Simple Interest Test

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Simple Interest Test - 2

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Weekly Quiz Competition

Question 1
1 / -0

Find the simple interest, when: Principal = Rs 1000, Rate of Interest = 10% per annum and Time = 5 years

A
500

B
450

C
425

D
400

Solution

Given Principal = Rs 1000, Rate of Interest = 10% per annum and Time = 5 years.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (1000 × 10 × 5)/100

= Rs 500
Question 2
1 / -0

Kirti lent Rs 15000 to his friend. He charged 15% per annum on Rs 12500 and 18% on the rest. How much interest does he earn in 3 years?

A
6375

B
6975

C
6875

D
6575

Solution

Given Principal amount P = Rs 15000

Time period T = 3 years

Rate of interest R = 15% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (15000 × 3 × 15)/100

= Rs 5625

Rest of the amount lent = Rs 15000 − Rs 12500 = Rs 2500

Rate of interest = 18 % p.a.

Time period = 3 years

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (2500 × 3 × 18)/100

= Rs 1350

Total interest earned = Rs 5625 + Rs 1350 = Rs 6975
Question 3
1 / -0

Find the interest on Rs 250 for a period of 8 years at the rate of 8% per annum.

A
120

B
140

C
160

D
180

Solution

Given Principal amount P = Rs 250

Time period T = 8 years

Rate of interest R = 8% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (250 × 8 × 8)/100

= Rs 160
Question 4
1 / -0

Ajay borrowed Rs 300000 from a bank at 18% per annum for 2 years. He lent this sum of money to Rohan at 20% per annum for 2 years. How much did Rohit earn from this transaction?

A
850

B
900

C
1200

D
1450

Solution

Given Principal amount P = Rs 30000

Time period T = 2 years

Rate of interest R = 20% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (30000 × 2 × 20)/100

= Rs 12000

Principal amount P = Rs 30000

Time period T = 2 years

Rate of interest R = 18% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (30000 × 2 × 18)/100

= Rs 10800

Amount gained by Rohit = Rs 12000 − Rs 10800

= Rs 1200
Question 5
1 / -0

Ajit took a loan of Rs 16000 from a money lender, who charged interest at the rate of 9% per annum. After 2 years, ajit paid him Rs 18400 and wrist watch to clear the debt. What is the price of the watch?

A
550

B
500

C
630

D
480

Solution

Given Principal amount P = Rs 16000
Time period T = 2 years
Rate of interest R = 9% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (16000 × 2 × 9)/100

= Rs 2880

Total amount payable by Ajit after 2 years = Rs 16000 + Rs 2,880

= Rs 18,880
Amount paid = Rs 18400
Value of the watch = Rs 18880 − Rs 18,400 = Rs 480
Question 6
1 / -0

A person deposits Rs 50000 in a firm who pays an interest at the rate of 10% per annum. Calculate the income he gets from it annually.

A
3540

B
4300

C
4700

D
5000

Solution

Given Principal amount P = Rs 50000

Time period T = 1 year

Rate of interest R = 10% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (50000 × 1 × 10)/100

= Rs 5000
Question 7
1 / -0

Find the simple interest, when: Principal = Rs 250, Rate of Interest = 25% per annum and Time = 4 years

A
300

B
250

C
225

D
275

Solution

Given Principal = Rs 250, Rate of Interest = 25% per annum and Time = 4 years.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get,

SI = (250 × 4 × 25)/100

= Rs 250
Question 8
1 / -0

Anita borrowed Rs 1100 from her friend at 4% per annum. She returned the amount after 6 months. How much did she pay?

A
1122

B
2211

C
1331

D
1112

Solution

Given Principal amount P = Rs 1100

Time period T = ½ year

Rate of interest R = 4% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (1100 × ½ × 4)/100

= Rs 22

Total amount paid after ½ year = Principal amount + Interest

= Rs 1100 + Rs 22

= Rs 1122
Question 9
1 / -0

Rakesh lent out Rs 4000 for 5 years at 30% per annum and borrowed Rs 3000 for 3 years at 24% per annum. How much did he gain or lose?

A
3760

B
3640

C
3680

D
3840

Solution

Given Principal amount P = Rs 4000

Time period T = 5 years

Rate of interest R = 30% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (4000 × 5 × 30)/100

= Rs 6000

Principal amount P = Rs 3000

Time period T = 3 years

Rate of interest R = 24% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (3000 × 3 × 24)/100

= Rs 2160

Amount gained by Rakesh = Rs 6000 − Rs 2160

= Rs 3840
Question 10
1 / -0

Ankur borrowed Rs 1000 at 4% per annum and Rs 500 at 10% per annum. He cleared his debt after 2 years by giving Rs 1400 and a watch. What is the cost of the watch?

A
300

B
280

C
320

D
250

Solution

Given Principal amount P = Rs 1000

Time period T = 2 years

Rate of interest R = 4% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (1000 × 2 × 4)/100

= Rs 80

Principal amount P = Rs 500

Time period T = 2 years

Rate of interest R = 10% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (500 × 2 × 10)/100

= Rs 100

Total amount that he will have to return = Rs. 1000 + 500 + 80 + 100 = Rs. 1680

Amount repaid = Rs. 1400

Value of the watch = Rs. 1680 – 1400 = Rs. 280

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Re-Attempt Weekly Quiz Competition

Simple Interest Test - 2

Result

Simple Interest Test - 2

Score

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Rank

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SHARING IS CARING

Question 1

500

450

425

400

Solution

Question 2

6375

6975

6875

6575

Solution

Question 3

120

140

160

180

Solution

Question 4

850

900

1200

1450

Solution

Question 5

550

500

630

480

Solution

Question 6

3540

4300

4700

5000

Solution

Question 7

300

250

225

275

Solution

Question 8

1122

2211

1331

1112

Solution

Question 9

3760

3640

3680

3840

Solution

Question 10

300

280

320

250

Solution

User

Question Analysis

My Perfomance

Score

-

Rank

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