Matric Part 1/9th Class General Math Chapter 4 Short Questions Test With Answer for Unit 4 Financial Mathematics

Find the compound profit on Rs. 54000 for one year at 12% per annum.

• Ans 1:

• Ans 1:

• Ans 1:

• Ans 1:

• Ans 1:

What is meant by Bill of Exchange?

• Ans 1: A bill of Exchange is an instrument in writing containing an unconditional order,signed by the maker ,directing a certain person to pay a certain amount only to or to the order of a certain person or the bearer of the instruments.

What is Online Banking?

• Ans 1: Electronic based banking services provided by devices such as ATM ,.POSs,Automated Clearing House,Network,Internet or Wire.In other words, online banking is a system of transmitting and executing instruction for banking transtions in a real time through electronic telecommunications and computerized links between bank and customers via telephone line satelite or automated teller machines.

• Ans 1:

Mr. Adil bought a running business worth Rs. 10,00,000 and got a cliam of Rs. 500,000for actual damages. How much loss had he recovered through insurance?

• Ans 1:

Mr. Nadeem insured shop @ 3% for 3 years, the depreciation rate is 5% yearly. If he paid on amount of Rs. 21000 as the first premium, what is the worth of his shop. If he got a claim of Rs. 200,000 after two years, how much benfits did he get?

• Ans 1:

What is Pay Order?

• Ans 1: Pay order is like a cheaque,issued by bank on the request of its customer or in payment of its own expenses or dues,drawn on itself,to pay a specified sum of money to the order of specfied person.Pay Orders are usually issued by the bank on receipt of full amount involved.which means it would not be retruned unpaid due to lack of funds.it is also called banker cheaque of cahseri's cheaque.

• Ans 1:

Mr. Adil bought a running business worth Rs. 10,00,000 and got a cliam of Rs. 500,000for actual damages. How much loss had he recovered through insurance?

• Ans 1:

• Ans 1:

• Ans 1:

What is meant by Bill of Exchange?

• Ans 1: A bill of Exchange is an instrument in writing containing an unconditional order,signed by the maker ,directing a certain person to pay a certain amount only to or to the order of a certain person or the bearer of the instruments.

Mrs. Javed invests in Saving Scheme Rs. 800 at 6% per annum and Rs. 1,200 at 7% per annum. What is her total amount of profit on these two investments?

• Ans 1:

• Ans 1:

What is financial lease?

• Ans 1: It is long term lease which is non-cancelable contractual coomitment on the part of the part of leases to make a series of payment to the firm that actually own the asset,the losser,for use of the assets.

• Ans 1:

What is Formula of Calculation of Profit?

• Ans 1: The rates of Profit are declared by bank on six month or on annual basic. Profit(simple)=Principle*time*rate/100

Find out the compound markup on Rs. 250,000 for one year @ 14% compounded annually.

• Ans 1:

• Ans 1:

What is Pay Order?

• Ans 1: Pay order is like a cheaque,issued by bank on the request of its customer or in payment of its own expenses or dues,drawn on itself,to pay a specified sum of money to the order of specfied person.Pay Orders are usually issued by the bank on receipt of full amount involved.which means it would not be retruned unpaid due to lack of funds.it is also called banker cheaque of cahseri's cheaque.

• Ans 1:

Mr. Rehman bought a vehicle worth Rs. 7,50,000. He got it insured @ 3.5% for 5 years. How much he paid in total of covering the risks, if he had got a claim of damage worth Rs. 100, 000 during the period?

• Ans 1:

What is meant by Bill of Exchange?

• Ans 1: A bill of Exchange is an instrument in writing containing an unconditional order,signed by the maker ,directing a certain person to pay a certain amount only to or to the order of a certain person or the bearer of the instruments.

What is Commercial Banking?

• Ans 1: A banking business which is related to the accepting of deposits,advancing and undertakes other services for its client is caled commercial banking.

Explain Life Insurance.

• Ans 1: Life insurance is a contract where in a maturity period is agreed between the parties to pay a sim equal is original amount and the profit,which is called bonus.Otherwise it is paid on death or in case of accident etc,whereever comes earlier.A person can also get an insurance policy against old age any disability,the amount of which may range from 10% to 50& of the income of the insurer.

Mr. Javeed brough an insurance policy against his car worth Rs. 8,50,000 @ 4.25% for 3 years. What total amount will he pay as premium, if he had not claimed and damages during the period? Where depreciation is 10%.

• Ans 1:

• Ans 1:

What is Operational False?

• Ans 1: It is short-term lease which is cancelable at the option of the firm leasing the assets.Such leases are commonly used for leasing such items as computer hardware,vahicles and eqiupment etc.

A bank increased the rate of profit from 3.5% to 4% per annum. Find how much more profit Saeed would recieve if he deposited Rs. 6400 in the bank for 6 months at the new profit rate.

• Ans 1:

• Ans 1:

At what annual rate of profit would a sum of Rs.680 will increase to Rs. 850 in 3 years and 4 months?

• Ans 1:

How long would Rs. 1250 to be deposited at 6% per year simple profit to gain Rs. 750 simple profit?

• Ans 1:

What is processing Fee?

• Ans 1: Processing fee or charges are the amount deducted by the bank to process the request of the client for financing of vehicle.

• Ans 1:

Mr. Ahmad Ali insured his house worth Rs. 75,00,000 @ 2% for 4 years, calculate the amount paid in 4 years. While the rate of depreciation is 10% yearly.

• Ans 1:

Mr. Javeed brough an insurance policy against his car worth Rs. 8,50,000 @ 4.25% for 3 years. What total amount will he pay as premium, if he had not claimed and damages during the period? Where depreciation is 10%.

• Ans 1:

What is Pay Order?

• Ans 1: Pay order is like a cheaque,issued by bank on the request of its customer or in payment of its own expenses or dues,drawn on itself,to pay a specified sum of money to the order of specfied person.Pay Orders are usually issued by the bank on receipt of full amount involved.which means it would not be retruned unpaid due to lack of funds.it is also called banker cheaque of cahseri's cheaque.

Mr. Ahmad Ali insured his house worth Rs. 75,00,000 @ 2% for 4 years, calculate the amount paid in 4 years. While the rate of depreciation is 10% yearly.

• Ans 1:

• Ans 1:

What is Debit/ATM Card?

• Ans 1: A debitt card enables the holder to have the purchased directly charged from funds in his acount at a deposit taking bank .ATM card ispayment card issued to a person from activiting automated teller machine-computer based terminal which allows consumer to tranfer withdraw funds.

What is Negotiable Instruments?

• Ans 1: The word "negotiable" means transfer for consideration whereas the word "instrument" means written documents in written which create a right in a favour of some person and which is freely transferable by delivery of edorsment.A negotiable instrument means a promissory note,a bill of exchange or cheaque payable either to the order or bearer of the instrument.

Mr. Rehman bought a vehicle worth Rs. 7,50,000. He got it insured @ 3.5% for 5 years. How much he paid in total of covering the risks, if he had got a claim of damage worth Rs. 100, 000 during the period?

• Ans 1:

Explain Bank Draft.

• Ans 1: An Order to pay money,draw by one branch of a bank upon another branch of the same bank for an amount of money payable to or order of payee or on demand.The bank draft has an important advantage over a cheque as it would not be dishonered for lack of funds since it is funded instument.

A financial institution charges Rs. 55 simple profit on a sum of money which is borrowed for five months. Given that the rate of profit is 12% per annum, find the sum of money.

• Ans 1:

• Ans 1:

• Ans 1: