Practice Test

Q1) Person who takes the money for his use is known as ____________ Show Answer

Q2) The person who provides loan is known as ______ Show Answer

Q3) Simple Interest = ? Show Answer

Q4) In case of compound interest, interest also earns interest Show Answer

Q5) The period of time for which the interest is calculated is called the ____ Show Answer

Q6) If the conversion period is one year, the amount due at the end of n years = ? Show Answer

Q7) If the conversion period is 6 months, the amount due at the end of n years = ? Show Answer

Q8) If the conversion period is 3 months, the amount due at the end of n years = ? Show Answer

Q9) An annuity is ____ Show Answer

Q10) Annuity payable for a fixed number of intervals is called _____ Show Answer

Q11) An annuity whose payments continue till the happening of an event, the date of which cannot be foretold is called __________ Show Answer

Q12) An annuity which continues forever (infinite number of years) is called _____ Show Answer

Q13) If the periodic payments are made at the end of each period, the annuity is called ___ Show Answer

Q14) If the period payments start only afetr a certain specified period it is called ____ Show Answer

Q15) An annuity left unpaid for a certain number of years is called ____ for that no. of years. Show Answer

Q16) If the periodic payments are all equal, the annuity is called level of ____ Show Answer

Q17) _____ of a given sum of money due at the end of a certain period of time is that sum which if invested now at the given rate of interest accumulates to the given sum at the end of the period. Show Answer

Q18) How much interest will be earned on Rs.2000 at 6% simple interest for 2 years ? Show Answer

Q19) Tanishka deposited Rs.50000 in a bank for two years with the interest rate of 5.5% p.a. how much interest would she earn ? Show Answer

Q20) Tanishka deposited Rs.50000 in a bank for two years with the interest rate of 5.5% p.a. What will be the final value of investment ? Show Answer

Q21) Mr. S deposited Rs.100000 in his bank for 2 years at simple interest rate of 6% How much would be the final value of deposit ? Show Answer

Q22) Find the rate of interest if the amount owed after 6 months is Rs.1050 borrowed amount being Rs.1000 Show Answer

Q23) Mr. R invested Rs.70000 in a bank at the rate of 6.5% p.a. simple interest rate, He recieved Rs.85925 after the end of term. Find out the period for which sum was invested by Mr. R Show Answer

Q24) Mr. K deposited some amount in a bank for 7.5 years at the rate of 6% p.a. simple interest,Mr. K received Rs.101500 at the end of the term. Compute initial deposit of Mr. K Show Answer

Q25) A sum of Rs.46875 was lent out at simple interest and at the end of 1 year 8 months the total amount Rs.50000 Find the rate of interest per cent per annum. Show Answer

Q26) What sum of money will produce Rs.28600 as an interest in 3 years and 3 months at 2.5% p.a. simple interest ? Show Answer

Q27) If P=5000, T=1, I=300, R will be ______ Show Answer

Q28) If P=Rs.4500, A=Rs.7200, then simple interest will be ______ Show Answer

Q29) P=Rs.10000, I=Rs.2500, R=12.5% simple interest. The no. of years T will be ____ Show Answer

Q30) The sum required to earn a monthly interest of Rs.1200 at 18% p.a. simple interest is __ Show Answer

Q31) A sum of Rs.1200 becomes Rs.1323 in 2 years at compound interest compounded annually. Find the rate per cent. Show Answer

Q32) Find the compound interest for Rs.1000 for 4 years at 5% p.a. when the interest is compounded annually. Show Answer

Q33) Find the compound interest for Rs.1000 for 4 years at 5% p.a. when the interest is compounded half yearly. Show Answer

Q34) Find the compound interest for Rs.1000 for 4 years at 5% p.a. when the interest is compounded quarterly. Show Answer

Q35) The difference between simple and compound interest on a sum for three years at 5% p.a. is Rs.76.30 Find the sum Show Answer

Q36) If the interest on a certain sum for first year at 5% p.a. compound is Rs.25 then, the total interest at the end of second year will be _____ Show Answer

Q37) The difference between simple and compound interest for one year for Rs.1000 at 10% p.a. is ______ Show Answer

Q38) Mrs. S deposited Rs.100000 in a nationalised bank for 3 years. If the rate of interest is 7% p.a., Calculate the interest that bank has to pay to Mrs. S after 3 years if interest is compounded annually. Show Answer

Q39) Mrs. S deposited Rs.100000 in a nationalised bank for 3 years. If the rate of interest is 7% p.a., interest is compounded annually. Calculate the amount at the end of third year (i.e. Principal + compound interest) Show Answer

Q40) Rs.2000 is invested at annual rate of interest of 10% what is the amount after two years if compounding is done annually ? Show Answer

Q41) Rs.2000 is invested at annual rate of interest of 10% what is the amount after two years if compounding is done semi- annually ? Show Answer

Q42) Rs.2000 is invested at annual rate of interest of 10% what is the amount after two years if compounding is done quarterly ? Show Answer

Q43) Rs.2000 is invested at annual rate of interest of 10% what is the amount after two years if compounding is done monthly ? Show Answer

Q44) Determine the compound amount and compound interest on Rs.1000 at 6% compounded semi-annually for 6 years. Given that (1+i)n=1.42576 for i=3% and n=12. Show Answer

Q45) Compute the compound interest on Rs.4000 for 1&1/2 years at 10% p.a. compounded half yearly. Show Answer

Q46) On what sum will the compound interest at 5% p.a. for 2 years compounded annually be Rs.1640 ? Show Answer

Q47) In what time will Rs.8000 amount to Rs.8820 at 10% p.a. interest compounded half yearly ? Show Answer

Q48) Find the rate per cent per annum if Rs.200000 amount to Rs.231525 in 1&1/2 year interest being compounded half yearly. Show Answer

Q49) A certain sum invested at 4% p.a. compounded semi-annually amounts to Rs.78030 at the end of one year. Find the sum invested at the beginning of year 1. Show Answer

Q50) Rs.16000 invested at 10% p.a. compounded semi-annually amounts to Rs.18522. Find the time period of investment Show Answer

Q51) If P=Rs1000, R=5% p.a., n=4 what is amount and CI is ______ Show Answer

Q52) Rs.100 will become after 20 years at 5% p.a. compound interest amount Show Answer

Q53) The C.I on Rs.4000 for 6 months at 12% p.a. payable quarterly is ______ Show Answer

Q54) Find the amount of annuity of Rs.4000 p.a. for 10 years reckoning compound interest at 10% p.a. Show Answer

Q55) You invest Rs.3000 in a two year investment that pays you 12% p.a. Calculate the future value of the investment. Show Answer

Q56) Find the future value of an annuity of Rs.500 made annually for 7 years at interest rate of 14% compounded annually. Given that (1.14)7 = 2.5023 Show Answer

Q57) Rs.200 is invested at the end of each month in an account paying interest 6% per year compounded monthly. What is the future value of this annuity after 10th payment? Given that (1.005)10 = 1.0511 Show Answer

Q58) Z invests Rs.10000 every year starting from today for next 10 years. Suppose interest rate is 8% p.a. compounded annually, calculate future value of the annuity. Given that (1+0.08)10 = 2.15892500 Show Answer

Q59) Find the present value of Rs.10000 to be required after 5 years if the interest rate be 9%. Given that (1.09)5 = 1.5386 Show Answer

Q60) S borrows Rs.500000 to buy a house. If he pays equal instalment for 20 years and 10% interest on outstanding balance what will be the equal annual instalment ? [P(20, 0.10) = 8.51356] Show Answer

Q61) Rs.5000 is paid every year for 10years to pay off a loan. What is the loan amount if ineterest rate be 14%p.a. compounded annually ? [P(10,0.14)5.21611] Show Answer

Q62) Y brought a CD player costinng Rs.13000 by making a down payment of Rs.3000 and agreeing to make equal annual payment for 4 years. How much would be each payment if the interest on unpaid amount be 14% compounded annually? [P(4,0.14)2.91371] Show Answer

Q63) The present value of an annuity of Rs.3000 for 15 years at 4.5% p.a. CI is ____ Show Answer

Q64) The theory of probability invovles the study of a _____ Show Answer

Q65) Probability theory originated in the middle of the _____ Show Answer

Q66) Initially, probability was a branch of ___ Show Answer

Q67) The terms chance and probability are synonymous. Show Answer

Q68) The mathematical study of randomness is called probability theory. Show Answer

Q69) An experimental is known to be random if the results of the experiment ____ Show Answer

Q70) If P(A) = P(B), then Show Answer

Q71) If an unbiased coin is tossed once, then the two events Head & Tail are ___ Show Answer

Q72) If P(A) = P(B), then the two events A & B are ____ Show Answer

Q73) If for two events A and B,P then two events A and B are . Show Answer

Q74) If P(A/B) = P(A), then _____ Show Answer

Q75) If P(A) = 0, then the event A ____ Show Answer

Q76) If P(A) = 1, then the event A is known as _______ Show Answer

Q77) P(B/A) is defined only when _____ Show Answer

Q78) P(A/B') is defined only when _____ Show Answer

Q79) If P(A) = 5/9, then the odds against the event A is _____ Show Answer

Q80) If A, B and C are mutually exclusive and exhaustive events, then P(A) + P(B) + P(C) equals to _______ Show Answer

Q81) A bag contains 15 one rupee coins, 25 two rupee coins and 10 five rupee coins. If a coin is selected at random from the bag, then the probability of not selecting a one rupee coin is ____ Show Answer

Q82) A,B and C are threee mutually independent with probabilities 0.3,0.2 and 0.4 respectively Show Answer

Q83) If a card is drawn at random from a pack of 52 cards, what is the chance of getting a spade or an ace ? Show Answer

Q84) If x and y are random variables having expected values as 4.5 and 2.5 respectively, then the expected value of (x-y) is _____ Show Answer

Q85) Two balls are drawn from a bag containing 5 white and 7 black balls at random. What is the probability that they would be of different colours ? Show Answer

Q86) What is the chance of throwing at least 7 in a single cast with 2 dice ? Show Answer

Q87) There are 10 balls numbered from 1 to 10 in a box. If one of them is selected at random, what is the probability that the number printed on the ball would be an odd number greater that 4 ? Show Answer

Q88) A,B and C are the mutually exclusive and exhaustive events such that P(A)=2P(B)=3P(C). What is P(B) ? Show Answer

Q89) A bag contains 12 balls which are numbered from 1 to 12. If a ball is selected at random, what is the probability that the number of the ball will be a multiple of 5 or 6 ? Show Answer

Q90) Given that for two events A and B, P(A) = 3/5, P(B) = 2/3 and P(A) = 3/4, what is P(A/B) ? Show Answer

Q91) For two independent events A and B, what is P(A+B), given P(A) = 3/5 and P(B) = 2/3 ? Show Answer

Q92) It is given that a family of 2 childern has a girl, what is the probability that the other child is also a girl ? Show Answer

Q93) Two coins are tossed simultaneously. What is the probability that the second coin would show a tail given that the first coin has shown a head ? Show Answer

Q94) If an unbiased coin is tossed three times, what is the probability of getting more that one head ? Show Answer

Q95) A number is selected at random from the first 1000 natural numbers. What is the probability that the number so selected would be a multiple of 7 or 11 ? Show Answer

Q96) A bag contains 8 red and 5 white balls. Two successive draws of 3 balls are made without replacement. The probability that the first draw will produce 3 white balls and the second 3 red balls is ______ Show Answer

Q97) 8 identical balls are placed at random in three bags. What is the probability that the first bag will contain 3 balls ? Show Answer

Q98) Four digits 1,2,4 and 6 are selected at random to form a four digit number. What is the probability that the number so formed, would be divisible by 4 ? Show Answer

Q99) A bag contains 6 white and 4 red balls. If a person draws 2 balls and receives Rs.10 and Rs.20 for a white and red balls respectively, then his expected amount is _______ Show Answer

Q100) A card is drawn from a well shuffled pack of playing cards. The probability that it is a spade is ______ Show Answer