Simple Interest Practice Question and Answer

Q:

If the simple interest for 6 years be equal to 30% of the principal, it will be equal to the principal after 

1149 0

  • 1
    20 years
    Correct
    Wrong
  • 2
    30 years
    Correct
    Wrong
  • 3
    10 years
    Correct
    Wrong
  • 4
    22 years
    Correct
    Wrong
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Answer : 1. "20 years "

Q:

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

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  • 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%"

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:

A lends 2500 to B and a certain sum to C at the same time at 7% annual simple interest. If after 4 years, A altogether receives 1120 as interest from B and C, the sum lent to C is-

1123 0

  • 1
    700
    Correct
    Wrong
  • 2
    6500
    Correct
    Wrong
  • 3
    4000
    Correct
    Wrong
  • 4
    1500
    Correct
    Wrong
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Answer : 4. "1500"
Explanation :

Q:

A sum triple itself in 9 years at simple interest. Find the rate of interest per annum is.

1121 0

  • 1
    $$38{2\over 9} \% $$
    Correct
    Wrong
  • 2
    $$33{1\over 3} \% $$
    Correct
    Wrong
  • 3
    $$27{1\over 9} \% $$
    Correct
    Wrong
  • 4
    $$22{2\over 9} \% $$
    Correct
    Wrong
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Answer : 4. "$$22{2\over 9} \% $$"

Q:

The simple interest on a sum  of money is $$8\over 25$$ of the sum. If the number of years is numerically half the rate percent per annum, then the rate percent per annum is 

1108 0

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

Q:

What sum will amount to ₹ 7000 in 5 years at $$3{1\over3}\%$$ simple interest ? 

1099 0

  • 1
    6000
    Correct
    Wrong
  • 2
    5000
    Correct
    Wrong
  • 3
    6300
    Correct
    Wrong
  • 4
    6500
    Correct
    Wrong
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Answer : 1. "6000 "
Explanation :

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Answer : 1. "Rs. 8000 "

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