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Directions: Choose the correct formula for simple interest
1 of 20
Q.1 What is the formula for calculating simple interest?
- SI = (P x R x T) / 100
- SI = (P x R) / T
- SI = (P + R + T) / 100
- SI = (R x T) / P
Directions: Choose the correct representation of 'P' in the formula
2 of 20
Q.2 What does 'P' represent in the simple interest formula?
- Rate of interest
- Time period
- Principal amount
- Final amount
Directions: Calculate the simple interest for given values
3 of 20
Q.3 If the principal is ₹1,000, the rate of interest is 5% per annum, and the time is 2 years, what is the simple interest?
- ₹100
- ₹200
- ₹300
- ₹400
Directions: Choose the correct base for compound interest
4 of 20
Q.4 Compound interest is calculated on:
- Principal only
- Principal and accrued interest
- Rate of interest
- Time period only
Directions: Choose the correct formula for compound interest
5 of 20
Q.5 What is the formula for calculating compound interest annually?
- A = P(1 + R/100)^T
- A = P + (R x T) / 100
- A = P x R x T
- A = P x T x (R / 100)
Directions: Calculate the final amount after 3 years
6 of 20
Q.6 If a sum of ₹2,000 is invested at an interest rate of 6% per annum compounded annually for 3 years, what will be the amount after 3 years?
- ₹2,120
- ₹2,382.03
- ₹2,000
- ₹2,500
Directions: Choose the correct difference
7 of 20
Q.7 The difference between simple interest and compound interest on ₹5,000 for 2 years at a rate of 5% per annum is:
- ₹6.25
- ₹12.50
- ₹25
- ₹50
Directions: Choose the correct number of compounding periods
8 of 20
Q.8 If the interest is compounded half-yearly, how many times per year is the interest compounded?
- 1
- 2
- 3
- 4
9 of 20
Q.9 In compound interest, if the interest is compounded quarterly, the number of compounding periods in a year is:
- 1
- 2
- 3
- 4
Directions: Calculate the rate of interest
10 of 20
Q.10 A sum of money becomes ₹6,000 in 2 years and ₹6,600 in 3 years at compound interest. What is the rate of interest?
- 5%
- 10%
- 15%
- 20%
Directions: SSC 2022 question
11 of 20
Q.11 A sum of ₹8,000 amounts to ₹9,261 in 2 years at compound interest. What is the rate of interest?
- 5%
- 7.5%
- 10%
- 12.5%
Directions: SSC 2019 question
12 of 20
Q.12 The simple interest on a sum of ₹12,000 at 6% per annum for 4 years is:
- ₹2,880
- ₹2,400
- ₹3,000
- ₹2,700
Directions: DSSSB 2020 question
13 of 20
Q.13 In how many years will a sum of ₹1,000 become ₹1,210 at 10% compound interest per annum?
- 1 year
- 2 years
- 3 years
- 4 years
Directions: SSC 2018 question
14 of 20
Q.14 The difference between compound interest and simple interest on a sum of ₹5,000 for 3 years at 8% per annum is:
- ₹24
- ₹32
- ₹40
- ₹50
Directions: DSSSB 2021 question
15 of 20
Q.15 What is the compound interest on ₹10,000 at 5% per annum compounded yearly for 2 years?
- ₹1,000
- ₹1,025
- ₹1,050
- ₹1,100
Directions: SSC 2021 question
16 of 20
Q.16 At what rate of simple interest will a sum of money double itself in 12 years?
- 8.33%
- 10%
- 12%
- 14%
Directions: SSC 2022 question
17 of 20
Q.17 If ₹6,000 becomes ₹7,200 in 2 years at simple interest, what is the rate of interest?
- 10%
- 12%
- 15%
- 20%
Directions: SSC 2020 question
18 of 20
Q.18 At what rate will ₹10,000 amount to ₹11,000 in 2 years at compound interest?
- 4.88%
- 5%
- 9.53%
- 10%
Directions: SSC 2019 question
19 of 20
Q.19 The simple interest on ₹5,000 at 8% per annum for 3 years is:
- ₹1,200
- ₹1,000
- ₹1,400
- ₹1,600
Directions: DSSSB 2021 question
20 of 20
Q.20 The compound interest on ₹4,000 for 2 years at 5% per annum compounded annually is:
- ₹410
- ₹400
- ₹420
- ₹450
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