Simple Interest Questions Practice Question and Answer

Q:

If the simple interest on ₹ 1 for 1 month is 1 paisa, then the rate percent per annum will be 

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  • 1
    12%
    Correct
    Wrong
  • 2
    6 %
    Correct
    Wrong
  • 3
    10 %
    Correct
    Wrong
  • 4
    8 %
    Correct
    Wrong
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Answer : 1. "12% "

Q:

A person deposited ₹15,600 in a fixed deposit at 10% per annum simple interest. After every second year he adds his interest earned to the principal. The interest at the end of 4 years is:

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  • 1
    ₹6,655
    Correct
    Wrong
  • 2
    ₹3,744
    Correct
    Wrong
  • 3
    ₹6,864
    Correct
    Wrong
  • 4
    ₹3,975
    Correct
    Wrong
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Answer : 3. "₹6,864"

Q:

In what time will the annual simple interest rate at $$ {6{1\over4}{\%}}$$ , 72 rupees becomes 81 rupees?

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  • 1
    2 year
    Correct
    Wrong
  • 2
    2 year 6 month
    Correct
    Wrong
  • 3
    3 year
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 1. " 2 year"

Q:

A sum of money lent at simple interest amounts to ₹ 880 in 2 years and to ₹ 920 in 3 years. The sum of money (in rupees) is

1418 0

  • 1
    784
    Correct
    Wrong
  • 2
    800
    Correct
    Wrong
  • 3
    700
    Correct
    Wrong
  • 4
    760
    Correct
    Wrong
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Answer : 2. "800"
Explanation :

Q:

A property fetches a net annual income of ₹1000 deducting all outgoings. The capitalized value of the property for the rate of interest 6% will be (in ₹) -

1404 0

  • 1
    ₹16667.00
    Correct
    Wrong
  • 2
    ₹15003.00
    Correct
    Wrong
  • 3
    ₹18000.00
    Correct
    Wrong
  • 4
    None of the above
    Correct
    Wrong
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Answer : 1. "₹16667.00"

Q:

A sum of money doubles itself in 7 years at simple interest. In how much time will it become 5 times of itself?

1399 0

  • 1
    21 years
    Correct
    Wrong
  • 2
    25 years
    Correct
    Wrong
  • 3
    28 years
    Correct
    Wrong
  • 4
    23 years
    Correct
    Wrong
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Answer : 3. "28 years"

Q:

The simple interest on an amount at the rate of 7 percent for five years is Rs 700. So how much is the principal?

1392 0

  • 1
    1800
    Correct
    Wrong
  • 2
    1600
    Correct
    Wrong
  • 3
    2000
    Correct
    Wrong
  • 4
    2100
    Correct
    Wrong
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Answer : 3. "2000"

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Answer : 3. "Rs. 20160"

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