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Business Math Test 2 I. COM 1

The document is a business math examination consisting of multiple-choice questions and problem-solving questions related to simple and compound interest. It includes calculations for interest on various principal amounts, rates, and time periods. The total marks for the exam are 30, with specific instructions for each question.

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waseemhasan85
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32 views1 page

Business Math Test 2 I. COM 1

The document is a business math examination consisting of multiple-choice questions and problem-solving questions related to simple and compound interest. It includes calculations for interest on various principal amounts, rates, and time periods. The total marks for the exam are 30, with specific instructions for each question.

Uploaded by

waseemhasan85
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Subject: Business Math - I Total Marks : 30

QNo#1 Encircle the correct option. Each carries equal marks. (06)
i. What is the simple interest on a principal amount of $1000, rate of interest 5% per annum, and
time 2 years?
A. $100 C. $200
B. $150 D. $250
ii. A person borrows $500 at a rate of 10% per annum simple interest. How much will he pay after 5
years?
A. $750 C. $850
B. $800 D. $900
iii. What is the compound interest on a principal amount of $2000, rate of interest 10% per annum,
and time 2 years?
A. $420 C. $460
B. $440 D) $480
iv. A person deposits $1000 in a bank at a rate of 5% per annum compound interest. How much will
he get after 3 years?
A) $1157.63 C) $1167.19
B) $1162.50 D) $1171.67
v. Which type of interest yields more interest over time?
A) Simple Interest C) Both are equal
B) Compound Interest D) Depends on the principal amount
vi. What is the main difference between simple interest and compound interest?
A) Rate of interest C) Principal amount
B) Time period D) Interest is compounded on interest
Q.no 1: Attempt all the question (6 × 3=18)
I. Find the amount of simple interest on Rs 5000 for 3 years at the rate of 4% per annum.
II. At what rate Rs 250 double itself in 5 years by simple interest.
III. Find compound amount when Rs 750 is invested for 8 years at 12% p.s.
IV. 25% of an amount is 500 find the amount.
V. Ali got 900 marks out of 1100 marks. Find his percentage of marks.
VI. What is the difference between simple and compound interest.

Q.no 2: How long will it take to earn Rs 15000 simple interest on a deposit of Rs 75000 at the rate of
10% annually? (06)

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