Tag: business mathematics and statistics
Questions Related to business mathematics and statistics
A man borrowed some money and returned it in $3$ equal quarterly installments of Rs $4630.50$ each. Find the interest charged (in Rs) on the sum he borrowed, if the rate of interest was $20\%$ p.a. compounded quarterly?
Find the amount of an annuity due of Rs $500$ per quarter for $8$ years and $9$ months at $6\%$ compounded quarterly.
Three equal instalments each of $Rs 200$ were paid at the end of the year for the sum borrowed at $20 \%$ interest compounded annually. Find the sum.
Process of loan repayment by installment payments is classified as
Find the present value (in Rs) of a sequence of annual payments of Rs $10000$ each, the first being made at the end of $5^{th}$ year and the last being made at the end of $12^{th}$ year, if money is worth $6\%$.
A sum of Rs $2500$ is invested at a rate of $5 \%$ per annum for a term of $5$ years. Find the simple interest received at the end of the term.
A $5-$year ordinary annuity has a present value of $\$1,000$. If the interest rate is $8$ percent, the amount of each annuity payment is closest to which of the following?
A man borrows $Rs \ 1820$ and undertakes to payback with a compound interest of $20 \%$ per annum in a $3$ equal yearly installments at the end of first year, second year and third year. Find the amount of each installments
Mr. Gupta has been accumulating a fund at $8\%$ effective, which will provide him with an annual income of Rs $30000$ for $15$ years, the first payment being paid on his $60^{th}$ birthday. If he wishes to reduce the number of payments to $10$, find how much annual income (in Rs) will he receive?