Simple & Compound Interest Level-1 Quiz-1

1. Find the simple interest on a principal of Rupees 2400 at 5% p.a. for a period of 4 years.

2. If Rs. 4000 becomes Rs. 4800 in 2 years, what will Rs. 6000 become at the end of 6 years at the same rate of interest, under simple interest?

3. If a certain sum doubles in five years under simple interest, in how many years would it become 6 times itself at the same rate of interest?

4. The amount that Kiran would receive if he invests Rs. 18,000 at 15% p.a. simple interest for four years is?

5. The amount that Kiran receives if he invests Rs. 2,400 at 20% p.a. compound interest for 1 year, compounding done semi-annually is?

6. If Rs. 4,000 becomes Rs. 4,560 in 2 years time, what will Rs. 5,000 become at the end of 4 years at the same rate of interest under simple interest?

7. A sum doubles in 8 years at compound interest. In how many years will the sum become 4 times the original sum if the interest is compounded annually?

8. What is the amount under compound interest at the end of three years on a sum of Rs. 8,000 at 5% per annum? (in Rs. )

9. If Rs. 2,000 amounts to Rs. 2,500 in 2 years at simple interest, what is the rate of interest per annum?

10. A sum invested at 20% p.a. compound interest yields an interest of Rs. 5,544 in two years. Find the sum invested (in Rs. ).