Simple Interest Questions

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  1. If the simple interest on Re.1 for 1 month is 1 paisa, then the rate percent per annum will be
  1. 8%
  2. 6%
  3. 10%
  4. 12%

View Answer

Answer is d

 

2. The amount to be paid, when principle = Rs.2000, rate of simple interest R = 5%, T = 2 years, is

  1. Rs. 2400
  2. Rs. 3400
  3. Rs. 3200
  4. Rs. 2200

View Answer

Answer is d

 

3. A certain sum doubles in 7 years at simple interest. For the same interest rate it will become 4 times in how many years

  1. 28
  2. 10
  3. 14
  4. 21

View Answer

Answer is d

 

4. A certain sum of money amounts to Rs.2200 at 5% p.a. rate of interest, Rs.2320 at 8% interest in the same period of time. The period of time is

  1. 4 years
  2. 2 years
  3. 3 years
  4. 5 years

View Answer

Answer is b

 

5. At what percent of simple interest will a sum of money double itself in 15 years?

  1. 20/3 %
  2. 6 %
  3. 19/3 %
  4. 13/2 %

View Answer

Answer is a

 
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