Simple Interest Practice Question and Answer

Q:

In what time will the simple interest be 2/5 of the principal at 8 percent per annum? 

2239 0

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

Q:

A sum of money becomes triple itself in 16 years. In how many years will it become 5 times at the same rate?

2239 0

  • 1
    15
    Correct
    Wrong
  • 2
    32
    Correct
    Wrong
  • 3
    27
    Correct
    Wrong
  • 4
    30
    Correct
    Wrong
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Answer : 2. "32"

Q:

What sum will give Rs. 488 as the difference between simple interest and compound interest at 10% in $$ 1{1\over2}$$ years compounded half yearly ?

2203 0

  • 1
    Rs. 80,000
    Correct
    Wrong
  • 2
    Rs. 72,000
    Correct
    Wrong
  • 3
    Rs. 64,000
    Correct
    Wrong
  • 4
    Rs. 68,000
    Correct
    Wrong
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Answer : 3. "Rs. 64,000"

Q:

How much interest will be received in 2.5 years at the rate of 4 percent simple interest of Rs. 3,680?

2172 0

  • 1
    Rs. 72
    Correct
    Wrong
  • 2
    Rs. 368
    Correct
    Wrong
  • 3
    Rs. 92
    Correct
    Wrong
  • 4
    Rs. 455
    Correct
    Wrong
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Answer : 2. "Rs. 368"

Q:

Some amount out of Rs.7000 was lent at 6% per annum and the remaining at 4% per annum. If the total simple interest from both the fractions in 5 year was Rs.1600, find the sum lent at 6% per annum.

2160 0

  • 1
    Rs. 1200
    Correct
    Wrong
  • 2
    Rs. 1500
    Correct
    Wrong
  • 3
    Rs. 1800
    Correct
    Wrong
  • 4
    Rs. 2000
    Correct
    Wrong
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Answer : 4. "Rs. 2000"

Q:

The annual payment of Rs.1000 in  5 years at 4% per annum simple interest will discharge a debt of

2114 1

  • 1
    Rs.5440
    Correct
    Wrong
  • 2
    Rs.5400
    Correct
    Wrong
  • 3
    Rs.5600
    Correct
    Wrong
  • 4
    Rs.5800
    Correct
    Wrong
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Answer : 2. "Rs.5400"

Q:

Mr. Dutta desired to deposit his retirement benefit of ₹3 lacs partly to a post office and partly to a bank at 10 % and 6 %  simple interests respectively. If his monthly interest income was ₹ 2000, then the difference of his deposits in the post office and in the bank was -

2085 0

  • 1
    ₹ 40,000
    Correct
    Wrong
  • 2
    ₹ 50,000
    Correct
    Wrong
  • 3
    ₹ 1,00,000
    Correct
    Wrong
  • 4
    ₹ Nil
    Correct
    Wrong
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Answer : 4. "₹ Nil "

Q: The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. The difference between their rates of interest is : 2051 1

  • 1
    0.1%
    Correct
    Wrong
  • 2
    0.2%
    Correct
    Wrong
  • 3
    0.3%
    Correct
    Wrong
  • 4
    0.4%
    Correct
    Wrong
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Answer : 3. "0.3%"

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