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- Question
An investment bond is offered to the public at 9% p.a. Louise buys a bond worth $2000 that will mature in 2 years. How much in total will Louise receive at the end of the 2 years?
Options- A. 3360
- B. 2360
- C. 4360
- D. 5360
- Correct Answer
- 2360
ExplanationI = (P x r x t)/100
I = $360
A = P+I
A = 2360
- 1. Townbank offers a term deposit account paying investors 12.5% p.a. simple interest on investments over $100 000 for 2 years or more. Peta decides to invest $150 000 in this account for 2 years. How much interest will Peta earn at the end of the investment?
Options- A. 57500
- B. 47500
- C. 37500
- D. 67500 Discuss
- 2. Jaclyn buys $50 000 worth of debentures in a company. She earns 9.5% p.a. simple interest, paid to her quarterly (that is, every 3 months). If the agreed period of the debenture was 18 months: calculate the amount of interest Jaclyn will earn for each quarter
Options- A. 1187.50
- B. 1234
- C. 1289
- D. 1345 Discuss
- 3. An amount of $255 was invested at 8.5% p.a. How long will it take, to the nearest year, to earn $86.70 in interest?
Options- A. 2years
- B. 3years
- C. 4years
- D. 5years Discuss
- 4. A bank offers 9% p.a. simple interest on an investment. At the end of 4 years the interest earned was $215. How much was invested?
Options- A. 597.22
- B. 345
- C. 456
- D. 378 Discuss
- 5. Simple interest on a sum for 5 years is equal to 20% of the principal. In how many years interest will be equal to the principal?
Options- A. 20
- B. 25
- C. 15
- D. 16 Discuss
- 6. A sapphire ring with a marked price of $1800 is offered to the purchaser on the following terms: $200 deposit and the balance to be paid over 24 equal monthly instalments with interest charged at 11.5% p.a. flat rate. Find the monthly repayments
Options- A. $53
- B. $42
- C. $62
- D. $82 Discuss
- 7. If there is a total of 104 weekly instalments and a thirddeposit, find the interest charged
Options- A. 237.55
- B. 337
- C. 443
- D. 334 Discuss
- 8. If there is a total of 104 weekly instalments and a third deposit, find the interest rate
Options- A. 2.82
- B. 3.82
- C. 4.82
- D. 5.82 Discuss
- 9. If there is a total of 104 weekly instalments and a third deposit, find: the total cost of the computer
Options- A. 3932.55
- B. 4932
- C. 5932
- D. 6932 Discuss
- 10. Determine the exact and ordinary simple interest on a 90-day loan of $8000 at 812 %
Options- A. 150$
- B. $160
- C. $170
- D. $180 Discuss
Simple Interest problems
Search Results
Correct Answer: 37500
Explanation:
I = (p x t x r)/100
Correct Answer: 1187.50
Explanation:
I=(p x r x t)/100
Correct Answer: 4years
Explanation:
T = (100 x I)/ (P x r)
Correct Answer: 597.22
Explanation:
I = (p x r x t)/100
Correct Answer: 25
Correct Answer: $82
Explanation:
Total repayment amount = $1600 + $368
= $1968
= $82
regular payment= total amount/number of repayments
Correct Answer: 237.55
Explanation:
Cash price = $3695
Deposit =1/3 of $3695 = $1231.67
Loan amount = $3695.00 ? $1231.67 = $2463.33
Total cost of loan = $25.97 × 104= $2700.88
Interest charged = total amount ? loan
I = A ? P
= 2700.88 ? 2463.33
= 237.55
Correct Answer: 4.82
Explanation:
R = (100 x I)/( P x T)
Correct Answer: 3932.55
Explanation:
Total cost = deposit + loan + interest
= 1231.67 + 2463.33 + 237.55
= $3932.55
Correct Answer: $170
Explanation:
Exact interest, I= prt = $8000 × 0.085 × 90/365 = 167.67
Ordinary Interest, I= Prt = $8000 x 0.085 x 90/360 = 170
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