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Mathematics quiz on Simple Interest and Compound Interest

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Question 1

While teaching a topic based on finding the amount of interest earned, a teacher announced the formula of finding out the interest as I = PRT/100. Which method of teaching mathematics is used by the teacher?

I. Deductive

II. Inductive

Question 2

The simple interest on a sum of money is 8/81 of the principal, and the number of years is equal to rate percent per annum, then find the rate percent?

Question 3

Shweta borrows rupees 6000, from a bank at simple interest. After 4 years he paid rupees 2500 to the bank, and at the end of 5 years from the date of borrowing, he paid rupees 4550 to the bank to settle the account. Find the rate of interest?

Question 4

A sum of rupees, 37500 is left by will by a father to be divided between two sons of 12 and 14 year of age, so that when they attain maturity at 18, the amount (Principal + Interest) received by each at 5% simple interest will be the same. Find the sum allotted at present to each son?

Question 5

A sum of rupees 4320 is lent out in 3 parts in such a way that the interest on the 1st part at 2% for 3 years, second part at 3% for 4 years, and 3rd part at 4% for 5 years are equal. Then find the difference between the largest and the smallest part?

Question 6

The annual payment of rupees 700 in 5 years @ 10% per annum SI will discharge a debt of what amount?

Question 7

Find the simple interest of 2 years of Rs. 4,000 at the rate of 10% per annum

Question 8

The simple interest on a sum of money will be rupees 300 after 4 years. In the next 6 years principal become 6 times, what will be total interest at the end of the 10th year?

Question 9

A sum of money becomes double in 8 years at a rate of simple interest per annum. In how many years it will become 9/4th of itself?

Question 10

A tape recorder is sold for Rs. 3500 cash, or Rs. 1000 cash down payment and the balance in three equal easy installments. If 12.5% is the rate of compound interest
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