Nursing Elites

1. If an investment earns 5% interest annually, how much interest will it earn in 1 year on a principal of $1,000?

• A. $40
• B. $50
• C. $60
• D. $55

Correct answer: B

Rationale: The correct answer is B: $50. To calculate the interest earned on an investment with a 5% interest rate on a principal of $1,000, you simply multiply the principal amount by the interest rate. 5% of $1,000 is $50. Therefore, the investment will earn $50 in interest in 1 year. Choice A, $40, is incorrect because it represents 4% interest instead of 5%. Choice C, $60, is incorrect because it overestimates the interest earned. Choice D, $55, is incorrect as it does not accurately reflect the 5% interest on the principal amount.

2. What is 80% of $500?

• A. $425
• B. $450
• C. $350
• D. $400

Correct answer: D

Rationale: To find 80% of $500, you multiply 0.8 by 500. Therefore, 0.8 x 500 = $400. This means that option D, $400, is the correct answer. Option A, $425, is incorrect because it is higher than the calculated value. Option B, $450, is also higher than the correct answer. Option C, $350, is lower than the calculated value. Hence, the correct answer is D, $400.

3. Convert the percentage to a decimal: 38%

• A. 3.8
• B. 0.38
• C. 0.038
• D. 38.0

Correct answer: B

Rationale: To convert a percentage to a decimal, you divide the percentage by 100. Therefore, 38% as a decimal is 0.38 (38 ÷ 100 = 0.38). Choice A, 3.8, is incorrect as it is equivalent to 380%. Choice C, 0.038, is incorrect as it represents 3.8%. Choice D, 38.0, is incorrect as it is still in percentage form.

4. 7 is divisible by which of the following numbers?

• A. 2 only
• B. 3 only
• C. 1 and 7 only
• D. 2, 3, and 7

Correct answer: D

Rationale: Rationale: 1. 7 is divisible by 1 because every number is divisible by 1. 2. 7 is divisible by 7 because any number is divisible by itself. 3. 7 is not divisible by 2 because 7 is an odd number and not divisible by 2. 4. 7 is not divisible by 3 because the sum of the digits of 7 (7) is not divisible by 3. Therefore, 7 is divisible by 1, 7, and itself (7), making the correct answer D) 2, 3, and 7.

5. How many digits are in the Hindu-Arabic numeral system?

• A. Two
• B. Ten
• C. Twelve
• D. Twenty

Correct answer: B

Rationale: The Hindu-Arabic numeral system consists of ten digits: 0, 1, 2, 3, 4, 5, 6, 7, 8, and 9. These ten digits are used as the fundamental symbols to represent numbers in this numerical system. Choice A, 'Two,' is incorrect as there are more than two digits in the system. Choice C, 'Twelve,' is incorrect as it exceeds the total number of digits in the system. Choice D, 'Twenty,' is incorrect as it overestimates the number of digits present in the Hindu-Arabic numeral system.

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