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CA Foundation Mathematics of Finance: related Quantitative Aptitude practice

The practice bank below covers broader Quantitative Aptitude topics; a dedicated Mathematics of Finance lesson is not available yet.

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Quantitative Aptitude questions and exercises with answers

Showing questions 1–30 of 31.

Simple interest on Rs.1000 for 2 years at 10% per annum equalsRead the answer and worked solution →If principal is Rs.5000 and amount after 1 year is Rs.5500, the rate of simple interest isRead the answer and worked solution →Compound interest on Rs.1000 at 10% per annum compounded annually for 2 years isRead the answer and worked solution →The amount Rs.1000 grows to in 1 year at 8% compounded half-yearly isRead the answer and worked solution →The present value of Rs.1100 due in 1 year at 10% per annum isRead the answer and worked solution →In how many years will Rs.1000 amount to Rs.1331 at 10% per annum compounded annually?Read the answer and worked solution →At what rate compounded annually will Rs.1000 grow to Rs.1210 in 2 years?Read the answer and worked solution →The difference between CI and SI on Rs.1000 for 2 years at 10% per annum isRead the answer and worked solution →The effective annual rate corresponding to a nominal rate of 8% compounded quarterly is approximatelyRead the answer and worked solution →Future value of an annuity of Rs.100 per year for 3 years at 10% per annum isRead the answer and worked solution →Present value of an annuity of Rs.1000 per year for 2 years at 10% per annum isRead the answer and worked solution →A sum amounts to Rs.1440 in 2 years at 10% compounded annually. The principal isRead the answer and worked solution →If Rs.500 invested today grows to Rs.605 in 2 years, the compound interest rate per annum isRead the answer and worked solution →Rs.5000 lent at 10% per annum compounded annually for 3 years gives compound interest ofRead the answer and worked solution →If a sum becomes 8 times itself in 9 years at compound interest, the rate per annum isRead the answer and worked solution →Sum of money doubles in 5 years at compound interest. It will become 4 times inRead the answer and worked solution →A man invests Rs.10000 partly at 8% SI and partly at 10% SI. Total interest after 1 year is Rs.880. Amount at 8% isRead the answer and worked solution →The CI on Rs.8000 for 1.5 years at 10% per annum compounded half-yearly isRead the answer and worked solution →If Rs.P amounts to Rs.4P in 12 years at compound interest, the rate per annum is approximatelyRead the answer and worked solution →An annuity of Rs.500 is paid for 10 years at 10% per annum. The future value is approximatelyRead the answer and worked solution →The present value of a perpetuity of Rs.100 per year at 5% per annum isRead the answer and worked solution →Equal monthly instalments needed to repay Rs.10000 in 1 year at 12% per annum approximately equalRead the answer and worked solution →Rs.16000 grows at compound interest to Rs.20736 in 2 years. The rate per annum isRead the answer and worked solution →The amount payable after 2 years on Rs.4000 at 5% per annum compounded annually isRead the answer and worked solution →The interest on Rs.2500 for 5 years at simple interest is Rs.500. The rate isRead the answer and worked solution →Sinking fund deposit at end of each year to accumulate Rs.10000 in 5 years at 8% per annum equals approximatelyRead the answer and worked solution →If a loan of Rs.50000 is to be repaid in 5 equal annual instalments at 10% per annum, each instalment equals approximatelyRead the answer and worked solution →Doubling period under the Rule of 72 at 9% per annum approximately equalsRead the answer and worked solution →The interest rate per period in CI when annual rate is 12% compounded quarterly isRead the answer and worked solution →Key in the interestRead the answer and worked solution →

Worked practice questions

Simple interest on Rs.1000 for 2 years at 10% per annum equals

  1. Rs.250
  2. Rs.200
  3. Rs.100
  4. Rs.300
Show answer and solution

Correct answer: B. Rs.200

1. Simple Interest formula: SI = P * R * T / 100. 2. Substitute P = 1000, R = 10, T = 2. 3. SI = 1000 * 10 * 2 / 100 = 200. 4. So the simple interest is Rs.200. _Source: ICAI BoS Foundation Paper 3, Ch 4 'Math of Finance', p.4_

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If principal is Rs.5000 and amount after 1 year is Rs.5500, the rate of simple interest is

  1. 5%
  2. 10%
  3. 15%
  4. 8%
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Correct answer: B. 10%

1. Simple Interest = Amount - Principal = 5500 - 5000 = 500. 2. SI = PRT/100; here P = 5000, T = 1, SI = 500. 3. 500 = 5000 * R * 1 / 100 = 50R. 4. R = 500/50 = 10%. _Source: ICAI BoS Foundation Paper 3, Ch 4 'Math of Finance', p.4_

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Compound interest on Rs.1000 at 10% per annum compounded annually for 2 years is

  1. Rs.200
  2. Rs.220
  3. Rs.250
  4. Rs.210
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Correct answer: D. Rs.210

1. Amount under CI: A = P(1 + R/100)^T. 2. A = 1000 * (1.10)^2 = 1000 * 1.21 = 1210. 3. CI = A - P = 1210 - 1000 = 210. 4. So the compound interest is Rs.210; option B is the SIMPLE interest, which is the trap. _Source: ICAI BoS Foundation Paper 3, Ch 4 'Math of Finance', p.8_

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More Quantitative Aptitude topics

Quantitative MethodsTime Value of MoneyCorrelation and RegressionRatio and Proportion, Indices and LogarithmsSets, Relations and FunctionsMeasures of Central Tendency and DispersionStatistical Representation of Data and SamplingSequence and Series