Simple Interest Practice Question and Answer

Q:

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

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  • 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:

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 

1476 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:

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.

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  • 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:

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?

1436 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?

1385 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 %"

Q:

The difference between the simple interest between the simple interest received from two different sources on ₹ 1500 for 3 years is ₹ 13.50. The difference between their rate of interest is - 

1359 0

  • 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 % "

Q:

A person invested Rs 28000 at the rate of 8% per annum simple interest and Rs 26000 at the rate of 10% per annum compounded Interest compounded annually. What is the difference in the interest earned from two investments at the end of 3 years? 

1359 0

  • 1
    Rs 3310
    Correct
    Wrong
  • 2
    Rs 2418
    Correct
    Wrong
  • 3
    Rs 1886
    Correct
    Wrong
  • 4
    Rs 1284
    Correct
    Wrong
  • 5
    Rs 960
    Correct
    Wrong
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Answer : 3. "Rs 1886 "

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