Written Instructions:
For each Multiple Choice Question (MCQ), four options are given. One of them is the correct answer. Make your choice (1,2,3 or 4). Write your answers in the brackets provided..
For each Short Answer Question(SAQ) and Long Answer Question(LAQ), write your answers in the blanks provided.
Leave your answers in the simplest form or correct to two decimal places.
1) A cost of a computer is 21126. The company offers it in 60 months, but charges 5% interest. Find the monthly instalment the purchaser has to pay.
Answer:_______________ |
2) A cost of a computer is 29382. The company offers it in 36 months, but charges 6% interest. Find the monthly instalment the purchaser has to pay.
Answer:_______________ |
3) A cost of a computer is 14889. The company offers it in 48 months, but charges 6% interest. Find the monthly instalment the purchaser has to pay.
Answer:_______________ |
4) A cost of a computer is 48065. The company offers it in 48 months, but charges 10% interest. Find the monthly instalment the purchaser has to pay.
Answer:_______________ |
5) A cost of a computer is 46569. The company offers it in 60 months, but charges 5% interest. Find the monthly instalment the purchaser has to pay.
Answer:_______________ |
6) A cost of a computer is 14004. The company offers it in 36 months, but charges 5% interest. Find the monthly instalment the purchaser has to pay.
Answer:_______________ |
7) A cost of a computer is 46701. The company offers it in 36 months, but charges 9% interest. Find the monthly instalment the purchaser has to pay.
Answer:_______________ |
8) A cost of a computer is 38048. The company offers it in 60 months, but charges 7% interest. Find the monthly instalment the purchaser has to pay.
Answer:_______________ |
9) A cost of a computer is 32113. The company offers it in 60 months, but charges 5% interest. Find the monthly instalment the purchaser has to pay.
Answer:_______________ |
10) A cost of a computer is 39317. The company offers it in 36 months, but charges 9% interest. Find the monthly instalment the purchaser has to pay.
Answer:_______________ |
1) A cost of a computer is 21126. The company offers it in 60 months, but charges 5% interest. Find the monthly instalment the purchaser has to pay. Answer: 1408 SOLUTION 1 : Given : Cost of computer = 21126 Interest = 5% period = 60 months(5year) Total interest = (21126 x 5 x 5) ÷100 = 63378 Total amount to be paid = 63378 + 21126 = 84504 Monthly instalment = Total amount ÷ Number of months = 84504 ÷ 60 Monthly instalment = 1408 |
2) A cost of a computer is 29382. The company offers it in 36 months, but charges 6% interest. Find the monthly instalment the purchaser has to pay. Answer: 2579 SOLUTION 1 : Given : Cost of computer = 29382 Interest = 6% period = 36 months(3year) Total interest = (29382 x 6 x 3) ÷100 = 63465.12 Total amount to be paid = 63465.12 + 29382 = 92847.12 Monthly instalment = Total amount ÷ Number of months = 92847.12 ÷ 36 Monthly instalment = 2579 |
3) A cost of a computer is 14889. The company offers it in 48 months, but charges 6% interest. Find the monthly instalment the purchaser has to pay. Answer: 1204 SOLUTION 1 : Given : Cost of computer = 14889 Interest = 6% period = 48 months(4year) Total interest = (14889 x 6 x 4) ÷100 = 42880.32 Total amount to be paid = 42880.32 + 14889 = 57769.32 Monthly instalment = Total amount ÷ Number of months = 57769.32 ÷ 48 Monthly instalment = 1204 |
4) A cost of a computer is 48065. The company offers it in 48 months, but charges 10% interest. Find the monthly instalment the purchaser has to pay. Answer: 5808 SOLUTION 1 : Given : Cost of computer = 48065 Interest = 10% period = 48 months(4year) Total interest = (48065 x 10 x 4) ÷100 = 230712 Total amount to be paid = 230712 + 48065 = 278777 Monthly instalment = Total amount ÷ Number of months = 278777 ÷ 48 Monthly instalment = 5808 |
5) A cost of a computer is 46569. The company offers it in 60 months, but charges 5% interest. Find the monthly instalment the purchaser has to pay. Answer: 3105 SOLUTION 1 : Given : Cost of computer = 46569 Interest = 5% period = 60 months(5year) Total interest = (46569 x 5 x 5) ÷100 = 139707 Total amount to be paid = 139707 + 46569 = 186276 Monthly instalment = Total amount ÷ Number of months = 186276 ÷ 60 Monthly instalment = 3105 |
6) A cost of a computer is 14004. The company offers it in 36 months, but charges 5% interest. Find the monthly instalment the purchaser has to pay. Answer: 1089 SOLUTION 1 : Given : Cost of computer = 14004 Interest = 5% period = 36 months(3year) Total interest = (14004 x 5 x 3) ÷100 = 25207.2 Total amount to be paid = 25207.2 + 14004 = 39211.2 Monthly instalment = Total amount ÷ Number of months = 39211.2 ÷ 36 Monthly instalment = 1089 |
7) A cost of a computer is 46701. The company offers it in 36 months, but charges 9% interest. Find the monthly instalment the purchaser has to pay. Answer: 5500 SOLUTION 1 : Given : Cost of computer = 46701 Interest = 9% period = 36 months(3year) Total interest = (46701 x 9 x 3) ÷100 = 151311.24 Total amount to be paid = 151311.24 + 46701 = 198012.24 Monthly instalment = Total amount ÷ Number of months = 198012.24 ÷ 36 Monthly instalment = 5500 |
8) A cost of a computer is 38048. The company offers it in 60 months, but charges 7% interest. Find the monthly instalment the purchaser has to pay. Answer: 3297 SOLUTION 1 : Given : Cost of computer = 38048 Interest = 7% period = 60 months(5year) Total interest = (38048 x 7 x 5) ÷100 = 159801.6 Total amount to be paid = 159801.6 + 38048 = 197849.6 Monthly instalment = Total amount ÷ Number of months = 197849.6 ÷ 60 Monthly instalment = 3297 |
9) A cost of a computer is 32113. The company offers it in 60 months, but charges 5% interest. Find the monthly instalment the purchaser has to pay. Answer: 2141 SOLUTION 1 : Given : Cost of computer = 32113 Interest = 5% period = 60 months(5year) Total interest = (32113 x 5 x 5) ÷100 = 96339 Total amount to be paid = 96339 + 32113 = 128452 Monthly instalment = Total amount ÷ Number of months = 128452 ÷ 60 Monthly instalment = 2141 |
10) A cost of a computer is 39317. The company offers it in 36 months, but charges 9% interest. Find the monthly instalment the purchaser has to pay. Answer: 4631 SOLUTION 1 : Given : Cost of computer = 39317 Interest = 9% period = 36 months(3year) Total interest = (39317 x 9 x 3) ÷100 = 127387.08 Total amount to be paid = 127387.08 + 39317 = 166704.08 Monthly instalment = Total amount ÷ Number of months = 166704.08 ÷ 36 Monthly instalment = 4631 |