Simple interest is a way of calculating interest and it is part of many competitive exams. The formula of simple interest is A = P(1 + rt), in this equation A= amount, P= principle, r= rate of interest and t= time. So take this quiz and increase your knowledge about simple interest.
1. A sum of Rs. 12500 amounts to Rs. 15500 in 4 years at the rate of simple interest what is the rate of interest?
A. 6 %
B. 4 %
C. 5 %
D. 3 %
2. What is the present worth of Rs? 132 due in 2 years at 5 % simple interest per annum?
A. 122
B. 118.8
C. 120
D. 125
3. A certain amount earns simple interest of Rs.1750 after 7 years. Had the interest been 2 % more how much more interest would it have earned?
A. 35
B. 245
C. 350
D. Cannot be determined
4. A sum of money amounts to Rs.9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is?
A. 5 %
B. 8 %
C. 12 %
D. 15 %
5. If Rs. 64 amounts to Rs. 83.20 in 2 years, what will Rs. 86 amount to in 4 years at the same rate and percent per annum?
A. 114.8
B. 124.7
C. 127.4
D. 137.60
6. What will be the ratio of simple interest earned by a certain amount at the same rate of interest for 6 years and that for 9 years?
A. 1 : 3
B. 1 : 4
C. 2: 3
D. Data inadequate
7. If a sum of money at simple interest doubles in 6 years, it will become 4 times in?
A. 12 years
B. 14 years
C. 16 years
D. 18 years
8. The Simple interest on a sum of money at 8 % per annum for 6 years is half the sum is?
A. 4800
B. 6000
C. 8000
D. Data inadequate
9. What annual payment will discharge a debt of Rs. 6450 due in 4 years at 5 % simple interest?
A. 1,400
B. 1500
C. 1,550
D. 1,600
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