
II and III.

C
I and III.

D
Any of the above.

Solution

As per Accounting Standard-6, Depreciation is a measure of the wearing out,consumption or other loss of value of a appreciable asset arising from use, effluxion of time or obsolescence through technology and market changes. Depreciation is a non-cash flow expense for an entity.
Therefore, The correct option is D.
Question 9
1 / -0

Rate of interest is decided by

A
Borrower

B
Lender

C
Bank

D
Both a & b
Question 10
1 / -0

Which of these is not an accepted method of depreciation

A
Straight line method

B
Sinking fund method

C
Written down method

D
Market value

Solution

there are generally four methods of depreciation:-
1. Straight Line method
2. Double-Declining balance method
3. Written down value method
4. Sinking Fund method.
Therefore Market value is not an accepted method of depreciation.

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Basics of Financial Mathematics Test 42

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Basics of Financial Mathematics Test 42

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Question 1

$$4.6$$%

$$4.8$$%

$$5.0$$%

$$5.2$$%

Question 2

$$Rs. 270$$

$$Rs. 500$$

$$Rs. 540$$

$$Rs. 720$$

Solution

Question 3

$$20$$%

$$34.5$$%

$$69$$%

$$30$$%

Question 4

Physical deterioration of a fixed asset

Decline in the market value of an asset

Allocation of the cost of fixed asset over its useful life

A business expense for acquiring asset

Solution

Question 5

1,17,600

1,17,610

17,610

1,17,613

Question 6

$$10000$$

$$11000$$

$$12000$$

$$13000$$

Solution

Question 7

Rs. 4100

Rs. 4200

Rs. 3800

Rs. 4394

Question 8

I and II.

II and III.

I and III.

Any of the above.

Solution

Question 9

Borrower

Lender

Bank

Both a & b

Question 10

Straight line method

Sinking fund method

Written down method

Market value

Solution

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