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free Online Test Simple Interest Questions and Answers Quiz 1

Description: Free Online Test questions and answers on Simple Interest with explanation for various competitive exams,entrance test. Solved examples with detailed answer test 1

Exercise

"Life is like riding a bicycle. To keep your balance you must keep moving."
- Albert Einstein
1 . The simple interest accrued on a sum of certain principal is Rs.2000 in five years at the rate of 4% per annum. What would be the compound interest accrued on same principal at same rate in two years ?
A.  716 B.    724
C.  824 D.    816
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2 . What total amount would Ramesh get at the end of three years if he invests an amount of Rs.11200 in a scheme, which offers simple interest 8.5% per annum for three years ?
A.  14056 B.    14348
C.  13852 D.    15064
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3 . Arun invested a sum of money at a certain rate of simple interest for a period of for a period of four years. Had he invested the same sum for a period of six years the total interest earned by him would have been fifty per cent more than the earlier interest amount. What was the rate of interest per cent per annum
A.  4 B.    5
C.  Cannot be determined D.    8
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4 . Rohit invested some amount at the rate of 6 pcpa and at the end of 2 yr he got Rs. 8730 simple interest. How much compound interest he will get on same amount and same rate of interest after 2 yr
A.  5900 B.    5949.60
C.  5994.60 D.    5820
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5 . What amount a man would have received on a principal of Rs. 4000 after two yr simple interest @ 5% per annum ?
A.  4410 B.    4100
C.  4190 D.    4161
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6 . The simple interest accrued on an amount of rs.27500 at the end of three years is Rs.10230. What would be the approximate compound interest accrued on the same amount at the same rate in the same period ?
A.  11550 B.    12620
C.  10950 D.    11900
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7 . The simple interest accrued on an amount of Rs.84000 at the end of 3 yr is Rs.30240. What would be the compound interest accrued on the same amount at the same rate in the same period ?
A.  31013.95 B.    30013.95
C.  34013.95 D.    32013.95
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8 . Kruti took a loan at a simple interest rate of 6% in the first year with an increase of 0.5% in each subsequent year. She paid interest of Rs.3375 after four years. How much loan did she take ?
A.  33140 B.    12500
C.  15800 D.    Cannot be determined
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9 . The simple interest accrued on an amount of Rs. 40000 at the end of three years Rs.12000. What would be the compound interest accrued on the same amount at the same rate in the same period ?
A.  18765 B.    13240
C.  21555 D.    15350
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10 . Vishwas borrowed a total amount of Rs.30000, part of it on simple interest rate of 12% per annum and remaining on simple interest rate of 10% per annum. If at the end of 2 yr he paid in all Rs.36480 to settle the loan amount, what was the amount borrowed at 12% pre annum ?
A.  12000 B.    18000
C.  16000 D.    17500
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