Simple Interest Questions Practice Question and Answer

Q:

The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:

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  • 1
    Rs. 2.50
    Correct
    Wrong
  • 2
    Rs. 3
    Correct
    Wrong
  • 3
    Rs. 3.75
    Correct
    Wrong
  • 4
    Rs. 4
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 2. "Rs. 3"

Q:

A principal increase by 50 percent in five years at the rate of simple interest. What will be the compound interest for 3 years at Rs 20,000 with the same interest rate?

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  • 1
    5760
    Correct
    Wrong
  • 2
    6620
    Correct
    Wrong
  • 3
    3310
    Correct
    Wrong
  • 4
    2880
    Correct
    Wrong
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Answer : 2. "6620"

Q:

A sum of money lent out at simple interest amounts to ₹720 after 2 years and 1020 after a further period of 5 years. Find the principal. 

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  • 1
    ₹ 1740
    Correct
    Wrong
  • 2
    ₹ 120
    Correct
    Wrong
  • 3
    ₹ 6000
    Correct
    Wrong
  • 4
    ₹ 600
    Correct
    Wrong
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Answer : 4. "₹ 600 "

Q:

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

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  • 1
    1500
    Correct
    Wrong
  • 2
    1835
    Correct
    Wrong
  • 3
    1935
    Correct
    Wrong
  • 4
    1950
    Correct
    Wrong
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Answer : 1. "1500 "
Explanation :

Q:

A sum of ₹ 10,000 is lent partly at 8 % and remaining at 10% per annum. If the yearly interest on the average is 9.2 %, the two parts are 

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  • 1
    ₹ 5000, ₹ 5000
    Correct
    Wrong
  • 2
    ₹ 5500 , ₹ 4500
    Correct
    Wrong
  • 3
    ₹ 4000 , ₹ 6000
    Correct
    Wrong
  • 4
    ₹ 4500, ₹ 5500
    Correct
    Wrong
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Answer : 3. "₹ 4000 , ₹ 6000 "

Q:

If the difference between CI and SI for 3 years at the rate of 10% is Rs 31. Find the principle.

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  • 1
    ₹ 1,000
    Correct
    Wrong
  • 2
    ₹ 1,500
    Correct
    Wrong
  • 3
    ₹2,000
    Correct
    Wrong
  • 4
    ₹ 800
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 1. "₹ 1,000 "

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?

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  • 1
    7 years
    Correct
    Wrong
  • 2
    3 years
    Correct
    Wrong
  • 3
    5 years
    Correct
    Wrong
  • 4
    4 years
    Correct
    Wrong
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Answer : 3. "5 years "
Explanation :

Q:

The simple interest on an amount at the rate of 13.5 p.c.p.a. for 10 years is Rs. 765.45. What is the sum?

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  • 1
    Rs. 567
    Correct
    Wrong
  • 2
    Rs. 885.95
    Correct
    Wrong
  • 3
    Rs. 5670
    Correct
    Wrong
  • 4
    Can't be determined
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 1. "Rs. 567 "

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