Basic Concepts Simple Interest
9 Questions
| Total Attempts: 5900
This test involves the use of the simple interest formula to find, principal P, amount A, Rate R, Time in years, Simple InterestI let's begin and learn about it!
Questions and Answers
- 1.Mr. Smith deposited $40, 000 in a bank and earned simple interest at 7 % per annum for two years. Calculate the interest earned at the end of the period.
- A.
$ 4000
- B.
$2800
- C.
$5600
- D.
$3400
- E.
$200
- 2.Principal + Interest = ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
- 3.
- How much simple interest is due on a loan of US$120 for two years if the annual rate of interest is 5 ½ %.
- A.
$12
- B.
$13.20
- C.
$26.40
- D.
$26
- E.
$33
- 4.
- A man wishes to invest $1500 . He can invest in uLintplus Investment club which pays simple interest of 8%for 3 years. What is the amount in his account after 3 years
- A.
$18321
- B.
$1860
- C.
$1830
- D.
$1524
- E.
$5024
- 5.Calculate the time T for $1000 to become$1300 at a rate of 5 %
- A.
3 years
- B.
6 years
- C.
9 years
- D.
6. 5 months
- E.
10 years
- 6.Find the sum that amounts to $2040 in 6 months at 4 %
- A.
$ 200
- B.
$2000
- C.
$1300
- D.
$2400
- E.
$1020
- 7.When you borrow money from the bank you pay
- 8..............................the percent charged or earned
- 9.The amount of money borrowed or invested is called
Questions: 12 | Attempts: 1649 | Last updated: Oct 26, 2020
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Sample QuestionA father left a will of Rs.35 lakhs between his two daughters aged 8.5 and 16 such that they may get equal amounts when each of them reach the age of 21 years. The original amount of Rs.35 lakhs has been instructed to be invested at 10% p.a. simple interest. How much did the elder daughter get at the time of the will?
Questions: 9 | Attempts: 442 | Last updated: Jun 23, 2020
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Sample QuestionA bike was $79. It is now on sale for $63. What is the percent of change?
This is a quiz to test students' knowledge of simple interest.
Questions: 7 | Attempts: 287 | Last updated: Jan 17, 2019
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Sample QuestionWhat is 5 1/4 % as a fraction in lowest terms?
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