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A sum of money is invested at a rate of 6% per annum. If the true discount on th

Practice Questions

Q1
A sum of money is invested at a rate of 6% per annum. If the true discount on the sum for 5 years is $500, what is the sum?
  1. $3000
  2. $3500
  3. $4000
  4. $4500

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A sum of money is invested at a rate of 6% per annum. If the true discount on the sum for 5 years is $500, what is the sum?
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