Simple Interest Practice Question and Answer

Q:

At what rate per cent per annum will a sum of money double in 8 years?

439 0

  • 1
    12.5%
    Correct
    Wrong
  • 2
    13.5%
    Correct
    Wrong
  • 3
    11.5%
    Correct
    Wrong
  • 4
    14.5%
    Correct
    Wrong
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Answer : 1. "12.5%"

Q:

The difference between the simple interest and the compound interest on a certain amount at 5% for two years is 25, what is the amount?

553 0

  • 1
    8000
    Correct
    Wrong
  • 2
    9000
    Correct
    Wrong
  • 3
    10,000
    Correct
    Wrong
  • 4
    15,000
    Correct
    Wrong
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Answer : 3. "10,000 "

Q: A sum of money triples itself in 8 years simple interest. Find the rate of percent per annum? 1528 1

  • 1
    30%
    Correct
    Wrong
  • 2
    25%
    Correct
    Wrong
  • 3
    22%
    Correct
    Wrong
  • 4
    18%
    Correct
    Wrong
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Answer : 2. "25%"

Q:

The amount ₹2,100 became ₹ 2,352 in 2 years at simple interest. If the interest rate is decreased by 1%, what is the new interest?

365 0

  • 1
    ₹210
    Correct
    Wrong
  • 2
    ₹220
    Correct
    Wrong
  • 3
    ₹942
    Correct
    Wrong
  • 4
    ₹242
    Correct
    Wrong
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Answer : 1. "₹210"

Q:

In what time will ₹8000, at 3% per annum, produce the same interest as ₹6000 does in 5 years at 4% simple interest is? 

354 0

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

Q:

Atm of ₹2.400. amounts to ₹3,264 in 4 years at a certain rate of simple interest. If the rate of interest is increased by 1% the same sum in the same time would amount to-

362 0

  • 1
    ₹3288
    Correct
    Wrong
  • 2
    ₹3340
    Correct
    Wrong
  • 3
    ₹3312
    Correct
    Wrong
  • 4
    ₹3360
    Correct
    Wrong
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Answer : 4. "₹3360"

Q:

A sum of ₹ 800 amounts to ₹ 920 in 3 years at the simple interest rate. If the rate is increased by 3 % p.a., what will be the sum amount to in the same period? 

959 0

  • 1
    ₹ 942
    Correct
    Wrong
  • 2
    ₹ 982
    Correct
    Wrong
  • 3
    ₹ 992
    Correct
    Wrong
  • 4
    ₹ 962
    Correct
    Wrong
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Answer : 3. "₹ 992"

Q:

A person invests money in three different schemes 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 investment is

629 0

  • 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 : 1. "6: 3: 2 "

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