Simple Interest Practice Question and Answer

Q:

In what time will the simple interest be $$ {2\over5} $$ of the principal at 8% per annum? 

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

Q:

A sum of money at simple interest amount to Rs.4800 in 3 years and Rs.5600 in the 5 years. The sum is

1471 0

  • 1
    Rs. 3,400
    Correct
    Wrong
  • 2
    Rs. 3,600
    Correct
    Wrong
  • 3
    Rs. 3,200
    Correct
    Wrong
  • 4
    Rs. 3,000
    Correct
    Wrong
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Answer : 2. "Rs. 3,600"

Q:

Which amount will be Rs 520 in 5 years with simple interest and Rs 568 in 7 years?

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  • 1
    400
    Correct
    Wrong
  • 2
    120
    Correct
    Wrong
  • 3
    310
    Correct
    Wrong
  • 4
    220
    Correct
    Wrong
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Answer : 1. "400"

Q:

The total sum of amounts of A and B at the end of 4 years and 2 years respectively on the same principal is Rs. 20,020. If A is charged Simple interest at the rate 10% and B is charged Compound interest at the rate 5%. The principal is?

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  • 1
    Rs. 5,000
    Correct
    Wrong
  • 2
    Rs. 7,500
    Correct
    Wrong
  • 3
    Rs. 2,500
    Correct
    Wrong
  • 4
    Rs. 8,000
    Correct
    Wrong
  • 5
    Rs. 6,000
    Correct
    Wrong
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Answer : 4. "Rs. 8,000"

Q:

The difference between the compound interest and simple interest of a certain sum of amount is rupees 256.40 for 4 years at 10% rate per annum. Find the sum of money?

1463 0

  • 1
    4800
    Correct
    Wrong
  • 2
    6000
    Correct
    Wrong
  • 3
    4000
    Correct
    Wrong
  • 4
    4500
    Correct
    Wrong
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Answer : 3. "4000"

Q:

A sum of money at double the rate of simple interest doubles itself in 10 years. In how much time will that amount be triple of itself?

1459 0

  • 1
    15 years
    Correct
    Wrong
  • 2
    18 years
    Correct
    Wrong
  • 3
    20 years
    Correct
    Wrong
  • 4
    30 years
    Correct
    Wrong
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Answer : 3. "20 years"

Q:

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

1449 0

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

Q:

The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half yearly is: 

1445 0

  • 1
    6.06%
    Correct
    Wrong
  • 2
    6.07%
    Correct
    Wrong
  • 3
    6.08%
    Correct
    Wrong
  • 4
    6.09%
    Correct
    Wrong
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Answer : 4. "6.09%"

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