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Simple Interest

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Simple Interest
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10 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt


A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:

5%

8%

12%

15%

Answer explanation

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2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned?

Rs.35

Rs.45

Rs.55

Cannot be determined

Answer explanation

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3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?

1:3

2:1

2:3

4:3

Answer explanation

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4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes:

10%

10.5%

11%

10.25%

Answer explanation

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5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt


A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:

Rs.2000

Rs.10000

Rs.15000

Rs.20000

Answer explanation

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6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If the interest earned in 3 years is ₹450 at 6% p.a., what is the principal?

Rs.2000

Rs.2500

Rs.3000

Rs.0

Answer explanation

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7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How much time will it take to earn ₹240 as simple interest on ₹1200 at 10% p.a.?

1 year

2 years

3 years

4 years

Answer explanation

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