Learn math applications MCQs in math quiz for test prep. Math applications quiz questions has multiple choice questions (MCQ), math applications test as to buy a home, nelda borrowed \$250,000 for 5 years and paid \$60,000 simple interest on loan. rate of interest he paid is. Answer key help with choices as 8.40%, 6.80%, 5.60% and 4.80% problem solving for competitive exam, viva prep, interview questions worksheets. Free math revision notes to practice math applications quiz with MCQs to find questions answers based online tests.

MCQ. To buy a home, Nelda borrowed \$250,000 for 5 years and paid \$60,000 simple interest on loan. The rate of interest he paid is

1. 8.40%
2. 6.80%
3. 5.60%
4. 4.80%

D

MCQ. Ana borrowed \$250000 for 7 years at interest rate of 12% per year. The amount she will pay at the end of seven years is

1. \$480,000
2. \$460,000
3. \$430,000
4. \$410,000

B

MCQ. The amount of money lent or borrowed by investors is classified as

1. inter bank exchange rate
2. compounded rate
3. the principal
4. interest rate

C

MCQ. Rachel invested \$10000 at 8% per annum then the time Rachel will take to make it \$15000 is

1. 8.25 years
2. 8 years
3. 7.25 years
4. 6.25 years

D

MCQ. Michael wants to borrow some money for 48 months at 11% interest per year and pay \$1950 in interest charges for his business expansion. The amount he could borrow is

1. \$4,432
2. \$5,432
3. \$6,532
4. \$6,832

A