Maths Mcqs Practice Test

Question 1

Rs. 20 is the true discount on Rs. 260 due after a certain time. What will be the true discount on the same sum due after half of the former time, the rate of interest being the same?

Accepted Answer

B. Rs. 10.40

Question 2

The true discount on Rs. 1760 due after a certain time at 12% per annum is Rs. 160. The time after which it is due is:

Accepted Answer

D. 10 months

Question 3

A man buys a watch for Rs. 1950 in cash and sells it for Rs. 2200 at a credit of 1 year. If the rate of interest is 10% per annum, the man:

Accepted Answer

B. gains Rs. 50

Question 4

The true discount on a bill due 9 months hence at 16% per annum is Rs. 189. The amount of the bill is:

Accepted Answer

B. Rs. 1764

Question 5

If Rs. 10 be allowed as true discount on a bill of Rs. 110 due at the end of a certain time, then the discount allowed on the same sum due at the end of double the time is:

Accepted Answer

D. Rs. 18.33

Question 6

A man wants to sell his scooter. There are two offers, one at Rs. 12,000 cash and the other a credit of Rs. 12,880 to be paid after 8 months, money being at 18% per annum. Which is the better offer?

Accepted Answer

A. Rs. 12,000 in cash

Question 7

A trader owes a merchant Rs. 10,028 due 1 year hence. The trader wants to settle the account after 3 months. If the rate of interest 12% per annum, how much cash should he pay?

Accepted Answer

B. Rs. 9200

Question 8

The true discount on Rs. 2562 due 4 months hence is Rs. 122. The rate percent is:_________?

Accepted Answer

C. 15%

Question 9

A man purchased a cow for Rs. 3000 and sold it the same day for Rs. 3600, allowing the buyer a credit of 2 years. If the rate of interest be 10% per annum, then the man has a gain of:

Accepted Answer

A. 0%

Question 10

Rs. 800 amounts to Rs. 920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to how much ?

Accepted Answer

A. Rs. 992

Question 11

A sum was put a simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, it would have fetched Rs. 60 more. The sum is:

Accepted Answer

A. Rs.750

Question 12

A man invests a certain sum of money at 6% per annum simple interest and another sum at 7% per annum simple interest. His income from interest after 2 years was Rs. 354. One-forth of the first sum is equal to one-fifth of the second sum. The total sum invested was :

Accepted Answer

B. Rs.2700

Question 13

You deposit $600 into a 6 month certificate of deposit. After 6 months the balance is $618. Find the simple annual interest rate

Accepted Answer

A. 6%

Question 14

How long will it take for a sum of money to grow from Rs.1250 to Rs.10,000, if it is invested at 12.5% p.a simple interest?

Accepted Answer

B. 56 years

Question 15

What is the rate of interest at which Rs.150 becomes Rs. 220 in 10 years.

Accepted Answer

B. 14/3%

Question 16

A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is :________?

Accepted Answer

D. Rs. 698

Question 17

A sum was put at simple interest at a certain rate for 3 years. Had it been put at 2% higher rate, it would have fetched Rs 360 more. Find the sum.

Accepted Answer

D. Rs.6000

Question 18

A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:

Accepted Answer

C. 12%

Question 19

A sum of Rs. 2500 amounts to Rs. 3875 in 4 years at the rate of simple interest. What is the rate of interest?

Accepted Answer

D. 13.75%

Question 20

A sum of money becomes 7⁄5 of itself in 4 years at a certain rate of simple interest. The rate per annum is :

Accepted Answer

B. 10%