Simple Interest Practice Question and Answer

Q:

A sum of ₹ 3000 yields an interest of ₹ 1080 at 12% per annum simple interest in how many years ?

1355 0

  • 1
    4 Years
    Correct
    Wrong
  • 2
    3 Years
    Correct
    Wrong
  • 3
    5 years
    Correct
    Wrong
  • 4
    2½ Years
    Correct
    Wrong
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Answer : 2. "3 Years"

Q:

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

1352 0

  • 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:

At what simple rate of interest a sum is double in 8 years?

1349 1

  • 1
    11.0 %
    Correct
    Wrong
  • 2
    12.5 %
    Correct
    Wrong
  • 3
    12 %
    Correct
    Wrong
  • 4
    13.5 %
    Correct
    Wrong
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Answer : 2. "12.5 %"

Q:

A certain sum doubles in 7 years at simple interest. The same sum under the same interest rate will become 4 times in how many years.:

1341 0

  • 1
    14
    Correct
    Wrong
  • 2
    28
    Correct
    Wrong
  • 3
    21
    Correct
    Wrong
  • 4
    10
    Correct
    Wrong
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Answer : 3. "21 "

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? 

1336 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:

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

1333 0

  • 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:

A sum of Rs.1600 gives a simple interest of Rs.252 in 2 years and 3 months. The rate of interest per annum is 

1325 0

  • 1
    $$ 5{1\over2}$$
    Correct
    Wrong
  • 2
    8%
    Correct
    Wrong
  • 3
    7%
    Correct
    Wrong
  • 4
    6%
    Correct
    Wrong
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Answer : 3. "7% "

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?

1309 0

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

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