Comparing Quantities Quiz

What sum of money lent at 4% per annum under simple interest will yield the same interest in 5 years as 4500 yields in 8 years at the rate of 5% per annum under simple interest?

1. $9500
2. $9000
3. $10000
4. $11000

Answer: (b) $9000

A sum of money was borrowed at 8% per annum in simple interest. At the end of the first year, $9000 was paid off and the rate of interest on the balance was reduced to 6% per annum. If the interest for the second year was of the interest for the first year, what was the original sum borrowed?

1. $19000
2. $19570
3. $18750
4. $18840

Answer: (c) $18750

A person borrowed $10,000 at 3% per annum under simple interest. The sum borrowed is immediately given to another person at the same rate on the condition that the interest is compounded semi-annually. Find the amount gained by the first person in one year.

1. $3.00
2. $2.50
3. $2.00
4. $2.25

Answer: (d) $2.25

Mia's geography test had 80 questions in total. 40 questions on physical geography, 20 questions on human geography and 20 questions on world geography. He answered 65% of the physical geography, 45% of the human geography and 55% of the world geography questions correctly. How many more correct answers would Mia need in human geography to pass the test with 65% overall?

1. 5
2. 10
3. 15
4. 6

Answer: (d) 6

A trader sells three articles, A, B, and C. The cost price of A is equal to the selling price of B. A is sold at a 30% profit, while the cost price of B is 20% less than its selling price. The cost price of C is 80% of B 's selling price and it is sold at a 10% loss. Find the overall profit or loss percentage made by the trader, assuming the cost price of A is $1,000 and the selling price of each article is equal to its market price.

1. 16.15%
2. 12.45%
3. 12.22%
4. 15.16%

Answer: (a) 16.15%

The simple interest and compound interest on a certain sum for 2 years are $800 and $840, respectively. The rate of interest on both sums is the same. If the interest on the sum lent at compound interest is compounded annually, find the rate of interest.

1. 10%
2. 4.50%
3. 4%
4. 5%

Answer: (d) 5%

The governor has two sons. Their ages are 10 years and 8 years. He plans to invest a total of 1.22 million in the names of the two sons at 20% per annum compound interest. Those sums had to be such that when the sons attained the age of 18 years, they would receive equal amounts. How much does he plan to invest in the name of his older son?

1. 0.68 million
2. 0.72 million
3. 0.50 million
4. 0.20 million

Answer: (b) 0.72 million

Read the passage and answer the following question: In a bustling market, the manager of a store is trying to understand the sales performance of various products over the past month. The store sells different categories of items, including electronics, clothing, and groceries. Each category has had varying levels of sales increases and decreases, and the manager is keen to analyze these trends to make informed decisions for the future. For instance, the store sold 120 smartphones last month, which was a 20% increase from the previous month. Similarly, the clothing section saw a decline, with sales dropping by 15% from 200 items to a certain number. On the other hand, grocery sales increased by 25% from a previous total of 400 items. The manager is also considering a new promotional offer a 10% discount on all electronics. The previous month's total sales for electronics was 10,000. How much total revenue will be generated from electronics sales after a 10% discount, given the previous month's sales were 10,000?

1. 5000
2. 9500
3. 9000
4. 10000

Answer: (c) 9000

Read the passage and answer the following question: In a bustling market, the manager of a store is trying to understand the sales performance of various products over the past month. The store sells different categories of items, including electronics, clothing, and groceries. Each category has had varying levels of sales increases and decreases, and the manager is keen to analyze these trends to make informed decisions for the future. For instance, the store sold 120 smartphones last month, which was a 20% increase from the previous month. Similarly, the clothing section saw a decline, with sales dropping by 15% from 200 items to a certain number. On the other hand, grocery sales increased by 25% from a previous total of 400 items. The manager is also considering a new promotional offer a 10% discount on all electronics. The previous month's total sales for electronics was 10,000. A promotional campaign increased the grocery sales by 25%, resulting in sales of 500 items. If the campaign were to increase sales by an additional 10%, how many items would be sold in total?

1. $550
2. $200
3. $500
4. $350

Answer: (a) $550

Read the following and answer the following question: In the finance department of a large company, the team is analyzing the growth of their investments over time. The company has several investment accounts, each with different compound interest rates and compounding frequencies. The investment decisions are crucial for planning future budgets and expansions. First account with an initial principal of $5,000 compounds annually at an interest rate of 6%. Second investment, starting with $8,000, compounds semi-annually at 5% interest. Additionally, a third account with a principal of $10,000 compounded quarterly at 4% interest. The team is also reviewing the impact of different compounding periods and interest rates on the final amount accumulated over time. The company is considering a new investment option where the interest is compounded monthly. Find the amount accumulated after 1 and half years for an investment of $10,000, compounded semi anually at an interest rate of 4%.

1. $10612.1
2. $12731.8
3. $15456.7
4. $5672.1

Answer: (a) $10612.1