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Basics of Financial Mathematics — Practice Quiz

CBSE · Class 11 · Applied Mathematics

Try a 4-question quiz on Basics of Financial Mathematics for CBSE Class 11 Applied Mathematics: tap an answer to check it and see why.

45 questions25 flashcards3 formulas & key relations5 concepts

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Quick Quiz: Basics of Financial Mathematics

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1

What is the simple interest on ₹8,000 for 3 years at 12% per annum?

2

If ₹5,000 amounts to ₹6,050 in 2 years at simple interest, what is the rate of interest?

3

Find the compound amount for ₹10,000 invested for 2 years at 8% compounded annually.

4

What is the present value of ₹15,000 due in 3 years at 10% discount rate?

45 Questions·
multiple choicemultiple correct

Sample Questions

1multiple correct

Which of the following statements about compound interest are correct?

Show answer

Interest is calculated on principal plus accumulated interest, Compound interest is always greater than simple interest for same period, The formula is A = P(1 + r)ⁿ

Compound interest calculates interest on principal plus accumulated interest, making it larger than simple interest. Formula A = P(1 + r)ⁿ is correct. Higher compounding frequency increases the final amount.

2multiple choice

If the effective annual rate is 10.25% when interest is compounded semi-annually, what is the nominal rate?

Show answer

10%

Using effective rate formula: 1.1025 = (1 + r/2)². Taking square root: 1.05 = 1 + r/2. So r/2 = 0.05, therefore r = 10%. Students often confuse nominal and effective rates.

3multiple choice

Calculate the future value of an ordinary annuity of ₹2,000 per year for 3 years at 6% interest.

Show answer

₹6,372

Using FV = PMT[(1+r)ⁿ - 1]/r. FV = 2000[(1.06)³ - 1]/0.06 = 2000[1.191 - 1]/0.06 = 2000 × 0.191/0.06 = 2000 × 3.186 = ₹6,372. Common error: using annuity due formula.

4multiple correct

Which factors affect the calculation of Income Tax in India?

Show answer

Gross total income, Deductions under Section 80C, Age of the taxpayer, Tax slab rates

Income tax depends on gross income, allowable deductions, age (different slabs for senior citizens), and applicable tax rates. Marital status doesn't directly affect tax calculation in India.

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Frequently Asked Questions

What are the important topics in Basics of Financial Mathematics for CBSE Class 11 Applied Mathematics?
Key topics in Basics of Financial Mathematics include Interest and Interest Rates, Simple and Compound Interest, Effective Interest Rate and Equivalency, Present Value, Future Value, and Net Present Value. Study these first, then practise questions on each for Class 11 exams.
How many practice questions are there for Basics of Financial Mathematics?
There are 45 questions on Basics of Financial Mathematics. Try the 4-question sample quiz on this page first; each answer shows an explanation when you tap it.

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Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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