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- Question
An amount of 5,000 is invested at a fixed rate of 8 per cent per annum. What amount will be the value of the investment in five years time, if the interest is compounded every six months?
Options- A. 7401.22
- B. 3456
- C. 4567
- D. 7890
- Correct Answer
- 7401.22
ExplanationWith slight modifications, the basic formula can be made to deal with compounding at intervals other than annually.
Since the compounding is done at six-monthly intervals, 4 per cent (half of 8 per cent) will be added to the value on each occasion.
Hence we use r = 0.04. Further, there will be ten additions of interest during the five years, and so n = 10. The formula now gives:
V = P(1 + r)10 = 5,000 x (1.04)10 = 7,401.22
Thus the value in this instance will be £7,401.22.
In a case such as this, the 8 per cent is called a nominal annual
rate, and we are actually referring to 4 per cent per six months.
- 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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