In our daily life calculation, simple interest is quick and easy method for calculation of the interest on the loan. The money that a person borrows from any person, company, or bank is known as the principal, and the money that a person pays, money is known as interest. The sum of principal and interest is known as the amount. If the amount of years is subtracted from the principal years then the remaining amount is the simple interest.
1. A man invests 500 for 4 years and 600 for 3 years and earns simple interest of 190. Find the rate of interest.
A. 2%
B. 7%
C. 5%
D. 9%
2. In what time 700 amounts to 805 at 5% per amount?
A. 3 years
B. 5 years
C. 7 years
D. 4 years
3. A bicycle can be purchased at 800. A customer can purchase it in 12 monthly installments of 80. What is the rate of interest?
A. 18%
B. 22%
C. 20%
D. 15%
4. What will be the sum of money which earns monthly interest 600 at 6% per annum?
A. 110000
B. 120000
C. 150000
D. 450000
5. A moneylender borrowed 2400 for 2years. If he paid interest on the 1/3 part and 4% interest on the remaining part then how much interest was paid by him?
A. 217
B. 370
C. 320
D. 208
6. If interest on 18860 is 740, then what will be the amount?
A. 18600
B. 19600
C. 19900
D. 18800
7. The interest of 1 Rupee in one month is 1 paise. What is the rate of interest?
A. 11%
B. 10%
C. 8%
D. 12%
8. The sum of money doubles itself at simple interest in 16 years. What is the rate of interest?
A. 20/3%
B. 21/4%
C. 25/4%
D. 13/4%
9. A sum of money amount to 2750 in 2 years at 5% per annum. At what rate the same money amount to 3000 in 2 years?
A. 12 %
B. 10%
C. 15%
D. 20%
10. Jackie lent out some money on simple interest. After 30 years he received three times his money. What is the rate of interest?
A. 20/3%
B. 50/3%
C. 25/3%
D. 10/3%
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