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- Question
Find the effective rate of interest for an investment that earns 5 1/2% per year, compounded continuously
Options- A. 5.65%
- B. 5.75%
- C. 5.85%
- D. 5.95%
- Correct Answer
- 5.65%
ExplanationWe are not given a value of P in this problem, so either pick a value
for P and stick with that throughout the problem, or just let P = P.
We have that t = 1, and r = .055. To find the effective rate of interest,
first find out how much money we have after one year:
A = Pert
A = Pe(.055)(1)
A = 1.056541P.
Therefore, after 1 year, whatever the principal was, we now have 1.056541P.
Next, find out how much interest was earned, I, by subtracting the initial amount of money from the final amount:
I = A ? P
= 1.056541P ? P
= .056541P.
Finally, to find the effective rate of interest, use the simple interest formula, I = Prt. So,
I = Pr(1) = .056541P
.056541 = r.
Therefore, the effective rate of interest is 5.65%
- 1. 0.0169 / 0.013=?
Options- A. .13
- B. .013
- C. 1.3
- D. 13 Discuss
- 2. Two posts are x meter apart and the height of one is double that of the other. If from the midpoint of the line joining their feet, an observer finds the angular elevations of their tops to be complementary, then the height (in meter) of the shorter post is :
Options- A. x 2 ?2
- B. x 4
- C. x ?2
- D. x ?2 Discuss
- 3. If p/q =4/5, then the value of 4/7 + {(2q - p) / (2q + p)} is?
Options- A. 3 / 7
- B. 34
- C. 1
- D. 2 Discuss
- 4. What is 25% of 25% is equal to?
Options- A. 6.25
- B. .625
- C. .0625
- D. .000625 Discuss
- 5. The number .05 is hoe many percent of 20?
Options- A. 25
- B. .025
- C. .25
- D. 2.5 Discuss
- 6. Find the lowest common multiple of 24, 36 and 40.
Options- A. 120
- B. 240
- C. 360
- D. 480 Discuss
- 7. 8 1/ 3% expressed as a fraction is?
Options- A. 25/3
- B. 3/25
- C. 1/12
- D. 1/4 Discuss
- 8. .025 in terms of term of rate per cent is?
Options- A. .25%
- B. 2.5%
- C. 0.25%
- D. 371/2% Discuss
- 9. What percentage of 2/7 is 1/35?
Options- A. 2.5%
- B. 10%
- C. 25%
- D. 20% Discuss
- 10. A sum of ? 4000 is lent out in two parts, one at 8% simple interest and other at 10% simple interest. If the annual interest is ? 352, the sum lent at 8% is
Options- A. ? 1600
- B. ? 2400
- C. ? 1800
- D. ? 2800 Discuss
More questions
Correct Answer: 1.3
Explanation:
0.0169 / 0.0130 = 169 / 130
= 13 / 10
Correct Answer: x 2 ?2
Explanation:
Correct Answer: 1
Explanation:
Given Exp. = 4 / 7 + {(2q - p) / (2q + p)}
Dividing numerator as well as denominator by q,
Exp = 4/7 + {2-p/q) / (2 + p/q)}
= 4/7 + {(2 - 4/5) / (2 + 4/5)}
= 4/7 + 6/14
= 4/7 + 3/7
=7/7
=1.
Correct Answer: .0625
Explanation:
25% of 25% = (25/100) x (25/100) = 625/10000 = 0.625
Correct Answer: .25
Explanation:
Let y% of 20 = .05
Then, (y x 20)/100 = .05
? y = .25
Correct Answer: 360
Explanation:
2 | 24 - 36 - 40 -------------------- 2 | 12 - 18 - 20 -------------------- 2 | 6 - 9 - 10 ------------------- 3 | 3 - 9 - 5 ------------------- | 1 - 3 - 5 L.C.M. = 2 x 2 x 2 x 3 x 3 x 5 = 360.
Correct Answer: 1/12
Explanation:
81/3% = (25/3 x 1/100) = 1/12
Correct Answer: 2.5%
Explanation:
.025 = (25/1000) x 100% = 2.5%
Correct Answer: 10%
Explanation:
Let N% of 2/7 is 1/35
? (2/7 x N) / 100 = 1/35
? N = 1/35 x 7/2 x 100 = 10%
Correct Answer: ? 2400
Explanation:
Let the money interest at 8% interest be ? P .
Then, the money interest at 10% interest = ?(4000 - P)
According to the question,
(P x 8 x 1)/100 + [(4000 - P) x 10 x 1]/100 = 352
? 8P + 40000 - 10P = 35200
? 40000 - 35200 = 2P
? P = 4800/2 = ? 2400
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