Simple Interest Practice Question and Answer

Q:

The simple interest on a certain sum of money at the rate of 5 % per annum for 8 years is ₹ 840. Rate of interest for which the same amount of interest can be received on the same sum after 5 years is? 

1507 0

  • 1
    7%
    Correct
    Wrong
  • 2
    8%
    Correct
    Wrong
  • 3
    9%
    Correct
    Wrong
  • 4
    10%
    Correct
    Wrong
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Answer : 2. "8%"
Explanation :

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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? 

1503 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 "

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 - 

1487 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 man borrows some amount at the rate of 12% per annum at simple interest. After 6 years 8 months, he paid 720 as an interest. Find the amount borrowed by him. 

1479 0

  • 1
    ₹ 920
    Correct
    Wrong
  • 2
    ₹ 1620
    Correct
    Wrong
  • 3
    ₹ 900
    Correct
    Wrong
  • 4
    ₹ 960
    Correct
    Wrong
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Answer : 3. "₹ 900 "

Q:

A sum of ₹ 1750 is divided into two parts such that the interests on the first part at 8 % simple interest per annum and that on the other part at 6 % simple interest per annum are equal. The interest on each part (in rupees) is 

1467 0

  • 1
    70
    Correct
    Wrong
  • 2
    40
    Correct
    Wrong
  • 3
    60
    Correct
    Wrong
  • 4
    65
    Correct
    Wrong
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Answer : 3. "60"

Q:

An amount doubles itself in 5 years with simple interest. What is the rate of interest per year?

1465 0

  • 1
    20%
    Correct
    Wrong
  • 2
    35 %
    Correct
    Wrong
  • 3
    25 %
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 1. "20%"

Q: In what time will the simple interest be $${2\over 5}$$ of the principle at 8 percent per annum ? 1463 0

  • 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:

If certain sum, at simple interest turns into thrice of actual amount in 4 years. Find out time to become the amount thirteen times of initial amount? 

1455 0

  • 1
    28 yrs
    Correct
    Wrong
  • 2
    26 yrs
    Correct
    Wrong
  • 3
    20 yrs
    Correct
    Wrong
  • 4
    24 yrs
    Correct
    Wrong
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Answer : 4. "24 yrs"

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