Financial Mathematics (Interest, Profit, Loss, and Depreciation)
17 questions
A trader invested in a savings scheme that pays compound interest at a rate of per annum compounded annually. What is the total compound interest earned at the end of years?
A company purchased a processing machine for . The value of the machine depreciates at a compound rate of per annum. At the end of years, the machine was sold at a profit of based on its depreciated value. What was the selling price of the machine?
An entrepreneur bought a commercial printing machine for . If the machine depreciates in value at a compound rate of per annum, what is its value in Naira () at the end of years?
A cooperative society invested in a fixed deposit fund that pays compound interest at a rate of per annum compounded annually. What is the total compound interest earned by the cooperative society at the end of years?
A merchant bought a power generator for and sold it to a retailer at a profit of . The retailer later sold the generator to a customer at a loss of . How much did the customer pay for the generator?
An artisan deposited into a savings account that pays a compound interest rate of per annum compounded annually. What is the total compound interest earned at the end of years?
A business owner borrowed to expand his store at a compound interest rate of per annum, compounded annually. What is the total compound interest he will pay at the end of 2 years?
A trader bought a set of solar panels for . He marked up the cost price by to fix the marked price. During a trade fair, he offered a discount on the marked price. What is his net profit in Naira?
A trader bought a quantity of palm oil. He sold of the total quantity at a profit of , of the remaining palm oil at a loss of , and the rest of the palm oil at a profit of . If his overall profit on the entire transaction was , what is the value of ?
A businesswoman invested in a financial fund. Part of the money was invested at a simple interest rate of per annum, and the remaining part was invested at simple interest per annum. If the total interest earned at the end of year was , what was the amount, in Naira, invested at the interest rate?
A farmer bought a motorcycle for and later sold it at a profit of . What is the selling price of the motorcycle in Naira?
A logistics firm purchased a commercial delivery van for . If the value of the van depreciates by in the first year and by in the second year, what is the value of the van at the end of the second year?
A trader deposited in a microfinance bank offering compound interest at the rate of per annum, compounded annually. What is the total interest earned by the trader at the end of years?
An investor deposited into a financial scheme for years at an annual interest rate of . If the difference between the compound interest (compounded annually) and the simple interest earned over the -year period is , calculate the value of .
A poultry farmer in Ogun State took a loan of from a cooperative society at an annual interest rate of , compounded annually. What is the total interest paid by the farmer at the end of years?
A boutique owner in Enugu borrowed to expand her business at an annual interest rate of , compounded annually. If she repays the loan in full after years, what is the total interest she paid on the loan?
A cooperative society in Akure granted a loan of to a farmer at an interest rate of per annum, compounded annually. What is the total compound interest owed at the end of years?