This quiz works best with JavaScript enabled. Home > Unit V Mathematical Reasoning And Aptitude > Simple Interest – Quiz 21 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Simple Interest Quiz 21 (10 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. After 12 years, a deposit of $ 10,000 into your college account has earned $ 6,000 in interest payments. What simple interest rate did the account earn? A) 50%. B) 5%. C) 500%. D) 7.5%. Show Answer Correct Answer: B) 5%. 2. Mark invested $ 500 for 3 years at 6% per annum. The simple interest Mark received was A) $ 180. B) $ 90. C) $ 30. D) $ 18. Show Answer Correct Answer: B) $ 90. 3. What was your original investment amount if you earned $ 20 in interest at a rate of 14% over 3 months? A) $ 82.00. B) $ 47.62. C) $ 571.43. D) $ 450.00. Show Answer Correct Answer: C) $ 571.43. 4. You are starting your own small business. You borrow $ 10,000 from the bank at a 9% interest rate for 5 years. Find the interest you will pay on this loan. A) $ 450. B) $ 14,500. C) $ 900. D) $ 4,500. Show Answer Correct Answer: D) $ 4,500. 5. Riley invested $ 1,000 in a savings account. If the account earns 6.75% simple interest, what is the balance in her account after 15 years? A) $ 1,012.50. B) $ 10,012.50. C) $ 2,012.50. D) $ 201.25. Show Answer Correct Answer: C) $ 2,012.50. 6. If $ 1500 is invested at a simple interest rate of 4.5% per year, how much interest will be earned in 3 years? A) $ 180. B) $ 202.5. C) $ 225. D) $ 270. Show Answer Correct Answer: B) $ 202.5. 7. Emmy borrows $ 1200 from a bank with 8% simple interest per year. How much will she pay back after 2 years? A) $ 192. B) $ 150. C) $ 1392. D) $ 1350. Show Answer Correct Answer: C) $ 1392. 8. Srikanth deposited Rs. 16000 in a bank that paid simple interest at the rate of 8% p.a. How much interest does he earn after 2 years? A) Rs.2560. B) Rs.2530. C) Rs.2540. D) Rs.2580. Show Answer Correct Answer: A) Rs.2560. 9. You get a student loan to pay for you educational expenses this year. Find the interest on the loan if you borrowed $ 2,000 at 8% for 1 year? A) $ 16. B) $ 80. C) $ 160. D) $ 800. Show Answer Correct Answer: C) $ 160. 10. Interest is charged on the amount actually overdrawn and not on the amount sanctioned by the bank. A) True. B) False. Show Answer Correct Answer: A) True. ← PreviousNext →Related QuizzesSimple Interest Quiz 1Simple Interest Quiz 2Simple Interest Quiz 3Simple Interest Quiz 4Simple Interest Quiz 5Simple Interest Quiz 6Simple Interest Quiz 7Simple Interest Quiz 8Simple Interest Quiz 9Simple Interest Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books