Tag: mathematics and statistics

Quizzes (38) Questions (955)

Questions Related to mathematics and statistics

Multiple choice mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

A company pays a dividend of 15% on its ten-rupee shares from which it deducts income tax at the rate of 22%. Find the annual income of a man who owns one thousand shares of this company.

  1. 1170

  2. 1270

  3. 1070

  4. 1330
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
Annual Income $=Rs.\ \dfrac{(10×1000×15)}{100}$
$=Rs.\ 1500$
Income tax deducted $= \dfrac{(22×1500)}{100}$
$=Rs.\ 330$
So, Total Income$=Rs.\ 1500 - 330$
$= Rs.\ 1170 .$
Multiple choice mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

You invested Rs. $1500$ and received Rs. $5000$ after three years. What had been the interest rate?

  1. $111.11\%$
  2. $222.22\%$
  3. $333.33\%$
  4. $77.77\%$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Amount invested $= 1500$

Amount received after three years $= 5000$

$\Rightarrow$ Interest earned $= 5000-1500 = 3500$
Let interest rate$\%$ be $r$
$\Rightarrow$ $3500 = \dfrac{1500 \times 3 \times r}{100}$
$\Rightarrow$ $r = 77.77\%$

Multiple choice mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

You borrow Rs. $4,000$ from a loan shark. If you owe Rs. $7,200$ in $4$ years, what would be the simple interest rate?

  1. $10\%$
  2. $20\%$
  3. $30\%$
  4. $40\%$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Given:
Principal $=$ Rs. $ 4,000$
Interest $= 7200 - 4000 = 3200$
We know the formula,
Rate of interest, $R =$ $\dfrac{I\times 100}{PT}$
$\Rightarrow R =$ $\dfrac{3200\times 100}{4000\times 4}$
$\Rightarrow R = 20\%$

Thus, the simple interest rate is $20\%$.

Multiple choice mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

John earned Rs. $100$ as simple interest on Rs. $600$ for $6$ months. Find the annual rate of interest.

  1. $11.11\%$
  2. $22.22\%$
  3. $33.33\%$
  4. $44.44\%$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation
Given, Simple interest $=$ Rs. $100$, Principal $=$ Rs. $600$ and period $6$ months
We know the formula,
Rate of interest, $R =$ $\dfrac{I\times 100}{PT}$
$R =$ $\dfrac{100\times 100}{600\times 0.5}$
$R = 33.33\%$
Therefore, the annual rate of interest is $33.33\%$.
Multiple choice mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

Sharmila got a Rs. $1300$ loan for $5$ years. She paid Rs. $100$ in interest. What was the interest rate?

  1. $1.1\%$
  2. $1.3\%$
  3. $1.5\%$
  4. $1.7\%$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation
Given, principal $=$ Rs. $1300$, Interest $=$ Rs. $100$, period $=5$ years
We know the formula,
Rate of interest, $R =$ $\dfrac{I\times 100}{PT}$
$\Rightarrow R =$ $\dfrac{100\times 100}{1300\times 5}$
$\Rightarrow R = 1.5\%$
Therefore, the interest rate is $1.5\%$.
Multiple choice mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

Find rate, when principal $=$ Rs. $3000$; interest $=$ Rs. $400$; time $= 3$ years.

  1. $1.11\%$
  2. $2.22\%$
  3. $3.33\%$
  4. $4.44\%$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Given, Principal $=$ Rs. $3000$, interest $=$ Rs. $400$, time $=3$ years
We know the formula,
Rate of interest, $R =$ $\dfrac{I\times 100}{PT}$
$R =$ $\dfrac{400\times 100}{3000\times 3}$
$R = 4.44\%$

Multiple choice mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

Oscar earned Rs. $2400$ as simple interest on Rs. `$4500$ for $3$ months. What is the annual rate of interest?

  1. $16.66\%$
  2. $17.77\%$
  3. $18.88\%$
  4. $19.99\%$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation
Given, principal $=4500$, Interest $=$ Rs. $2400$, period $=3$ months
We know the formula,
Rate of interest, $R =$ $\dfrac{I\times 100}{PT}$
$\Rightarrow R =$ $\dfrac{2400\times 100}{4500\times 3}$
$\Rightarrow R = 17.77\%$
Therefore, the annual rate of interest is $17.77\%$.
Multiple choice mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

To start a grocery shop, a woman borrowed Rs. $1,500$. If the loan was for four years and the amount of interest was Rs. $150$, what simple interest rate was she charged?

  1. $1.5\%$
  2. $2.5\%$
  3. $3.5\%$
  4. $4.5\%$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation
Given, principal $=$ Rs. $1500$, Interest $=$ Rs. $150$, period $=4$ years
We know the formula,
Rate of interest, $R =$ $\dfrac{I\times 100}{PT}$
$\Rightarrow R =$ $\dfrac{150\times 100}{1500\times 4}$
$\Rightarrow R = 2.5\%$
Therefore, the simple interest is $2.5\%$.
Multiple choice mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

Mr. Joshua borrowed Rs. $5000$ for $2$ years to make home improvements. If he repaid a total of Rs. $15,000$, at what interest rate did he borrow the money?

  1. $15\%$
  2. $25\%$
  3. $35\%$
  4. $45\%$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Given:
Principal $= 5,000$
Interest $= 15000 - 5000 = 10000$
We know the formula,
Rate of interest, $R =$ $\dfrac{I\times 100}{PT}$
$\Rightarrow R =$ $\dfrac{5000\times 100}{10000\times 2}$
$\Rightarrow R = 25\%$