Basics of Financial Mathematics Test 43

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Basics of Financial Mathematics Test 43

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Weekly Quiz Competition

Question 1
1 / -0

The SI on a sum of money for 3 years is Rs. $$240$$ and the CI on the sum at same rate for $$2$$ years is Rs. $$170$$. The rate % p.a. is:

A
$$16 \%$$

B
$$12 \displaystyle \frac{1}{2} \%$$

C
$$8 \%$$

D
$$8 \displaystyle \frac{1}{3} \%$$
Question 2
1 / -0

Conversion period is

A
The time for which loan is given

B
The time for which interest is calculated

C
Period of conversion of simple interest into compound interest

D
None of the above

Solution
Question 3
1 / -0

Interest rate per conversion period is calculated by

A
Rate of interest

B
Conversion period/annual interest rate

C
Annual interest rate/conversion period

D
None of the above

Solution
Question 4
1 / -0

How many years will it take to pay of a Rs.$$11,000$$ loan with a Rs.$$1241.08$$ annual payment and a $$5\%$$ interest rate?

A
$$6$$ years

B
$$12$$ years

C
$$24$$ years

D
$$48$$ years

Solution
Question 5
1 / -0

Which one of the following terms refer to the risk arises for bond owners from fluctuating interest rates?

A
Fluctuation Risk

B
Interest rate Risk

C
Real-Time Risk

D
Inflation Risk
Question 6
1 / -0

If you plan to save Rs.$$5,000$$ with a bank an interest rate of $$8\%$$ what will be the worth of your amount after $$4$$ years if interest is compounded annually?

A
$$Rs.5,400$$

B
$$Rs.5,900$$

C
$$Rs.6,600$$

D
$$Rs.6,802$$

Solution
Question 7
1 / -0

The allocation of the cost of a tangible plant asset to expense in the periods, in which services are received from the asset, is termed as _______.

A
Appreciation

B
Depreciation

C
Fluctuation

D
None of these

Solution

The allocation of the cost of a tangible plant asset to expense in the periods, in which services are received from the asset, is termed as Depreciation. Depreciation is any method of allocating such net cost to those periods in which the organization is expected to benefit from use of the asset.
Hence, the correct option is B.
Question 8
1 / -0

You need Rs.$$10,000$$ to buy a new television. If you have Rs.$$6,000$$ to invest at $$5$$ percent compounded annually, how long will you have to wait to buy the telivisions?

A
$$8.42$$ years

B
$$10.5$$ years

C
$$15.71$$ years

D
$$18.78$$ years

Solution
Question 9
1 / -0

Compound interest is

A
The interest on principle amount

B
The interest on previously accumulated interest as well as interest on principle amount

C
The interest on principle for number of years

D
All of the above
Question 10
1 / -0

Read the following statement carefully and select the correct option
statement - i : An article marked at rs 800 is sold at successive discount of 15% and 25%. If the buyer desires to sell. it off at a profit of 20% after allowing a 10% discount, then his marked price will be rs 680.
Statement- ii; if the amount of Rs p at 10% per annum for 3 year compounded annually becomes rs q, then q ; p is 125 ; 216.

A
Both statement- i and statement- ii are false

B
Both statement- i and statement- ii are true

C
Both statement- 1 is true but statement- 11 are false

D
statement - 1 is false but statement -11 is true