Simple Interest Practice Question and Answer

Q:

What sum will give Rs. 488 as the difference between simple interest and compound interest at 10% in years compounded half yearly ?

1955 0

  • 1
    Rs. 80,000
    Correct
    Wrong
  • 2
    Rs. 72,000
    Correct
    Wrong
  • 3
    Rs. 64,000
    Correct
    Wrong
  • 4
    Rs. 68,000
    Correct
    Wrong
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Answer : 3. "Rs. 64,000"

Q:

How much interest will be received in 2.5 years at the rate of 4 percent simple interest of Rs. 3,680?

1944 0

  • 1
    Rs. 72
    Correct
    Wrong
  • 2
    Rs. 368
    Correct
    Wrong
  • 3
    Rs. 92
    Correct
    Wrong
  • 4
    Rs. 455
    Correct
    Wrong
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Answer : 2. "Rs. 368"

Q:

 ₹ 800 becomes ₹ 956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4 %, what amount will ₹ 800 become in 3 years? 

1914 0

  • 1
    ₹ 1020.80
    Correct
    Wrong
  • 2
    ₹ 1025
    Correct
    Wrong
  • 3
    ₹ 1052
    Correct
    Wrong
  • 4
    ₹ 1050
    Correct
    Wrong
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Answer : 3. "₹ 1052 "
Explanation :

Q:

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

1863 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"

Q: The simple interest on a sum of money is of the principal and the number of years is equal to the rate percent per annum. The rate per annum is : 1846 0

  • 1
    5%
    Correct
    Wrong
  • 2
    Correct
    Wrong
  • 3
    6%
    Correct
    Wrong
  • 4
    Correct
    Wrong
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Answer : 2. ""

Q:

Some amount out of Rs.7000 was lent at 6% per annum and the remaining at 4% per annum. If the total simple interest from both the fractions in 5 year was Rs.1600, find the sum lent at 6% per annum.

1842 0

  • 1
    Rs. 1200
    Correct
    Wrong
  • 2
    Rs. 1500
    Correct
    Wrong
  • 3
    Rs. 1800
    Correct
    Wrong
  • 4
    Rs. 2000
    Correct
    Wrong
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Answer : 4. "Rs. 2000"

Q:

Mr. Dutta desired to deposit his retirement benefit of ₹3 lacs partly to a post office and partly to a bank at 10 % and 6 %  simple interests respectively. If his monthly interest income was ₹ 2000, then the difference of his deposits in the post office and in the bank was -

1808 0

  • 1
    ₹ 40,000
    Correct
    Wrong
  • 2
    ₹ 50,000
    Correct
    Wrong
  • 3
    ₹ 1,00,000
    Correct
    Wrong
  • 4
    ₹ Nil
    Correct
    Wrong
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Answer : 4. "₹ Nil "

Q:

A sum of money was lent at simple interest at certain rate for 3 years. Had it been lent at 2.5 % per annum higher rate, it would have fetched ₹ 540 more. The money lent was 

1791 0

  • 1
    ₹ 6840
    Correct
    Wrong
  • 2
    ₹ 7200
    Correct
    Wrong
  • 3
    ₹ 6400
    Correct
    Wrong
  • 4
    ₹ 6472
    Correct
    Wrong
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Answer : 2. "₹ 7200"

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