Simple Interest: Test 2

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Simple Interest Test 2: questions and answers

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  1. 1. Find the simple interest on Rs. 15,000 at 5% per annum for 5 years.
    1. Rs. 750
    2. Rs. 3,450
    3. Rs. 3,750
    4. Rs. 3,900

    Reference: q-e953aeb4-68 · Report this question

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    Answer: C. Rs. 3,750

    SI = P × R × T / 100 = 15,000 × 5 × 5 / 100 = Rs. 3,750.
  2. 2. What amount will Rs. 8,000 become in 2 years at 10% per annum simple interest?
    1. Rs. 9,760
    2. Rs. 9,600
    3. Rs. 9,120
    4. Rs. 1,600

    Reference: q-3b5092fa-79 · Report this question

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    Answer: B. Rs. 9,600

    SI = 8,000 × 10 × 2 / 100 = Rs. 1,600. Amount = Rs. 8,000 + Rs. 1,600 = Rs. 9,600.
  3. 3. At what rate per annum will Rs. 6,000 earn a simple interest of Rs. 960 in 2 years?
    1. 8%
    2. 9%
    3. 7%
    4. 11%

    Reference: q-53f0fecd-84 · Report this question

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    Answer: A. 8%

    R = 100 × SI / (P × T) = 100 × 960 / (6,000 × 2) = 8%.
  4. 4. In how many years will Rs. 15,000 earn a simple interest of Rs. 3,600 at 4% per annum?
    1. 6 years
    2. 9 years
    3. 3 years
    4. 8 years

    Reference: q-d3eb5b61-87 · Report this question

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    Answer: A. 6 years

    T = 100 × SI / (P × R) = 100 × 3,600 / (15,000 × 4) = 6 years.
  5. 5. A sum of money doubles itself in 20 years at simple interest. What is the rate of interest per annum?
    1. 3.75%
    2. 20%
    3. 5%
    4. 1.25%

    Reference: q-9bb4ef9c-102 · Report this question

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    Answer: C. 5%

    The interest equals the principal, so P × R × 20 / 100 = P, which gives R = 100 / 20 = 5%.
  6. 6. Find the simple interest on Rs. 2,500 at 6% per annum for 2 years.
    1. Rs. 225
    2. Rs. 150
    3. Rs. 375
    4. Rs. 300

    Reference: q-23b3bc29-67 · Report this question

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    Answer: D. Rs. 300

    SI = P × R × T / 100 = 2,500 × 6 × 2 / 100 = Rs. 300.
  7. 7. What amount will Rs. 4,000 become in 4 years at 8% per annum simple interest?
    1. Rs. 1,280
    2. Rs. 5,280
    3. Rs. 5,200
    4. Rs. 5,360

    Reference: q-110e29fb-78 · Report this question

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    Answer: B. Rs. 5,280

    SI = 4,000 × 8 × 4 / 100 = Rs. 1,280. Amount = Rs. 4,000 + Rs. 1,280 = Rs. 5,280.
  8. 8. At what rate per annum will Rs. 4,000 earn a simple interest of Rs. 600 in 3 years?
    1. 4%
    2. 6%
    3. 5%
    4. 2%

    Reference: q-b9f8721-84 · Report this question

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    Answer: C. 5%

    R = 100 × SI / (P × T) = 100 × 600 / (4,000 × 3) = 5%.
  9. 9. In how many years will Rs. 5,000 earn a simple interest of Rs. 1,600 at 4% per annum?
    1. 8 years
    2. 11 years
    3. 5 years
    4. 9 years

    Reference: q-218c7208-86 · Report this question

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    Answer: A. 8 years

    T = 100 × SI / (P × R) = 100 × 1,600 / (5,000 × 4) = 8 years.
  10. 10. A sum of money doubles itself in 4 years at simple interest. What is the rate of interest per annum?
    1. 17.5%
    2. 25%
    3. 20%
    4. 4%

    Reference: q-e653a3d2-101 · Report this question

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    Answer: B. 25%

    The interest equals the principal, so P × R × 4 / 100 = P, which gives R = 100 / 4 = 25%.

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