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Welcome to ICOME Quiz Corner

Q1. In S.I principal will remain same for each and every year.

(a) False (b) True (c) Can't say

Solution.
(b) True
Solution

Q2. The S.I on a sum of money is 1/16 of the principal, and number of years is equal to rate percent per annum . find the rate percent.

(a) 2.5% (b) 3% (c) 4% (d) 4.5%

Solution.
P/ 16
=
P x t2/ 100


t2 =
100/ 16


t =
10/ 4


r = t = 2.5
Solution

Q3. At a certain rate of S.I Rs.800 amounts to Rs.920 in 3 years. If the rate of interest be increased by 4% what will be amount after 2 years.

(a) Rs.1400 (b) Rs.800 (c) Rs.944 (d) Rs.1000

Solution.
S.I =
Pnr/ 100


120 =
800 x 3 x r/ 100
r = 5%

New rate 5 + 4 = 9%

New rate =
800 x 2 x 9/ 100
= 144

Amount = P + SI = 800 + 144 = 944
Solution

Q4. In the case of annuity due payment is made at the end of the period.

(a) True (b) False (c) Can't say

Solution.
(b) False
Solution

Q5. A principal of Rs.4000 is lent out two parts in such a way that the interest on one part at 10% for 4years is equal to that on another part at 8% for 5 years . find the two sums.

(a) 2000 each (b) 1000,2000 (c) 3k,k (d) 2.5k,1.5k

Solution.
(a) 2000 each

S1 : S2 =
1 / r1 t1
:
1 / r2 t2


S1 : S2 =
1/ 40
:
1/ 40


S1 : S2 = 1 : 1
Solution

Q6. Cost price of 12 articles is equal to the selling price of 10 articles. find the profit percent.

(a) 5% (b) 10% (c) 20% (d) 30%

Solution.
Profit % =
x - y/ y
x 100%

=
12 - 10 / 10
x 100

=
200/ 10


= 20%
Solution

Q7. The S.I on a certain sum of money at 4% per annum for 6years is Rs.90 more than the interest on the same sum for 5 years at 5% per annum . find the sum.

(a) 9k (b) 10k (c) 11k (d) 12k

Solution.
Sum =
Difference in interest x 100/ r1 t1 - r2 t2


=
90 x 100/ 25 - 24


= 9000
Solution

Q8. Rs.200 is invested at the end of each month if interest rate is 6% per annum compounded monthly. find the future value of the annuity after 10 month.
(1 + 0.005)10 = 1.0511

(a) 2400 (b) 1800 (c) 2044 (d) 1000

Solution.
(c) 2044
Solution

Q9. Find a single discount which is equivalent to two discounts of 10% and 20% .

(a) 30% (b) 21% (c) 15% (d) 28%

Solution.
[r1 + r2 - (r1.r2)/100]%

[10 + 20 - (10 x 20)/100]%

= [30 - 200/100]%

= 28%
Solution

Q10. A person sells an article at a profit of 10%. If he had bought it at 10% less and sold it for Rs.25 more, he would have gained 25% . find the CP.

(a) Rs. 900 (b) Rs. 1800 (c) Rs. 1000 (d) Rs. 4800

Solution.
(c) Rs. 1000
Solution