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Master Simple Interest

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Questions and Answers

Question 1: If a sum of money becomes double itself in 5 years at a certain rate of simple interest, what is the rate of interest?

B) 15% (correct)

A) 10%

D) 25%

C) 20%

Question 2: If the simple interest on a certain amount of money for 3 years at 8% per annum is ₹720, what will be the principal amount?

C) ₹2,600

B) ₹2,400 (correct)

A) ₹2,000

D) ₹3,000

Question 3: At what rate of simple interest will a sum of money become three times in 10 years?

D) 35%

B) 25%

C) 30%

A) 20% (correct)

Question 4: Ravi invested ₹5,000 at a certain rate of simple interest and received ₹750 as interest after 3 years. What was the rate of interest?

<p>B) 12% (A)</p> Signup and view all the answers

Question 5: What is the simple interest on ₹8,000 at 6% per annum for 4 years?

<p>B) ₹1,440 (A)</p> Signup and view all the answers

Study Notes

Simple Interest

If a sum of money becomes double itself in 5 years, the rate of simple interest is 20% per annum.

Finding Principal Amount

If the simple interest on a certain amount of money for 3 years at 8% per annum is ₹720, the principal amount can be found.

Tripling of Money

At a certain rate of simple interest, a sum of money will become three times in 10 years.

Investment and Interest

Ravi invested ₹5,000 at a certain rate of simple interest and received ₹750 as interest after 3 years, so the rate of interest can be determined.

Calculating Simple Interest

The simple interest on ₹8,000 at 6% per annum for 4 years is ₹1,920.

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Description

Test your knowledge of simple interest with this quiz! Discover the rate of interest, calculate the amount of money, and solve other interest-related problems. Sharpen your math skills and choose the correct answers from multiple options.