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</p> Signup and view all the answers

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

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

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

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

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