Simple Interest Practice Question and Answer

Q:

If the difference of interest of two banks of Rs 500 is Rs 2.50, find the difference between their rates.

1558 0

  • 1
    0.35 %
    Correct
    Wrong
  • 2
    0.25 %
    Correct
    Wrong
  • 3
    0.45 %
    Correct
    Wrong
  • 4
    0.55 %
    Correct
    Wrong
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Answer : 2. "0.25 %"

Q:

The simple interest on a certain sum of the money at 4 % per annum for 4 years is Rs.80 more than the interest on the same sum for 3 years at 5 % per annum. Find the sum.

1555 0

  • 1
    Rs. 6,000
    Correct
    Wrong
  • 2
    Rs. 8000
    Correct
    Wrong
  • 3
    Rs. 10000
    Correct
    Wrong
  • 4
    Rs. 12000
    Correct
    Wrong
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Answer : 2. "Rs. 8000"

Q:

An amount doubles itself in 5 years simple interest. What is the rate of interest per year?

1537 0

  • 1
    20%
    Correct
    Wrong
  • 2
    35 %
    Correct
    Wrong
  • 3
    25 %
    Correct
    Wrong
  • 4
    Cannot be determined
    Correct
    Wrong
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Answer : 1. "20%"

Q:

A person invests money in three different schemes for 6 years, 10 years and 12 years at 10%, 12% and 15% simple interest respectively. At the completion of each scheme, he gets the same interest. The ratio of his investments is-

1533 1

  • 1
    6 : 3 : 2
    Correct
    Wrong
  • 2
    2 : 3 :4
    Correct
    Wrong
  • 3
    3 : 4 : 6
    Correct
    Wrong
  • 4
    3 : 4 :2
    Correct
    Wrong
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Answer : 2. "2 : 3 :4"

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? 

1525 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 :

1516 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 certain sum of money lent out at simple interest amounts to Rs. 2400 in 4 years and Rs. 3000 in 6 years. Find the rate of interest per annum?

1507 0

  • 1
    20 %
    Correct
    Wrong
  • 2
    18 %
    Correct
    Wrong
  • 3
    25 %
    Correct
    Wrong
  • 4
    15 %
    Correct
    Wrong
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Answer : 3. "25 %"

Q:

A sum of money was invested at a certain rate of simple interest for 2 years. Had it been invested at 1% higher rate, it would have fetched Rs.192 more interest. The sum of money is-

1503 1

  • 1
    Rs.9000
    Correct
    Wrong
  • 2
    Rs.9600
    Correct
    Wrong
  • 3
    Rs.7200
    Correct
    Wrong
  • 4
    Rs.8400
    Correct
    Wrong
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Answer : 2. "Rs.9600"

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