Simple Interest Practice Question and Answer

Q:

The simple interest accrued on an amount of Rs. 8500 at the end of four years is Rs.3400. What would be the compound interest accrued on the same amount at the same rate of interest after three years?

1443 0

  • 1
    ₹ 2560.25
    Correct
    Wrong
  • 2
    ₹ 2813.5
    Correct
    Wrong
  • 3
    ₹ 2740
    Correct
    Wrong
  • 4
    ₹ 2944
    Correct
    Wrong
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Answer : 2. "₹ 2813.5 "

Q:

How much simple interest will be received in 10 years on the amount of Rs. 1600? If the rate of interest is 7.25 percent per annum.

1401 0

  • 1
    Rs. 1180
    Correct
    Wrong
  • 2
    Rs. 1160
    Correct
    Wrong
  • 3
    Rs. 1240
    Correct
    Wrong
  • 4
    Rs. 1220
    Correct
    Wrong
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Answer : 2. "Rs. 1160"

Q:

If the instalments are paid at the end of every year, what annual payment will discharge a debt of Rs. 7,200 due in 3 years at 20% per annum simple interest?

1353 0

  • 1
    Rs. 1500
    Correct
    Wrong
  • 2
    Rs. 1800
    Correct
    Wrong
  • 3
    Rs. 2000
    Correct
    Wrong
  • 4
    Rs. 2250
    Correct
    Wrong
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Answer : 3. "Rs. 2000"

Q:

Equal sum of money are lent to X and Y at 7.5 % per annum for a period of 4 years and 5 years respectively. If the difference in interest, paid by them was 150, the sum lent to each was 

1321 0

  • 1
    ₹ 2000
    Correct
    Wrong
  • 2
    ₹ 3000
    Correct
    Wrong
  • 3
    ₹ 500
    Correct
    Wrong
  • 4
    ₹ 1000
    Correct
    Wrong
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Answer : 1. "₹ 2000 "

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Answer : 2. "12.5 %"

Q:

In how many years will Rs 4600 amount to Rs 5428 at 3 % per annum simple interest?

1310 0

  • 1
    3
    Correct
    Wrong
  • 2
    5
    Correct
    Wrong
  • 3
    6
    Correct
    Wrong
  • 4
    4
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 3. "6"

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? 

1305 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 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? 

1293 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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