Sawaal

 Simple Interest Questions

Popular Latest Rated Important Formulae

FACTS  AND  FORMULAE  FOR  SIMPLE  INTEREST  QUESTIONS

 

 

1. Principal: The money borrowed or lent out for a certain period is called the principal or the sum.

 

2. Interest: Extra money paid for using other's money is called interest

 

3. Simple Interest (S.I.) : If the interest on a sum borrowed for a certain period is reckoned uniformly, then it is called simple interest.

Let Principal = P, Rate = R% per annum (p.a.) and Time = T years. Then,

(i)  S.I=P×T×R100

(ii)  P=100×S.IR×T ; R=100×S.IP×T and T=100×S.IP×R

Q:

The interest on Rs. 1250 for 6 years at the rate of 4% simple interest per annum will be

A) Rs. 360 B) Rs. 350
C) Rs. 375 D) Rs. 300
 
Answer & Explanation Answer: D) Rs. 300

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

3 1192
Q:

The effective annual rate of interest corresponding to a nominal rate of 19% per annum payable half­yearly is:

A) 38 percent B) 19.9 percent
C) 39.81 percent D) 19 percent
 
Answer & Explanation Answer: B) 19.9 percent

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

1 1176
Q:

Saathi deposited Rs. 825 in a bank that promised 8% simple interest per annum. If Saathi kept the money with the bank for 5 years, she will earn an interest of

A) Rs. 480 B) Rs. 280
C) Rs. 330 D) Rs. 290
 
Answer & Explanation Answer: C) Rs. 330

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

0 1172
Q:

At 8% simple interest per annum a sum of money becomes Rs. 300 in 2.5 years. What was the sum invested?

A) Rs. 275 B) Rs. 250
C) Rs. 240 D) Rs. 260
 
Answer & Explanation Answer: B) Rs. 250

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

1 1149
Q:

If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 22472, and Rs 23820.32 respectively, what is the rate of interest?

A) 3 percent B) 6 percent
C) 12 percent D) 10 percent
 
Answer & Explanation Answer: B) 6 percent

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

3 1125
Q:

The effective annual rate of interest corresponding to a nominal rate of 7% per annum payable half­yearly is

A) 14 percent B) 14.25 percent
C) 7 percent D) 7.12 percent
 
Answer & Explanation Answer: D) 7.12 percent

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

0 1117
Q:

Simple interest on a sum for 10 years is equal to 5% of the principal. In how many years interest will be equal to the principal?

 

A) 100   B) 150
C) 200 D) 250
 
Answer & Explanation Answer: C) 200

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

0 1102
Q:

Simple interest on a sum of Rs 6800 for 18 months is Rs 2244. What is the rate (in percentage) of interest per annum?

A) 24 B) 18
C) 20 D) 22
 
Answer & Explanation Answer: D) 22

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

4 1097