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Quiz: Simple Interest

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Number of Questions: 20

Question: 1 -

Find the simple interest on Rs.500 for 9 months at 6 paisa per month? 

Options:

  1. Rs.324

  2. Rs.275

  3. Rs.345

  4. Rs.270

    5. Answer:

    Rs.270
    Solution:

    I = (500*9*6)/100 = 270

Question: 2 -

At what rate percent on simple interest will Rs.750 amount to Rs.900 in 5 years?

Options:

  1. 5%

  2. 5 1/2 %

  3. 3 1/2%

  4. 4%

    5. Answer:

    4%
    Solution:

    150 = (750*5*R)/100

    R = 4%

Question: 3 -

A certain sum amounts to Rs.1725 in 3 years and Rs.1875 in 5 years. Find the rate % per annum? 

Options:

  1. 3%

  2. 4%

  3. 6%

  4. 5%

    5. Answer:

    5%
    Solution:

    3 --- 1725

      5 --- 1875

      --------------

        2 --- 150

    N = 1   I = 75   R = ?

    P = 1725 - 225 = 1500

    75 = (1500*1*R)/100

    R = 5%

Question: 4 -

Find the principle on a certain sum of money at 5% per annum for 2 2/5 years if the amount being Rs.1120?

Options:

  1. Rs.1200

  2. Rs.1050

  3. Rs.1000

  4. Rs.1100

    5. Answer:

    Rs.1000
    Solution:

    1120 = P [1 + (5*12/5)/100]

     P= 1000

Question: 5 -

What sum of money will produce Rs.70 as simple interest in 4 years at 3 1/2 percent? 

Options:

  1. Rs.525

  2. Rs.550

  3. Rs.555

  4. Rs.500

    5. Answer:

    Rs.500
    Solution:

    70 = (P*4*7/2)/100

    P = 500