Introduction to Simple Interest
Trending Questions
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?
- 25 years
- 5 years
- 10 years
- 15 years
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. The percentage of the principal charged by the lender is called as the rate of the interest.
- True
- False
Q. The mathematical formula for calculating simple interest is
SI=P×R×T
where as. R = Percentage Rate of interest.
SI=P×R×T
where as. R = Percentage Rate of interest.
- True
- False
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 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. Sam has to invest some money in a bank offering Simple Interest at 10% rate of interest, how much principal amount should Sam invest for two years to get $ 250 as interest?
- 250
Q. Which of the following is the correct formula to calculate the total amount in simple interest?
- Principal amount − Simple interest
- Principal amount × Simple interest
- Principal amount + Simple interest
- Principal amount ÷ Simple interest
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. The interest earned on investing $ 1000 for a period of 2 years at a simple rate of interest of 10% is
- $ 200
- $ 400
- $ 100