If there is a total of 104 weekly instalments and a third deposit, find the inte

CuriousTab

CuriousTab

Home Aptitude

Discussion

Home ‣ Aptitude ‣ Simple Interest Comments

Question
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

Correct Answer

4.82

Explanation

R = (100 x I)/( P x T)

Tags:

Simple Interest problems

Search Results

1. 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

2. 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

3. 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

4. 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

5. 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

6. 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

7. 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

8. You deposit $600 into a 6 month certificate of deposit. After 6 months the balance is $618. Find the simple annual interest rate.
Options
A. 5%
B. 4%
C. 6%
D. 7%

9. Rondell's parents borrow $6,300 from the bank for a new car. The interest rate is 6% per year. How much simple interest will they pay if they take 2 years to repay the loan?
Options
A. 556
B. 665
C. 756
D. 856

10. Derrick's dad bought new tires for $900 using a credit card. His card has an interest rate of 19%. If he has no other charges on his card and does not pay off his balance at the end of the month, how much money will he owe after one month?
Options
A. 11.25
B. 13.25
C. 14.25
D. 15.25

Comments

More in Aptitude: