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A sum of money is invested at a rate of 8% per annum. If the true discount on th

Practice Questions

Q1
A sum of money is invested at a rate of 8% per annum. If the true discount on the sum for 5 years is $400, what is the sum?
  1. $2000
  2. $2500
  3. $3000
  4. $3500

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A sum of money is invested at a rate of 8% per annum. If the true discount on the sum for 5 years is $400, what is the sum?
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