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Can You Pass This Basic Financial Literacy Test?

Two-thirds of people around the world failed a short test of basic financial concepts.

Tukonews
Created by Tukonews (User Generated Content*)User Generated Content is not posted by anyone affiliated with, or on behalf of, Playbuzz.com.
On Dec 11, 2015
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Risk Diversification: Suppose you have some money. Is it safer to put your money into one business or investment, or to put your money into multiple businesses or investments?

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Inflation: Suppose over the next 10 years the prices of the things you buy double. If your income also doubles, will you be able to buy less than you can buy today, the same as you can buy today, or more than you can buy today?

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Numeracy: Suppose you need to borrow 1000 KSh. Which is the lower amount to pay back: 1050 KSh or 1000 KSh plus three percent?

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Compound interest: Suppose you put money in the bank for two years and the bank agrees to add 15 percent per year to your account. Will the bank add more money to your account the second year than it did the first year, or will it add the same amount of money both years?

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Compound interest II: Suppose you had 1000 KSh in a savings account and the bank adds 10 percent per year to the account. How much money would you have in the account after five years if you did not remove any money from the account?

5
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