This quiz works best with JavaScript enabled. Home > Unit V Mathematical Reasoning And Aptitude > Simple Interest – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Simple Interest Quiz 5 (10 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Find the simple interest on Rs 7000 at 50/3 % for 9 months A) Rs 1075. B) Rs 975. C) Rs 875. D) Rs 775. Show Answer Correct Answer: C) Rs 875. 2. What is the interest earned on a savings account over 2 years, given a principal of $ 200 and a rate of 5%? A) $ 5. B) $ 25. C) $ 20. D) $ 2. Show Answer Correct Answer: C) $ 20. 3. When Loofa was born, her parents put $ 8,000 into a college fund account that earned 9% simple interest. Find the amount of interest earned after 18 years. A) $ 720. B) $ 20,960. C) $ 1,080. D) $ 12,960. Show Answer Correct Answer: D) $ 12,960. 4. Emilio borrows $ 1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years? A) $ 150. B) $ 192. C) $ 1350. D) $ 1392. Show Answer Correct Answer: D) $ 1392. 5. A man took a loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 as interest. Find the principal amount borrowed by him. A) Rs 12000. B) Rs 20000. C) Rs 15000. D) Rs 10500. Show Answer Correct Answer: C) Rs 15000. 6. A sum of money becomes 7/4 of itself in 6 years at simple interest. What is the rate of interest per annum? A) 12.5%. B) 15%. C) 10%. D) 11%. Show Answer Correct Answer: A) 12.5%. 7. Lucca has $ 1,000 to start a savings account. The account is a simple interest account with a rate of 5%. What will be the total of Lucca's account after investing the money for 10 years? A) 50. B) 500. C) 1,500. D) 15,000. Show Answer Correct Answer: C) 1,500. 8. Jane's dad wants to buy her a car for her birthday. He knows she really wants a Honda Civic, but he would need to take out a loan in order to get her the car she wants. He takes out a loan for $ 2,500. The money is borrowed at 9% for 7 months. How much interest will he have to pay on the loan? A) $ 225. B) $ 2,700. C) $ 131.25. D) $ 1,575. Show Answer Correct Answer: C) $ 131.25. 9. Chaleah deposited $ 900 in a new account that earns 6% simple interest. After 2 years, how much interest will she have earned? A) $ 54. B) $ 108. C) $ 540. D) $ 1,080. Show Answer Correct Answer: B) $ 108. 10. What is the formula for calculating Simple Interest (S.I.)? A) SI = (100/P*R*T). B) SI=(P + R + T/100). C) SI=(P * R * T)/100. D) NONE OF THE ABOVE. Show Answer Correct Answer: C) SI=(P * R * T)/100. ← PreviousNext →Related QuizzesSimple Interest Quiz 1Simple Interest Quiz 2Simple Interest Quiz 3Simple Interest Quiz 4Simple 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