Simple and compound interest
Quiz by Arvin Gara
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10 questions
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- Q1If you invest 2,000 pesos in a savings account with an annual simple interest rate of 5% for 3 years, how much total interest will you earn?300 pesos100 pesos150 pesos200 pesos30s
- Q2What will be the total amount in an account after 2 years if 5,000 pesos are deposited at an annual compound interest rate of 6%, compounded annually?5,612 pesos5,450 pesos5,600 pesos5,550 pesos30s
- Q3If you borrow 10,000 pesos at an annual simple interest rate of 4% for 5 years, what will be the total amount you need to repay after this period?12,000 pesos11,000 pesos11,500 pesos13,000 pesos30s
- Q4A principal of 8,000 pesos is invested in a fund that offers a compound interest rate of 3% per annum, compounded yearly. What will be the total amount in the fund after 4 years?9,050.00 pesos9,200.00 pesos8,960.00 pesos8,994.17 pesos30s
- Q5How much interest will be earned on 15,000 pesos after 6 years when invested at an annual simple interest rate of 7%?5,250 pesos6,300 pesos7,500 pesos4,200 pesos30s
- Q6What will be the future value of 12,000 pesos invested for 3 years at an annual compound interest rate of 5%, compounded annually?13,500 pesos14,000 pesos13,890 pesos13,200 pesos30s
- Q7You deposited 7,500 pesos in a savings account with an annual compound interest rate of 4%, compounded yearly. How much will you have in the account after 5 years?9,000.00 pesos9,131.06 pesos8,750.00 pesos9,500.00 pesos30s
- Q8If you borrow 20,000 pesos at a simple interest rate of 8% per annum for 4 years, what will be the total amount to be repaid at the end of the term?27,500 pesos26,000 pesos25,600 pesos24,000 pesos30s
- Q9What is the total interest earned on an investment of 5,000 pesos at an annual compound interest rate of 10% compounded annually after 3 years?1,655 pesos1,500 pesos1,550 pesos1,600 pesos30s
- Q10How much will you have if you invest 9,000 pesos at a simple interest rate of 5% per year for 6 years?10,500 pesos11,700 pesos12,000 pesos11,400 pesos30s