Simple Interest Practice Question and Answer

Q:

A person borrows 5,000 for 2 years at 4 % per annum simple interest. He immediately lends it to another person at $$6{1\over 4}\%  $$ per annum simple interest for 2 years. His gain in this transaction is 

945 1

  • 1
    ₹ 225
    Correct
    Wrong
  • 2
    ₹ 150
    Correct
    Wrong
  • 3
    ₹ 112.50
    Correct
    Wrong
  • 4
    ₹ 450
    Correct
    Wrong
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Answer : 1. "₹ 225 "
Explanation :

Q:

In what time will the annual simple interest rate at $$ {6{1\over4}{\%}}$$ , 72 rupees becomes 81 rupees?

937 0

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

Q:

A sum of Rs.1600 gives a simple interest of Rs.252 in 2 years and 3 months. The rate of interest per annum is 

921 0

  • 1
    $$ 5{1\over2}$$
    Correct
    Wrong
  • 2
    8%
    Correct
    Wrong
  • 3
    7%
    Correct
    Wrong
  • 4
    6%
    Correct
    Wrong
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Answer : 3. "7% "

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Answer : 2. "500"

Q:

A sum of money lent out at simple interest amounts to ₹720 after 2 years and 1020 after a further period of 5 years. Find the principal. 

917 0

  • 1
    ₹ 1740
    Correct
    Wrong
  • 2
    ₹ 120
    Correct
    Wrong
  • 3
    ₹ 6000
    Correct
    Wrong
  • 4
    ₹ 600
    Correct
    Wrong
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Answer : 4. "₹ 600 "

Q:

What equal installment of annual payment will discharge a debt which is due as ₹ 848 at the end of 4 years at 4 % per annum simple interest? 

916 0

  • 1
    ₹ 250
    Correct
    Wrong
  • 2
    ₹ 225
    Correct
    Wrong
  • 3
    ₹ 212
    Correct
    Wrong
  • 4
    ₹ 200
    Correct
    Wrong
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Answer : 1. "₹ 250 "

Q:

Rs. 1,080 invested for 3 months gave an interest of Rs. 27. The simple rate of interest per annum was :

912 0

  • 1
    2.5%
    Correct
    Wrong
  • 2
    5%
    Correct
    Wrong
  • 3
    7.5%
    Correct
    Wrong
  • 4
    10%
    Correct
    Wrong
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Answer : 4. "10%"

Q:

The principal which gives ₹ 1 interest per day at a rate of 5 % simple interest per annum is 

897 0

  • 1
    ₹ 5000
    Correct
    Wrong
  • 2
    ₹35500
    Correct
    Wrong
  • 3
    ₹ 7300
    Correct
    Wrong
  • 4
    ₹3650
    Correct
    Wrong
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Answer : 3. "₹ 7300 "

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