Simple Interest Practice Question and Answer

Q:

The principal which gives ₹ 1 interest per day at a rate of 5 % simple interest per annum is 

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  • 1
    ₹ 5000
    Correct
    Wrong
  • 2
    ₹35500
    Correct
    Wrong
  • 3
    ₹ 7300
    Correct
    Wrong
  • 4
    ₹3650
    Correct
    Wrong
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Answer : 3. "₹ 7300 "

Q:

What equal installment of annual payment will discharge a debt which is due as ₹ 848 at the end of 4 years at 4 % per annum simple interest? 

1215 0

  • 1
    ₹ 250
    Correct
    Wrong
  • 2
    ₹ 225
    Correct
    Wrong
  • 3
    ₹ 212
    Correct
    Wrong
  • 4
    ₹ 200
    Correct
    Wrong
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Answer : 1. "₹ 250 "

Q:

A sum of money becomes 3 times in 12 years. In how many years it will become 5 times at the same rate of simple interest?

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  • 1
    20 years
    Correct
    Wrong
  • 2
    16 years
    Correct
    Wrong
  • 3
    24 years
    Correct
    Wrong
  • 4
    30 years
    Correct
    Wrong
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Answer : 3. "24 years "

Q:

Rs. 1,080 invested for 3 months gave an interest of Rs. 27. The simple rate of interest per annum was :

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  • 1
    2.5%
    Correct
    Wrong
  • 2
    5%
    Correct
    Wrong
  • 3
    7.5%
    Correct
    Wrong
  • 4
    10%
    Correct
    Wrong
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Answer : 4. "10%"

Q:

The difference of simple interest from two banks on ₹8,000 in 3 years is ₹800. If the rate of interest per annum in two banks are R1 and R2, then what is the value of R1 - R2? (Where R1 > R2)

1207 0

  • 1
    $$ 5{1\over 3}\% $$
    Correct
    Wrong
  • 2
    $$ 3{1\over 3}\% $$
    Correct
    Wrong
  • 3
    $$ 1{1\over 3}\% $$
    Correct
    Wrong
  • 4
    $$ 2{1\over 3}\% $$
    Correct
    Wrong
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Answer : 3. " $$ 1{1\over 3}\% $$"

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Answer : 2. "500"

Q:

If the simple interest on a certain sum of money for 2 years in one fifth of the Principal, then find rate of interest per annum. 

1185 0

  • 1
    25%
    Correct
    Wrong
  • 2
    15%
    Correct
    Wrong
  • 3
    10%
    Correct
    Wrong
  • 4
    20%
    Correct
    Wrong
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Answer : 3. "10% "

Q:

Any money at the rate of simple interest becomes Rs 1143 in 3 years and Rs 1305 in 5 years Find the rate of principal and interest.

1185 0

  • 1
    960 and 5 %
    Correct
    Wrong
  • 2
    900 and 9%
    Correct
    Wrong
  • 3
    850 and 8 %
    Correct
    Wrong
  • 4
    800 and 4 %
    Correct
    Wrong
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Answer : 2. "900 and 9%"

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