FOUNDATION ELITE QUIZ 1

Raja aged 40 wishes his wife Rani to have Rs. 40 lakhs

at his death. If his expectation of life is another 30 yrs & he

starts making equal annual investments commencing now

at 3% CI p.a. How much should he invest annually?

• 84,077

• 81,628

• 84,449

• 84,247

company may obtain a machine either by leasing it

for 5 years (useful life) at an annual rent of Rs. 2,000 or by

purchasing machine for Rs. 8,100. If company can borrow

money at 18% p.a., which alternative is preferable?

• Leasing

• Purchasing

• Can't say

• None

A machine worth Rs. 4,90,740 is depreciated at 15% on

its opening value each year. When its value would reduce to

Rs. 2,00,000:

• 5 years 6 months

• 5 years 7 months

• 5 years 5 months

• none

A sinking fund is created for redeeming debentures

worth Rs. 5 lacs at the end of 25 years. How much provision

needs to be made out of profits each year provided sinking

fund investments can earn interest at 4% p.a.?

• Rs. 12,006

• Rs. 12,040

• Rs. 12,039

• none

If the difference of S.I & C.I is Rs. 72 at 12% for 2 years.

Calculate the amount.

• 8,000

• 6,000

• 5,000

• 7,750

If a SI on a sum of money at 6% p.a. for 7 years is equal

to twice of SI on another sum for 9 years at 5% p.a. Ratio is:

• 2:15

• 7:15

• 15:7

• 1:7

By mistake a clerk, calculated SI on principal for 5

months at 6.5% p.a. instead of 6 months at 5.5% p.a. If error

in calculation was Rs. 25.40. Original sum of principal = _____

• 60,690

• 60,960

• 90,660

• 90,690

Partners A & B together lent Rs. 3,903 at 4% p.a.

interest compounded annually. After a span of 7 years, A

gets the same amount as B gets after 9 years. Share of A in

sum of Rs. 3,903 would have been:

• 1,875

• 2,280

• 2,028

• 2,820

Suppose your parent decides to open a PPF account in

a bank towards your name with Rs. 10,000 every year

starting from today for next 15 years. When you receive &

get 8.5% p.a. interest rate compounded annually. What is

the present value of this annuity? (Give answer in Rs. without

any fraction.) (Given P (15,0.085) = 8.304236576

• 83,042

• 90,100

• 93,042

• 73,042

Mr. X invest ₹ 10,000 every year starting from today for

next: 10 years. suppose interest rate is 8% pa compounded

annually. Calculate future value of the annuity.

• 𝟏, 𝟓𝟔, 𝟒𝟓𝟒. 𝟖𝟖

• 1,56,554.88

• 1,44,865.625

• None of these