Quantitative - Mathematics - Arithmetic:

Arithmetic

MCQ - 40-1418

Question:

Javeria borrows 425 dollars from the bank. Her loan has an annual interest rate of 5 percent. How much interest will she owe after 6 years?

127.50
21.25
2,125
21.25
10.625

Correct Answer: A

Explanation:

Use the simple interest formula:

Interest equals the initial amount multiplied by the annual interest rate multiplied by the number of years:

I=P⋅r⋅t

Let I= interest owed

Let P= principal (aka the initial amount of the loan)

Let r = interest rate

Let t = years passed

Therefore:

I=(425)(.05)(6)=127.50

Previous Question

Next Question

Back to Section

Record Performance

86 MCQ for effective preparation of the test of Arithmetic of Arithmetic section.

Read the MCQ statement: Javeria borrows 425 dollars from the bank. Her loan has an annual interest rate of 5 percent. How much interest will she owe after 6 years? , keenly and apply the method you have learn through the video lessons for Arithmetic to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 40-1418.

How to Answer

Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

Share This Page

Full Films

TV Serials

Short Films

Upcoming Films