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 Q 1: Using the normal convention, simple interest T = 100I/PR.FalseTrue Q 2: If the selling price is more than the cost price there is ____.no gainlossprofit Q 3: Peter can do 1/49th of a piece of work in a day, then he can do the the complete work in ____ days.491/49 Q 4: Peter borrowed \$7500 at 16% compound interest for two years. The amount he would pay at the end of the second year would be _______.\$10,092\$9,535\$11,345 Q 5: If the selling price is less than the cost price there is ______.Answer: Q 6: Amount = Principal + ________.TimeRateInterest Q 7: Matt and John started a business with capitals of \$3000, and \$5000 respectively and made a profit of \$1880, then Matt's share of the profit would be _____.\$800\$705\$930 Q 8: The interest agreed to be paid per year as a percentage is called the _____.amountprincipalrate Question 9: This question is available to subscribers only! Question 10: This question is available to subscribers only!