Simple Interest Calculation Practice Quiz
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Questions and Answers

What is the rate of interest for the personal loan received by Maryam?

  • 5%
  • 3%
  • 4%
  • 2.5% (correct)

What is the future value of depositing BD 10,000 for 5 years in Ahli United Bank at 7% interest compounded semi-annually?

  • BD 13,000
  • BD 12,000
  • BD 14,105.99 (correct)
  • BD 15,000

What is the effective annual rate (EAR) offered by Al-Salam Bank for depositing the lottery prize money?

  • 4%
  • 3%
  • 4.07% (correct)
  • 3.03%

What is the missing value for Year 2023 when the rate is 50%?

<p>BD 18,000 (C)</p> Signup and view all the answers

What is the missing value for Year 2022 when the rate is 8%?

<p>BD 8,000 (B)</p> Signup and view all the answers

What is the rate of interest for the personal loan received by Maryam?

<p>2.5% (D)</p> Signup and view all the answers

What is the future value of depositing BD 10,000 for 5 years in Ahli United Bank at 7% interest compounded semi-annually?

<p>BD 14,105.99 (A)</p> Signup and view all the answers

What is the Effective Annual Rate (EAR) for depositing the lottery prize money in Al-Salam Bank?

<p>4.07% (B)</p> Signup and view all the answers

In the simple interest formula, what is the missing value for Year 2023 if the rate is 50% and the value for Year 2022 is BD 8,000?

<p>BD 12,000 (C)</p> Signup and view all the answers

If the rate is 8% and the value for Year 2022 is BD 5,000, what is the missing value for Year 2023 using the simple interest formula?

<p>BD 5400 (C)</p> Signup and view all the answers

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