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Simple & Compound Interest Quiz-1

Question 1

Time: 00:00:00

How many years will it take for Joey to Rs 779 as SI on Rs 200 at 9.5% p.a?

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SI= P*R*T/100

=>779= 200*9.5*T/100

=>779= 19T

Therefore T= 779/19= 41 years

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Question 2

Time: 00:00:00

A sum of money put at SI triples itself in 30 years. The interest rate per year is

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Let the sum be P. Then SI= 3P

3P= P*30*R/100

Therefore R= 300/30= 10%

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Question 3

Time: 00:00:00

In how many years will Ankita get Rs 900 as SI on Rs 2525 at 7% p.a.?

2.70

3.03

5.09

4.5

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900= 2525*7*X/100

900= 17675X/100

Therefore X= 90000/17675= 5.09 years

Hence Ankita will get Rs 900 in 5.09 years

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Question 4

Time: 00:00:00

If principal= Rs 3254 Rate= 18% pa and time= 2.25 years, then SI will be:

1317.87

1731.78

1873.81

1783.13

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SI= P*R*T/100 = 3254*18*2.25/100= Rs 1317.87

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Question 5

Time: 00:00:00

If the SI on a particular sum of money for 9 years at 5% p.a. Amounts to Rs 11025, then what will be the sum?

25400

24500

23000

23600

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Let the sum be P

11025= P*5*9/100= 45P/100= 5960

Therefore P= 1102500/45= Rs 24500

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Question 6

Time: 00:00:00

Find the amount if Rs 21000 is invested at 12% p.a. Compounded for 3 years

22405

33600

29503

37907

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Using the formula:A= P [1+ R/100]ⁿ

A = 21000 [1 + (12/100)]³

On Solving, we get A = Rs. 29503

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Question 7

Time: 00:00:00

The SI on Rs 65898 for 3.75 years at 4.68% pa is

Rs 21365.51

Rs 10165.05

Rs 15165.09

Rs 11565.09

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SI= 65898 *3.75*4.68/100= Rs 11565.09

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Question 8

Time: 00:00:00

At what interest rate per annum simple interest of Rs 1020 converts to Rs 1900 in 4 years?

21.89

12.98

29.12

31.34

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SI= P*R*T/100

=>SI= 1900-1020= 880

=>880= 1020*X*4/100

=>880= 4080X/100

=>88000= 4080X

therefore X= 88000/4020= 21.89%

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Question 9

Time: 00:00:00

The simple interest of Rs 954785 for 6 years at 17% per annum is:

Rs 1035860.23

Rs 973880.7

Rs 933280.19

Rs 852614.31

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Simple interest= principle*time*rate/100

Here Principle= Rs 954785

Rate= 17%

Time= 6 years

Therefore interest= 954785 *17*6/100= Rs 973880.7

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Question 10

Time: 00:00:00

If principal= RS 1515 Rate= 20% and Time= 11 years. Then, what will be S.I.?

Rs 2387

Rs 3333

Rs 2332

Rs 4526

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SI= 1515*20*11/100= RS 3333

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