Simple Interest Quiz

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This Quiz is based on IPMAT , CLAT and CUET based PYQs

1. A sum of money becomes ₹2,500 in 3 years at a simple interest rate of 5% per annum. What was the principal amount?

1 point

A) ₹2,000

B) ₹2,200

C) ₹2,380

D) ₹2,380

Clear selection

2. The simple interest on ₹4,000 at a rate of 6% per annum for 2 years is:

1 point

A) ₹480

B) ₹520

C) ₹460

D) ₹500

Clear selection

3. What will be the simple interest on a principal of ₹5,000 for 4 years at an interest rate of 8% per annum?

1 point

A) ₹1,200

B) ₹1,600

C) ₹1,800

D) ₹2,000

Clear selection

4. A sum of ₹2,400 becomes ₹3,120 in 4 years with simple interest. What is the rate of interest per annum?

1 point

A) 5%

B) 6%

C) 7%

D) 8%

Clear selection

5. If the simple interest on a sum of money for 5 years is ₹800 at an interest rate of 4% per annum, what is the principal?

1 point

A) ₹4,000

B) ₹5,000

C) ₹4,500

D) ₹3,000

Clear selection

6. A person invests ₹10,000 at a rate of 5% per annum for 3 years. Calculate the total amount he will receive at the end of 3 years.

1 point

A) ₹10,500

B) ₹11,200

C) ₹11,500

D) ₹11,000

Clear selection

7. The simple interest on a sum of ₹1,000 at 10% per annum for 2 years is equal to the interest earned on another sum of ₹500 at the same rate but for a longer period. Find the duration for the second investment.

1 point

A) 2 years

B) 4 years

C) 6 years

D) 8 years

Clear selection

8. If a sum triples in 15 years with simple interest, what is the rate of interest per annum?

1 point

A) 10%

B) 13.33%

C) 15%

D) 20%

Clear selection

9. A person invests ₹5,000 at a certain rate of simple interest for 3 years, and the interest earned is ₹900. Find the rate of interest per annum.

1 point

A) 5%

B) 6%

C) 7%

D) 8%

Clear selection

10. A person lends ₹12,000 to two friends. One friend borrows ₹7,000 at 8% per annum, and the other borrows ₹5,000 at 10% per annum, both for 3 years. What is the total interest earned?

1 point

A) ₹3,000

B) ₹3,100

C) ₹3,400

D) ₹3,600

Clear selection

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