This quiz works best with JavaScript enabled. Home > Unit V Mathematical Reasoning And Aptitude > Simple Interest – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Simple Interest Quiz 4 (10 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. At what rate per cent per annum will the SI on a sum of money be 2/5 of the amount in 10 years? A) 6%. B) 5 2/3. C) 4%. D) 6 2/3 %. Show Answer Correct Answer: C) 4%. 2. A student deposits $ 800 at 6% annual interest for 4 years. How much simple interest will they earn? A) $ 162. B) $ 184. C) $ 192. D) $ 214. Show Answer Correct Answer: C) $ 192. 3. You invest $ 500 at 4% rate and receive $ 60 in simple interest. How many years was it invested for? A) 1 year. B) 2 years. C) 3 years. D) 4 years. Show Answer Correct Answer: C) 3 years. 4. What is the simple interest paid to the nearest cent for each principal, interest rate, and time?$ 300, 6.5%, 1 year A) $ 19.50. B) $ 195. C) $ 319.50. D) $ 1,950. Show Answer Correct Answer: A) $ 19.50. 5. In a Loan Repayment Schedule, the interest amount paid each period: A) Remained Constant. B) Increases. C) Decreases. D) None of the above. Show Answer Correct Answer: C) Decreases. 6. You are tired at the end of the school year and decided to borrow $ 500 to go on a trip to Florida. You go to the bank and borrow the money at 11% for 2 years. How much interest will you pay on the loan? How much will you pay the bank at the end of the loan? A) $ 55, $ 555. B) $ 210, $ 500. C) $ 110, $ 510. D) $ 110, $ 610. Show Answer Correct Answer: D) $ 110, $ 610. 7. Alexis opened an account with $ 35. The account she opened earns simple interest at a rate of 8.6%. How much money will her account have in 4 years? A) $ 47.04. B) $ 35.04. C) $ 45.00. D) $ 37.45. Show Answer Correct Answer: A) $ 47.04. 8. Ann puts $ 300 in a bank account earning 4% interest. How much will she earn in interest in 1 year? A) $ 4. B) $ 8. C) $ 12. D) $ 16. Show Answer Correct Answer: C) $ 12. 9. How much interest is earned?$ 650, 8%, 3 years A) $ 13.00. B) $ 15600.00. C) $ 200.00. D) $ 156.00. Show Answer Correct Answer: D) $ 156.00. 10. Greg takes out a 4-year simple interest car loan for $ 15000 at a 3% interest rate. Is he does not make any payments, how much total money will he owe at the end of 4 years? A) $ 1800. B) $ 18000. C) $ 16800. D) $ 33000. Show Answer Correct Answer: C) $ 16800. ← PreviousNext →Related QuizzesSimple Interest Quiz 1Simple Interest Quiz 2Simple Interest Quiz 3Simple Interest Quiz 5Simple Interest Quiz 6Simple Interest Quiz 7Simple Interest Quiz 8Simple Interest Quiz 9Simple Interest Quiz 10Simple Interest Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books