Introduction to Simple Interest

Q. A sum of money triples itself in 20 years at simple interest. Find the rate of interest?

1. $5\%$
2. $15\%$
3. $12\%$
4. $10\%$

Q. If principal amount is $\$3000$, rate of interest is 12% per annum and time period is 1 year, then

1. Simple interest $=\$600$
2. Simple interest $=\$360$
3. Amount $=\$3600$
4. Amount $=\$3360$

Q.

If the principal is $Rs1200$ and the rate of interest is $12\%p.a.$$,$ then the amount to be paid at the end of $3$the years is $\underline{}.$

Q.

Find Principal if the interest is $₨140$ at $4\%$ p.a. for $2$ years.

Q. The time in which the principal amount of $\$500$ dollars lent at a rate of $7.5$ per annum earns an interest of $\$150$ dollars is years.

Q. Which of the following is the correct formula to calculate the total amount in simple interest?

1. Principal amount $-$ Simple interest
2. Principal amount $\times$ Simple interest
3. Principal amount $+$ Simple interest
4. Principal amount $÷$ Simple interest

Q.

Find time, if principal $=$$1200$, rate $=$$12\%$$p.a$amount $=Rs1776$.

Q. The percentage of the principal charged by the lender is called as the rate of the interest.

1. True
2. False

Q. How many years does it take to double the sum of money at a simple interest rate of 5 percent per annum?
years

Q.

On a certain sum, the interest paid after $5$ years is $Rs288$ at $4\%$$p.a$, the sum is $Rs$………………..

Q. The mathematical formula for calculating simple interest is
$SI=P\times R\times T$
where as. $R$ = Percentage Rate of interest.

1. True
2. False

Q. In what time will $\$2500$ lent at 2% per annum on simple interest earn as much interest as $\$3000$ will earn in 5 years at 5% per annum on simple interest?

1. $25$ years
2. $5$ years
3. $10$ years
4. $15$ years

Q.

After ……………….. years an interest of $Rs480$ would be earned for $Rs4800$ at $5\%$$p.a$.

Q. Sam has to invest some money in a bank offering Simple Interest at $10\text{\%}$ rate of interest, how much principal amount should Sam invest for two years to get $\$250$ as interest?

1. 250

Q. If a principal amount of $\$350$ is lent for a time of $2.5$ years earns an interest of $\$140$, then the percentage rate of interest is $\%$.

Q. The interest earned on investing $\$1000$ for a period of $2$ years at a simple rate of interest of $10\text{\%}$ is

1. $\$200$
2. $\$400$
3. $\$100$

Q. The time in which the principal amount of $\$500$ dollars lent at a rate of $7.5$ per annum earns an interest of $\$150$ dollars is years.

Q.

Find the simple interest on $₹278$ for $5$ years at $10\%$ per annum$.$