WorksheetsMultiple choice questions (1 mark)
Total questions: 25
Worksheet time: 19mins
Which of the following grows money faster?
Simple interest
Compound interest
Tax-free income
Fixed spending
What does 72 represent in the Rule of 72?
Number of years
Constant for calculating doubling time
Interest rate
Principal amount
At 8% compound interest, how long will it take for Rs. 100 to double? (Use the Rule of 72)
8 years
9 years
10 years
12 years
What type of interest is calculated only on the principal amount?
Compound interest
Simple interest
Fixed interest
None of the above
Calculate the compound interest on ₹18000 at 5% per annum for 2 years.
₹1,800
₹19, 845
₹1,845
₹19,000
A person borrows a sum at 8% p.a. simple interest. After 5 years, he pays ₹4,000 as interest. What was the principal amount borrowed?
₹8,000
₹10,000
₹6,000
₹5,000
A man borrowed ₹25,000 from a bank at 10% p.a. simple interest. What is the total interest he will pay after 4 years?
₹10,000
₹12,000
₹8,000
₹5,000
A sum of ₹18,000 is borrowed at 7.5% p.a. simple interest. If the borrower pays ₹2,700 as interest, for how many years was the loan taken?
1 year
2 years
3 years
4 years
Which is an incentive for saving?
To buy something expensive
To meet emergencies
To achieve financial goals
All of the above
If a loan of ₹40,000 was taken at 9% per annum simple interest for 3 years, what will be the interest paid?
₹10,800
₹12,000
₹9,000
₹8,800
Calculate the rate of return using the Rule of 72 when ₹500 becomes ₹1000 in 6 years.
6%
12%
8%
10%
Which statement best describes the difference between simple interest and compound interest?
What does the Rule of 72 estimate?
The number of years required for an investment to double by dividing 72 by the annual interest rate.
The number of months required for an investment to double by dividing the principal by 72.
The future value found by multiplying the rate by 72.
The interest earned each year by dividing 72 by the principal.
Why is it important to start saving early?
It provides more time for compounding to grow savings.
It guarantees zero risk on all investments.
It ensures the same returns as starting later.
It avoids the need for budgeting.
When you buy something but do not pay for it immediately, your payment is expressed in terms of money to be paid in the future. This is an example of what function of money?
Store of value
Standard of Deferred Payments
Medium of exchange
Measure of Value
Medium of exchange, store of value, and measure of value are all…
Characteristics of money
Functions of money
Types of money
Measures of money
There are two types of expenses. They are ____________ and _______________.
Find the savings amount Gavel needs to set aside each month to be able to afford a phone worth ₱22,500 in 6 months.
(a)
The first step in creating a budget is _________.
know your income
determine fixed expenses
determine variable expenses
review periodically
What does the S stand for in SMART GOALS
Specific
Special
Standard
Sports
Liquidity means_________
How quickly you will get cash
How quickly you can convert into Cash
How quickly you can market
How well you will get returns
Pavan bought a house for RM 380000 in cash. She sold the house for RM 620000 after 5 years. The total amount of the charges involved in the transaction is RM 42000. Calculate the return of investment of Puan Zakiah.
49.5%
52.1%
56.9%
74.2%
Which type of account generally opened by bussinessmen......
Saving bank account
Current bank account
Recurring bank account
Fixed deposit bank account
How money changes over time, money earned today is worth more than money in the future because you can earn interest
Compounding
Interest
Degenerating Money
Time Value of Money
