Simple Interest Questions Practice Question and Answer

Q:

Sapna borrowed a certain sum of money from Kavita under the following repayment scheme based on simple interest. 8% p.a. for the initial 2 years, 9.5% p.a. for the next 4 years, 11% p.a. for the next 2 years, 12% p.a. after the first 8 years. Find the amount which a sum of Rs. 9000 taken for 12 years becomes at the end of 12 years?

5131 0

  • 1
    Rs. 20160
    Correct
    Wrong
  • 2
    Rs. 22350
    Correct
    Wrong
  • 3
    Rs. 23470
    Correct
    Wrong
  • 4
    Rs. 24567
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 1. "Rs. 20160"

Q:

A person invests money in three different schemes for 6 years, 10 years and 12 years at 10%, 12% and 15% simple interest respectively. At the completion of each scheme, he gets the same interest. The ratio of his investments is-

874 1

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

Q:

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

1756 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"

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Answer : 2. "12.5 %"

Q:

What is the simple interest when Rs. 13000 get the interest Rs. 6,370 in the $$ {3{1\over 2}}$$ year?

1576 0

  • 1
    5 %
    Correct
    Wrong
  • 2
    10 %
    Correct
    Wrong
  • 3
    14 %
    Correct
    Wrong
  • 4
    12%
    Correct
    Wrong
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Answer : 3. "14 %"

Q:

If an amount doubles automatically in 8 years, then what is the interest rate?

816 0

  • 1
    $$ {12{1\over 2}}\%$$
    Correct
    Wrong
  • 2
    $$ {15{1\over 2}}\%$$
    Correct
    Wrong
  • 3
    5 %
    Correct
    Wrong
  • 4
    $$ {5{1\over 2}}\%$$
    Correct
    Wrong
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Answer : 1. "$$ {12{1\over 2}}\%$$"

Q:

A principal increase by 50 percent in five years at the rate of simple interest. What will be the compound interest for 3 years at Rs 20,000 with the same interest rate?

891 0

  • 1
    5760
    Correct
    Wrong
  • 2
    6620
    Correct
    Wrong
  • 3
    3310
    Correct
    Wrong
  • 4
    2880
    Correct
    Wrong
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Answer : 2. "6620"

Q:

The simple interest on an amount at the rate of 7 percent for five years is Rs 700. So how much is the principal?

699 0

  • 1
    1800
    Correct
    Wrong
  • 2
    1600
    Correct
    Wrong
  • 3
    2000
    Correct
    Wrong
  • 4
    2100
    Correct
    Wrong
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Answer : 3. "2000"

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