You borrow P3,500.00 for one year from a friend at an interest rate of – McqOptions

MCQOPTIONS

1.	You borrow P3,500.00 for one year from a friend at an interest rate of 1.5% per month instead of taking a loan from a bank at a rate of 18% per year. How much lesser you will pay by borrowing the money from the bank ?
A.	P 62.44
B.	P44.55
C.	P54.66
D.	P37.56
Answer» D. P37.56

Discussion

No Comment Found

Related MCQs

If is principal amount, is the rate of interest and is the number of periods in years, then the interest factor is :
If is the future capital accumulated in years at the rate of interest per annum, then present worth is :
The product of CAF () and PWF () is:
Renu Bala deposits Rs 1200 now, Rs 800 two years from now and Rs 1000 five years from now. If the savings bank's rate of interest in 5%, she will receive an amount of Rs 10 years from now, where is
If is principal amount, is the rate of interest per annum and is the number of periods in years, the compound amount factor (CAF) is :
Which of these gives the lowest effective rate of interest ?
You borrow P3,500.00 for one year from a friend at an interest rate of 1.5% per month instead of taking a loan from a bank at a rate of 18% per year. How much lesser you will pay by borrowing the money from the bank ?
Which of the following is an example of intangible asset ?
Which is true about partnership ?
Which is true about corporation ?