GMATH NI PIECKML HAHA

Question 1
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How long will Ᵽ250,000 earn an interest of Ᵽ275 at 0.5% simple interest?

2.2 years

2 years

22 years

0.22 years
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Question 2
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When the total number of conversion periods is 12 and the term is 6 years, then money is
compounded ____________.

Semi-annually
Quarterly

Monthly

Annually
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Question 3
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When invested at an annual interest rate of 2.5%, an amount earned Ᵽ1,500 of simple
interest in four years. How much money was originally invested?

Ᵽ15,010.00

Ᵽ15,000.00

Ᵽ1,500.00

Ᵽ150,000.00
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Question 4
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It is the interest computed on the principal and also on the accumulated past interests.

Simple interest

Simple annuity

Compound interest

General annuity
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Question 5
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Find the amounts of interest and maturity value of a loan for Ᵽ20,000 at 6% compound
interest for 3 years?

Ᵽ46,535.20 ; Ᵽ26,535.20

Ᵽ23,820.32 ; Ᵽ3,820.32

Ᵽ32,587.57 ; Ᵽ12,587.57

Ᵽ24,028.12 ; Ᵽ4,028.12
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Question 6
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When the total number of conversion periods is 24 and the term is 6 years, then money is
compounded ____________.

Annually

Quarterly

Semi-annually

Monthly
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Question 7
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In order to have Ᵽ110,000 in 5 years, how much should you invest if the simple interest is
2%?

Ᵽ100,000.00

Ᵽ90,000.00

Ᵽ70,000.00
Ᵽ80,000.00
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Question 8
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It is the percentage of increase of investment.

Rate

Maturity Value

Principal

Interest
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Question 9
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It is the date on which the money borrowed is to be completely repaid.

Origin date
Loan date

None of the above

Maturity date
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Question 10
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How long will Ᵽ157,500 amount to Ᵽ457,000 if the simple interest rate is at 10.5% per
annum?

7 years

8 years

6 years

5 years
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Question 11
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How long will a principal earn an interest equal to half of it at 5% simple interest?

10 years

9 years

6 years

3 years
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Question 12
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The person or institution who has money to invest or make available to people who needs
to borrow.

Lender

Debtor

Borrower

None of the choices

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Question 13
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In order to have Ᵽ200,000 in 3 years, how much should you invest if the simple interest is
5.5%?

Ᵽ117,673.82

Ᵽ171,673.83

Ᵽ171,673.82

Ᵽ117,673.83
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Question 14
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It is the amount of time, in years, that the money is borrowed or invested.

Future value

Principal

Term

Rate
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Question 15
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It is the amount to be paid to the lender at the end of the term.

Maturity Value

Rate

Interest

Principal
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Question 16
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How long will an amount of money double at a simple interest rate of 2% per annum?

70 years

60 years
40 years

50 years
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Question 17
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How much must be deposited by a 15-year old student in a bank that pays 1%
compounded annually so that after 10 years he will save Ᵽ20,000?

Ᵽ16,113.99

Ᵽ15,000.90

Ᵽ18,105.74

Ᵽ19,327.00
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Question 18
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Angel deposited Ᵽ20,000 in a bank that pays 0.5% simple interest. How much will be her
money after 6 years?

Ᵽ20,600.00

Ᵽ20,800.00

Ᵽ20,500.00

Ᵽ20,700.00
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Question 19
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How long will Ᵽ40,000 amount to Ᵽ51,200 if the simple interest rate is at 12% per annum?

None of the choices

233 years

23.3 years

2.33 years
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Question 20
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How much money should Joanne invest to obtain an amount of Ᵽ30,000 in 4 years if money
earns at 8% compounded annually?

Ᵽ20,517.01

Ᵽ25,457.23

Ᵽ23,233.69

Ᵽ22,050.90
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Question 21
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At what simple interest rate per annum will Ᵽ50,000 accumulate to Ᵽ59,500 in 2 years?

0.095%

0.95%

9.05%

9.5%
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Question 22
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A savings account in a bank yields 0.25% compound interest annually. Find the future value
of Ᵽ25,000 for 4 years in this savings account. How much interest will be gained?

Ᵽ28,028.12 ; Ᵽ3,028.12

Ᵽ27,540.72 ; Ᵽ2,540.72

Ᵽ26,555.60 ; Ᵽ1,555.60

Ᵽ25,250.94; Ᵽ250.94
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Question 23
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If Jenny borrowed Ᵽ88,800 at an annual simple interest rate of 10.25% for one and a half
year, how much interest should he pay?

Ᵽ13,653.00
Ᵽ16,353.00

Ᵽ15,363.00

Ᵽ16,353.00
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Question 24
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When invested at an annual interest rate of 10.5%, an amount earned Ᵽ157,500 of simple
interest in five years. How much money was originally invested?

Ᵽ3,000.00

Ᵽ300.00

Ᵽ300,000.00

Ᵽ30,000.00
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Question 25
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If an entrepreneur applies for a loan amounting to Ᵽ36,000 in a bank, the simple interest of
which is 4,860 for 1.5 years, what interest rate is being charged?

0.09%

0.9%

9%

90%
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Question 26
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How much should Anne set aside and invest in a fund earning 2% compounded quarterly if
she needs Ᵽ75,000 in 1 year and 3 months?

Ᵽ70,000.00

Ᵽ70,990.90

Ᵽ73,152.80

Ᵽ71,095.44
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Question 27
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If an entrepreneur applies for a loan amounting to Ᵽ500,000 in a bank, the simple interest of
which is Ᵽ157,500 for 3 years, what interest rate is being charged?

105%

1.05%

10.5%

0.105%
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Question 28
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At what simple interest rate per annum will Ᵽ25,000 accumulate to Ᵽ33,000 in 5 years?

6.4%

6%

64%
0.64%
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Question 29
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Accumulate Ᵽ15,000 for 2 years at 15% compounded monthly.

Ᵽ25,000.90

Ᵽ16,113.99

Ᵽ20,210.27

Ᵽ18,105.74
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Question 30
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When invested at an annual interest rate of 7%, an amount earned Ᵽ11,200 of simple
interest in two years. How much money was originally invested?

Ᵽ8,000.00
Ᵽ800.00

Ᵽ800,000.00

Ᵽ80,000.00
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Question 31
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A businessman invested Ᵽ100,000 in a fund that pays 10.5% compounded annually for 5
years. How much was in the fund at the end of the term?

Ᵽ193,547.05

Ᵽ164,744.68

Ᵽ180,115.94

Ᵽ155,960.00
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Question 32
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It is a fraction or a percentage being computed to a sum of money.

Principal

Interest

Future value

Present value
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Question 33
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It is where the payment is not the same as the interest compounding period.

Simple annuity

Simple interest

General annuity

Compound interest
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Question 34
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How long will Ᵽ175,500 amount to Ᵽ500,000 if the simple interest rate is at 10.5% per
annum?

3.32 years

3.34 years

3.35 years

3.33 years
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Question 35
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It is the value of the debt or investment at present day.

Interest

Maturity Value

Rate

Principal
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Question 36
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It is the original amount of money borrowed or invested.

Interest

Rate

Future Value

Principal
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Question 37
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It is the interest rate that determines the amount of money will earn

Future value

Term
Rate

Principal
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Question 38
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When money is compounded monthly, the frequency of conversion is _________.

12

365

4
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Question 39
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It is the money that you earn after a certain period of your money being in a bank for
safekeeping.
Principal

Interest

Present Value

Future Value
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Question 40
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It is the amount paid or earned for the use of money.

Interest

Rate

Principal

Maturity Value
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Question 41
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What is the present value of Ᵽ50,000 due in 7 years if money is worth 10% compounded
annually?

Ᵽ28,567.91

Ᵽ25,657.91

Ᵽ26,557.91

Ᵽ27,656.91
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Question 42
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It refers to an investment agreement between a depositor and a financial institution that
promises to pay out a steady amount of money over a term.

Annuity

Stocks

Bonds
Interest
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Question 43
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Maricris deposited Ᵽ880,000 in a bank that pays 9.25% simple interest. How much will be
her money after 2.5 years?

Ᵽ1,803,500.00

Ᵽ1,830,500.00

Ᵽ1,083,500.00

Ᵽ1,083,600.00
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Question 44
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Luisa invested a certain amount at 8% simple interest rate per year. After 6 years, the
interest she received amounted to Ᵽ48,000. How much did she invest?

Ᵽ110,000.00
Ᵽ100,000.00

Ᵽ120,000.00

Ᵽ130,000.00
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Question 45
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How much money should Klara place in a time deposit in a bank that pays 1.1%
compounded annually so that she will have Ᵽ200,000 after 6 years?

Ᵽ164,342.82

Ᵽ157,657.53

Ᵽ187,293.65

Ᵽ113,567.71
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Question 46
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At what simple interest rate per annum will Ᵽ360,000 accumulate to Ᵽ363,600 in 2 years?

50%

5%

0.05%

0.5%
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Question 47
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It is where compounding and payment period happen at the same time.

Compound interest

General annuity

Simple interest

Simple annuity
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Question 48
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Kenneth borrowed Ᵽ5,000 at 5% annual simple interest rate. If he decided to pay after 1 year
and 3 months, how much should he pay by then?

Ᵽ5,213.50

Ᵽ5,132.50

Ᵽ5,312.50

Ᵽ5,231.50
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Question 49
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It is the interest that is computed on the principal then added to it.

General annuity

Compound interest

Simple interest

Simple annuity
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Question 50
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At what simple interest rate will an amount of money double itself in 10 years?

10%

40%

20%

30%
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