Simple Interest Practice Question and Answer

Q:

A certain sum becomes Rs. 1020 in 5 years and Rs. 1200 in 8 years at simple interest. What is the value of principal? 

1662 0

  • 1
    700
    Correct
    Wrong
  • 2
    720
    Correct
    Wrong
  • 3
    820
    Correct
    Wrong
  • 4
    780
    Correct
    Wrong
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Answer : 2. "720"

Q:

The simple interest on an amount of 2,800 at the end of 3 years is Rs 420. What will be the simple interest at Rs 3200 for the same rate and for the same period?

1657 0

  • 1
    Rs .480
    Correct
    Wrong
  • 2
    Rs. 560
    Correct
    Wrong
  • 3
    Rs. 440
    Correct
    Wrong
  • 4
    Rs. 640
    Correct
    Wrong
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Answer : 1. "Rs .480"

Q:

Mohit borrowed Rs. 22000 at 5% simple interest repayable in 5 equal installments. What will be the annual installment payable by him?

1649 0

  • 1
    Rs 4800
    Correct
    Wrong
  • 2
    Rs 5500
    Correct
    Wrong
  • 3
    Rs 4600
    Correct
    Wrong
  • 4
    Rs 500
    Correct
    Wrong
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Answer : 3. "Rs 4600"

Q:

How much simple interest will be received in 10 years on the amount of Rs. 1600? If the rate of interest is 7.25 percent per annum.

1610 0

  • 1
    Rs. 1180
    Correct
    Wrong
  • 2
    Rs. 1160
    Correct
    Wrong
  • 3
    Rs. 1240
    Correct
    Wrong
  • 4
    Rs. 1220
    Correct
    Wrong
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Answer : 2. "Rs. 1160"

Q:

Equal sum of money are lent to X and Y at 7.5 % per annum for a period of 4 years and 5 years respectively. If the difference in interest, paid by them was 150, the sum lent to each was 

1582 0

  • 1
    ₹ 2000
    Correct
    Wrong
  • 2
    ₹ 3000
    Correct
    Wrong
  • 3
    ₹ 500
    Correct
    Wrong
  • 4
    ₹ 1000
    Correct
    Wrong
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Answer : 1. "₹ 2000 "

Q:

If the instalments are paid at the end of every year, what annual payment will discharge a debt of Rs. 7,200 due in 3 years at 20% per annum simple interest?

1545 0

  • 1
    Rs. 1500
    Correct
    Wrong
  • 2
    Rs. 1800
    Correct
    Wrong
  • 3
    Rs. 2000
    Correct
    Wrong
  • 4
    Rs. 2250
    Correct
    Wrong
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Answer : 3. "Rs. 2000"

Q:

In how many years will Rs 4600 amount to Rs 5428 at 3 % per annum simple interest?

1518 0

  • 1
    3
    Correct
    Wrong
  • 2
    5
    Correct
    Wrong
  • 3
    6
    Correct
    Wrong
  • 4
    4
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 3. "6"

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Answer : 2. "12.5 %"

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