Simple Interest & Compound Interest Exam Quiz

1. A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is:
A) Rs. 720
B) Rs. 698
C) Rs. 678   
D) Rs. 696
E) none of these
2. A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 % p.a. in 5 years. What is the sum?
A) Rs.  8045
B) Rs.  8925
C) Rs. 8900
D) Rs. 8032.45
E) none of these
3. 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:
A) 12 %
B) 13 %
C) 8 % 
D) 12.5 %
4. A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 6.25% p.a. for 2 years.Find his gain in the transaction per year.
A) Rs. 112.50
B) Rs. 175
C) Rs.  150 
D) Rs. 125.50 
5. 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:
A) Rs.  12000
B) Rs.15000 
C) Rs.  12500 
D) Rs. 22000
6.How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?
A)3 year
B)4 year
C)5 year
D)6 year
 7. Bhavika  took a loan of Rs. 1200 with simple interest for as many years as the rate of interest.If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?
B) 5
C) 6
8. A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is:
A) 5 %
B) 7% 
C)10 %
D) 12%
9.A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. 
At the end of the year, the amount he would have gained by way of interest is:
B) 122
10.The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
B) 2
C) 3
D)  4 
E) none of these
11.At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?
A)8 % 
B) 9%
C) 6 %  
D) 8.5 %
E) none of these
12.The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:
A)Rs. 3
B) Rs. 4 
C) Rs. 3.5
D) Rs. 7.5
E) none of these
13.The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:
A) 4
B) 5
C) 6  
D) 2.5
E) none of these
14.What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12 p.c.p.a.?
A) Rs.10123.20
B) Rs. 9000
C) Rs. 12000
D) Rs. 10163.34
E) none of these
15.Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is:
A)Rs. 1650
B)Rs. 2000
C)Rs. 1750
D) Rs.1550
E) none of these
Answers with Explanation: