Simple Interest Questions and Answers

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Simple Interest Questions and Answers

Welcome to our Simple Interest Questions and Answers blog! If you find yourself grappling with the concepts of simple interest or looking to sharpen your skills in this fundamental area of finance, you've come to the right place. Our Simple Interest Questions and Answers blog is designed to cater to both beginners and individuals seeking advanced insights into the world of simple interest.

Simple Interest Questions

Here in this article Simple Interest Questions and Answers, we provide a diverse range of questions related to simple interest, each accompanied by clear and concise answers. Whether you're a student aiming to ace your maths exams, a professional in the financial industry, or someone simply interested in understanding how interest works, our blog is your go-to resource.

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Simple Interest Questions and Answers

Q :  

A sum of money amounts to 5,200 in 5 years and to 5,680 in 7 years at simple interest. The rate of interest per annum is-

(A) 3%

(B) 4%

(C) 5%

(D) 6%


Correct Answer : D
Explanation :


Q :  

In how many years a sum of Rs. 3000 will yield an interest of Rs. 1080 at 12% per annum simple interest?

(A) 4 years

(B) 3 years

(C) 5 years

(D) 6 years


Correct Answer : B
Explanation :


Q :  

What annual instalment will discharge a debt of ₹ 6450 due in 4 years at 5% simple interest?

(A) 1500

(B) 1835

(C) 1935

(D) 1950


Correct Answer : A
Explanation :


Q :  

The sum of money that will yield Rs. 60 as simple interest at the rate of 6% per annum in 5 years is-

(A) 200

(B) 225

(C) 175

(D) 300


Correct Answer : A
Explanation :


Q :  

Alipta got some amount of money from her father. In how many years will the ratio of the money and the interest obtained from it be 10:3 at the rate of 6% simple interest per annum?

(A) 7 years

(B) 3 years

(C) 5 years

(D) 4 years


Correct Answer : C
Explanation :


Q :  

 ₹ 800 becomes ₹ 956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4 %, what amount will ₹ 800 become in 3 years? 

(A) ₹ 1020.80

(B) ₹ 1025

(C) ₹ 1052

(D) ₹ 1050


Correct Answer : C
Explanation :


Q :  

A sum of money amounts to 5,200 in 5 years and to 5,680 in 7 years at simple interest. The rate of interest per annum is-

(A) 3%

(B) 4%

(C) 5%

(D) 6%


Correct Answer : D
Explanation :


Q :  

₹ 1,000 is invested at 5% per annum simple interest. If the interest is added to the Aprincipal after every 10 years, the amount will become 2,000 after

(A) 15 years

(B) 18 years

(C) 20 years

(D) None of these


Correct Answer : D
Explanation :


Q :  

A sum of money at simple interest amounts to ₹ 1,012 in $$2{1\over2}\%$$ years and to ₹ 1,067.20 in 4 years. The rate of interest per annum is:

(A) 4%

(B) 5%

(C) 2.5%

(D) 3%


Correct Answer : A
Explanation :


Q :  

What sum will amount to ₹ 7000 in 5 years at $$3{1\over3}\%$$ simple interest ? 

(A) 6000

(B) 5000

(C) 6300

(D) 6500


Correct Answer : A
Explanation :


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