allerySchool RD: equal monthly sums earn equal interest over 6 months at 12% yearly and 8 months at what rate?
- 7% yearly
- 8% yearly
- 6% yearly
- 9% yearly
Show answer and solution
Correct answer: A. 7% yearly
The second annual rate is 12×6×7/(8×9), or 7%.
ICSE Class 10 Commercial Mathematics: GST, Banking & Shares — practice questions — page 3
Explore 152 free Commercial Mathematics: GST, Banking & Shares questions in ICSE Class 10 Mathematics. Open each question or exercise to read its content, reference answers and available explanation.
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Showing questions 61–90 of 152.
School RD: equal monthly sums earn equal interest over 6 months at 12% yearly and 8 months at what rate?Read the answer and worked solution →School RD: ₹1,000 monthly for a year. Interest at 8% yearly exceeds interest at 6% byRead the answer and worked solution →An RD uses I=Pn(n+1)r/2400. With n fixed, r falls from 8 to 6. To keep I, P=₹900 must becomeRead the answer and worked solution →A school RD's maturity is ₹7,650. Same term and rate, monthly saving rises from ₹300 to ₹450. New maturity?Read the answer and worked solution →School RD: which monthly deposit gives ₹12,390 after 12 months at 6% yearly?Read the answer and worked solution →School RD: 12 months at 6% yearly. To reach ₹12,400, minimum monthly sum in ₹100 multiples?Read the answer and worked solution →Monthly surplus ₹800 funds a 12-month school RD at 6% yearly. How short of ₹10,000 is maturity?Read the answer and worked solution →A school RD pays ₹10,068 after ₹800 monthly for 12 months. Annual interest rate?Read the answer and worked solution →₹1,000 monthly matures to ₹12,780 at 12% yearly in the school RD model. Term?Read the answer and worked solution →A 19-month school RD earns interest equal to 5% of total deposits. Annual rate?Read the answer and worked solution →School RD at 12% yearly: interest is 10% of total instalments. How many monthly instalments?Read the answer and worked solution →School RD: ₹500 monthly, 12 months, 6% yearly. Treating all ₹6,000 as held a year overstates interest byRead the answer and worked solution →For RD interest, P=₹1,000,n=12,r=6. Using n(n−1) instead of n(n+1) understates interest byRead the answer and worked solution →I=Pn(n+1)r/2400 gives ₹3.90 after entering r=0.06 for 6%. Correct interest?Read the answer and worked solution →In I=Pn(n+1)r/2400, n is months. For a 1.5-year RD, n(n+1) equalsRead the answer and worked solution →An RD's 12 equal payments earn SI for 12,...,1 months. Interest from first six:last six?Read the answer and worked solution →₹1,000 RD deposits earn simple interest for 12,11,...,1 months at 6% yearly. First three deposits earnRead the answer and worked solution →An RD's equal deposits are held for n,n−1,...,1 months, totalling 91 months. Number of deposits?Read the answer and worked solution →Two 12-month school RDs save ₹500 at 6% yearly and ₹400 at 9%. Combined interest?Read the answer and worked solution →A 12-month school RD changes from ₹500 monthly at 6% yearly to ₹600 at 8%. Maturity increases byRead the answer and worked solution →School RD at 6% yearly: maturity is 25.5 times the monthly deposit. Duration?Read the answer and worked solution →RDs: A pays ₹1,000×12, gets ₹12,390; B pays ₹400×24, gets ₹10,200. Who earns more interest?Read the answer and worked solution →School RD: P fixed, annual rate 6%. At 12 months I=₹390. A one-percentage-point rate rise makes IRead the answer and worked solution →At fixed duration, a 10% instalment rise and 20% rate rise change school RD interest byRead the answer and worked solution →School RD: deposits ₹9,600, interest ₹400. Same term, monthly sum doubles and rate halves. New maturity?Read the answer and worked solution →An RD receives ₹1,000×12; positive interest, no fees. Which maturity is impossible?Read the answer and worked solution →School RD: ₹800 monthly for 13 months. First deposit earns ₹48 more than last. Annual rate?Read the answer and worked solution →School RD: ₹1,000 monthly at 6% yearly. Minimum full-month term earning at least ₹300 interest?Read the answer and worked solution →A 12% dividend on a ₹100 FV share priced ₹150 is based onRead the answer and worked solution →Annual dividend stays ₹8; price falls from ₹100 to ₹50. Yield becomesRead the answer and worked solution →
Worked practice questions
School RD: ₹1,000 monthly for a year. Interest at 8% yearly exceeds interest at 6% by
- ₹65
- ₹20
- ₹130
- ₹260
Show answer and solution
Correct answer: C. ₹130
The two-percentage-point annual rate difference adds 1000×12×13×2/2400, or ₹130.
An RD uses I=Pn(n+1)r/2400. With n fixed, r falls from 8 to 6. To keep I, P=₹900 must become
- ₹675
- ₹1,125
- ₹1,800
- ₹1,200
Show answer and solution
Correct answer: D. ₹1,200
Keeping Pr constant requires a monthly deposit of 900×8/6, or ₹1,200.
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