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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?
Directions : Calculate the simple interest for given values
Q. 3 of Quiz-2112 (Que-ID : 4652)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
Ans → (b)₹200
Explanation → Simple interest is calculated using SI = (P x R x T) / 100
This question is taken from this post → Mathematics Practice Quiz on Simple and Compound Interest - attemp/practice
More MCQs in - Mathematics Practice Quiz on Simple and Compound Interest
Directions : Calculate the simple interest for given values
Q. 3 of Quiz-2112 (Que-ID : 4652)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 number of compounding periods
Q. 8 of Quiz-2112 (Que-ID : 4653)If the interest is compounded half-yearly, how many times per year is the interest compounded?
- 1
- 2
- 3
- 4
Directions : SSC 2019 question
Q. 12 of Quiz-2112 (Que-ID : 4654)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 : Choose the correct number of compounding periods
Q. 9 of Quiz-2112 (Que-ID : 4655)In compound interest, if the interest is compounded quarterly, the number of compounding periods in a year is:
- 1
- 2
- 3
- 4
Directions : SSC 2019 question
Q. 19 of Quiz-2112 (Que-ID : 4656)The simple interest on ₹5,000 at 8% per annum for 3 years is:
- ₹1,200
- ₹1,000
- ₹1,400
- ₹1,600
Directions : SSC 2022 question
Q. 17 of Quiz-2112 (Que-ID : 4657)If ₹6,000 becomes ₹7,200 in 2 years at simple interest, what is the rate of interest?
- 10%
- 12%
- 15%
- 20%
Directions : Choose the correct representation of 'P' in the formula
Q. 2 of Quiz-2112 (Que-ID : 4658)What does 'P' represent in the simple interest formula?
- Rate of interest
- Time period
- Principal amount
- Final amount
Directions : Choose the correct formula for simple interest
Q. 1 of Quiz-2112 (Que-ID : 4659)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 difference
Q. 7 of Quiz-2112 (Que-ID : 4660)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 : SSC 2018 question
Q. 14 of Quiz-2112 (Que-ID : 4661)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 : Choose the correct base for compound interest
Q. 4 of Quiz-2112 (Que-ID : 4662)Compound interest is calculated on:
- Principal only
- Principal and accrued interest
- Rate of interest
- Time period only
Directions : DSSSB 2021 question
Q. 15 of Quiz-2112 (Que-ID : 4663)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 2022 question
Q. 11 of Quiz-2112 (Que-ID : 4664)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 2021 question
Q. 16 of Quiz-2112 (Que-ID : 4665)At what rate of simple interest will a sum of money double itself in 12 years?
- 8.33%
- 10%
- 12%
- 14%
Directions : SSC 2020 question
Q. 18 of Quiz-2112 (Que-ID : 4666)At what rate will ₹10,000 amount to ₹11,000 in 2 years at compound interest?
- 4.88%
- 5%
- 9.53%
- 10%
Directions : Calculate the final amount after 3 years
Q. 6 of Quiz-2112 (Que-ID : 4667)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 : DSSSB 2021 question
Q. 20 of Quiz-2112 (Que-ID : 4668)The compound interest on ₹4,000 for 2 years at 5% per annum compounded annually is:
- ₹410
- ₹400
- ₹420
- ₹450
Directions : DSSSB 2020 question
Q. 13 of Quiz-2112 (Que-ID : 4669)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 : Choose the correct formula for compound interest
Q. 5 of Quiz-2112 (Que-ID : 4670)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 rate of interest
Q. 10 of Quiz-2112 (Que-ID : 4671)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%
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