This is the Uncategorized Multiples Choice Questions Part 14 of the Series in Engineering Mathematics. In Preparation for the ECE Board Exam make sure to expose yourself and familiarize each and every questions compiled here taken from various sources including past Board Exam Questions, Engineering Mathematics Books, Journals and other Engineering Mathematics References. In the actual board, you have to answer 100 items in Engineering Mathematics within 5 hours. You have to get at least 70% to pass the subject. Engineering Mathematics is 20% of the total 100% Board Rating along with Electronic Systems and Technologies (30%), General Engineering and Applied Sciences (20%) and Electronics Engineering (30%).
The Series
Following is the list of multiple choice questions in this brand new series:
Continue Practice Exam Test Questions Part XIV of the Series
Choose the letter of the best answer in each questions.
651. A man borrowed P2000 from a bank and promises to pay the amount for one year. He received only the amount of P1920 after the bank collected an advance interest of P80. What was the rate of discount and the rate of interest that the bank collected in advance.
- a. 3%, 3.17%
- b. 3%, 3.71%
- c. 4%, 4.17%
- d. 4%, 4.71%
652. The amount of P12 800 in 4yrs. At 5% compounded quarterly is ______?
- a. P 14 785.34
- b. P 15 614.59
- c. P 16 311.26
- d. P 15 847.33
653. A man borrows money from a bank which uses a simple discount rate of 14%. He signs a promissory note promising to pay P500 per month at the end of 4th, 6th, and 7th months respectively. Determine the amount of money that he received from the bank.
- a. P1403.68
- b. P1340.38
- c. P1102.37
- d. P1030.28
654. A nominal interest of 3% compounded continuously is given on the account. What is the accumulated amount of P10 000 after 10 years?
- a. P13 610.10
- b. P13 500.10
- c. P13 498.60
- d. P13 439.16
655. By the condition of a will, the sum of P2000 is left to a girl to be held in thrust fund by her guardian until it amounts to P50 000. When will the girl receive the money if the fund is invested at 8% compounded quarterly?
- a. 7.98 years
- b. 10.34 years
- c. 10.45 years
- d. 11.57 years
656. A man expects to receive P25 000 in 8 years. How much is that worth now considering interest at 8% compounded quarterly?
- a. P13 859.12
- b. P13 958.33
- c. P13 675.23
- d. P13 265.83
657. P500 000 was deposited at an interest of 6% compounded quarterly. Compute the compounded interest after 4 years and 9 months.
- a. 158 270.37
- b. 163 475.37
- c. 178 362.37
- d. 183 327.37
658. If the nominal interest rate is 3%, how much is P5000 worth in 10 years in a continuous compounded account?
- a. P5750
- b. P6750
- c. P7500
- d. P6350
659. P200 000 was deposited for a period of 4 years and 6 months and bears on interest of P85 649.25. What is the rate of interest if it is compounded quarterly?
- a. 8%
- b. 6%
- c. 7%
- d. 5%
660. How many years will P100 000 earned a compound interest of P50 000 if the interest rate is 9% compounded quarterly?
- a. 3.25
- b. 4.55
- c. 5.86
- d. 2.11
661. A certain amount was deposited 5 years and 9months ago at an interest 8% compounded quarterly. If the sum now is P315 379.85, how much was the amount deposited?
- a. P200 000
- b. P180 000
- c. P240 000
- d. P260 000
662. Compute the effective annual interest rate which is equivalent to 5% nominal annual interest compounded continuously.
- a. 5.26%
- b. 4.94%
- c. 5.13%
- d. 4.9%
663. Find the time required fro a sum of money to triple itself at 5% per annum compounded continuously?
- a. 18.23 yrs.
- b. 21.97 yrs.
- c. 23.36 yrs.
- d. 25.34 yrs.
664. A man wishes to have P40 000 in a certain fund at the end of 8 years. How much should he invest in a fund that will pay 6% compounded continuously?
- a. P24 751.34
- b. P36 421.44
- c. P28 864.36
- d. P30 486.42
665. If the effective annual interest rate is 4%, compute the equivalent nominal annual interest compounded continuously.
- a. 3.80%
- b. 3.92%
- c. 4.09%
- d. 4.10%
666. What is the nominal rate of interest compounded continuously for 10 years if the compounded amount factor is equal to 1.34986?
- a. 3%
- b. 4%
- c. 5%
- d. 6%
667. American Express Corp. charges 1.5% interest per month, compounded continuously on the unpaid balance purchases made on this credit card. Compute the effective rate of interest.
- a. 13.19%
- b. 20.25%
- c. 21.20%
- d. 19.72%
668. If the nominal interest is 12% compounded continuously, compute the effective rate of annual interest.
- a. 11.26%
- b. 12.75%
- c. 12.40%
- d. 11.55%
669. Compute the difference in the future amount of P500 compounded annually at nominal rate of 5% and if it is compounded continuously for 5 years at the same rate.
- a. P3.87
- b. P4.21
- c. P5.48
- d. P6.25
670. If the effective interest rate is 24%, what nominal rate of interest is charged for a continuously compounded loan?
- a. 21.51%
- b. 22.35%
- c. 23.25%
- d. 21.90%
671. What is the nominal rate of interest compounded continuously for 8 years if the pre4sent worth factor is equal to 0.6187835?
- a. 4%
- b. 5%
- c. 6%
- d. 7%
672. What is the difference of the amount 3 yrs. for now for a 10% simple interest and 10% compound interest per year?
- a. P50
- b. P100
- c. P155
- d. same
673. Find the discount is P2000 is discounted for 6 months and at 8% compounded quarterly.
- a. P76.92
- b. P80.00
- c. P77.66
- d. P78.42
674. If a sum of money triples in a certain period of time at a given rate of interest, compute the value of the single payment present worth factor.
- a. 0.333
- b. 3
- c. 0.292
- d. 1.962
675. If the single payment amount factor for a period of 5 years is 1.33822. What is the nearest value of the interest rate?
- a. 8%
- b. 7%
- c. 5.50%
- d. 6%
676. If the single payment present worth factor for a period of 8 years is 0.58201, compute the nearest value of the rate for that period.
- a. 6%
- b. 7%
- c. 6.5%
- d. 8%
677. If money is worth 8% compounded quarterly, compute the single payment amount factor for a period of 6 years.
- a. 1.60844
- b. 0.62172
- c. 1.70241
- d. 0.53162
678. Which of these gives the lowest effective rate of interest?
- a. 12.35% compounded annually
- b. 11.9% compounded semi-annually
- c. 12.2% compounded quarterly
- d. 11.6% compounded monthly
679. It takes 20.15 years to quadruple your money if invested x% compounded semi-annually. Find the value of x.
- a. 8%
- b. 6.5%
- c. 7%
- d. 5%
680. It takes 13.87 years to treble the money at the rate of x% compounded quarterly. Compute the value of x.
- a. 5%
- b. 6%
- c. 7%
- d. 8%
681. Money was invested at x% compounded quarterly. If it takes the money up to quadruple in 17.5 years, find the value of x.
- a. 8%
- b. 6%
- c. 7%
- d. 5%
682. Fifteen years ago P1000 was deposited in a bank account an today it is worth P2370. The bank pays semi-annually. What was the interest rate paid on this account?
- a. 4.9%
- b. 5.8 %
- c. 5.0%
- d. 3.8%
683. You borrow P3500 for one year from a friend at an interest rate of 1.5 per month instead of taking a loan from a bank at rate of 18% a year. Compare how much money you will save or lose on the transaction.
- a. You will pay P155 more than if you borrowed from the bank
- b. You will save P55 by borrowing from your friend
- c. You will pay P85 more that if you borrowed from the bank
- d. You will pay P55 less than if you borrowed from the bank
684. Find the present worth of a future payment of P100 000 to be made in 10 years with an interest of 12% compounded quarterly.
- a. P30444.44
- b. P33000.00
- c. P30655.68
- d. P30546.01
685. An initial deposit of P80 000 in a certain bank earns 6% interest per annum compounded monthly. If the earnings from the deposit are subject to 20% tax what would be the net value of the deposit be after three quarters?
- a. P95324.95
- b. P82938.28
- c. P68743.24
- d. P56244.75
686. The effective rate of interest of 14% compounded semi-annually is:
- a. 14.49%
- b. 14.36%
- c. 14.94%
- d. 14.88%
687. The amount of P50 000 was deposited in the bank earning an interest of 7.5% per annum. Determine the total amount at the end of % years, if the principal and interest were not withdrawn during the period?
- a. P70 374.90
- b. P71 781.47
- c. P72 475.23
- d. P78 536.34
688. What is the effective rate corresponding to 18% compounded daily? Take 1 year is equal to 360 days.
- a. 18.35%
- b. 19.39%
- c. 18.1%
- d. 19.72%
689. If P1000 becomes P1126.49 after 4 years when invested at a certain nominal rate of interest compounded semi-annually determine the nominal rate and the corresponding effective rate.
- a. 3% and 3.02%
- b. 4.29% and 4.32%
- c. 2.30% and 2.76%
- d. 3.97% and 3.95%
690. Convert 12% semi-annually to compounded quarterly
- a. 19.23% compounded quarterly
- b. 23.56% compounded quarterly
- c. 14.67% compounded quarterly
- d. 11.83% compounded quarterly
691. What is the corresponding effective interest rate of 18% compounded semi-quarterly?
- a. 19.25%
- b. 19.48%
- c. 18.46%
- d. 18.95%
692. If P5000 shall accumulate for 10 years at 8% compounded quarterly, find the compounded interest at the end of 10 years.
- a. P6005.30
- b. P6000.00
- c. P6040.20
- d. P6010.20
693. A couple borrowed P4000 from a lending company for 6 years at 12%. At the end of 6 years, it renews the loan for the amount due plus P4000 more for 3 years at 12%. What is the lump sum due?
- a. P14 842.40
- b. P16 712.03
- c. P12 316.40
- d. P15 382.60
694. How long (years) will it take money if it earns 7% compounded semi-annually?
- a. 26.30
- b. 40.30
- c. 33.15
- d. 20.15
695. P200 000 was deposited on Jan. 1, 1988 at an interest rate of 24% compounded semi-annually. How much would the sum be on Jan. 1, 1993?
- a. P421 170
- b. P521 170
- c. P401 170
- d. P621 170
696. If P500 000 is deposited at a rate of 11.25% compounded monthly; determine the compounded interest rate after 7 years and 9 months.
- a. 690 849
- b. 670 258
- c. 680 686
- d. 660 592
697. P200 000 was deposited at an interest rate of 24% compounded semi-annually. After how many years will the sum be P621 170?
- a. 4
- b. 3
- c. 5
- d. 6
698. A bank is advertising 9.5% accounts that yield 9.84 annually. How often is the interest compounded?
- a. monthly
- b. bi- monthly
- c. quarterly
- d. daily
699. Evaluate the integral of 2dx/(4x + 3) if the upper limit is 5 and the lower limit is 1.
- a. 0.595
- b. 0.675
- c. 0.486
- d. 0.387
700. Evaluate the integral of 2xdx/(2x^2 + 4) if the upper limit is 6 and the lower limit is 3.
- a. 0.675
- b. 0.620
- c. 0.580
- d. 0.486
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