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Simple & Compound Interest Level-1 Quiz-2

April 15, 2021No Comments
Simple & Compound Interest Level-1 Quiz-2

Welcome to the Level – 1 Quiz – 2 of the topic Simple & Compound Interest on Knowvation! The pattern of the quiz will be MCQ and you will encounter many challenging problems which are going to be very helpful for the preparation of various competitive exams like, CAT, IIFT, SNAP, XAT, TISSMAT, TISSNET, CMAT, SSC CGL, etc. You’re requested to please do read the instructions given below before starting this quiz.

Here are some basic instructions:

Time Limit: 7 minutes

Number of Multiple Choice Questions: 10

Passing marks: 70%

You’ll see the answers after you SUBMIT the quiz. ‘Green’ color ticks represents a correct answer and the ‘Red’ ticks represents a wrong answer

Please do provide your valuable feedback on the quiz or report any issue/mistake in the comment box below. ALL THE BEST! 😀

1. Find the interest on a sum of Rs. 88,000 at 9 1 / 11 % p.a. simple interest for 45 months.

 
 
 
 

2. The sum that will yield a simple interest of Rs. 1,368 in three years at 12% p.a. is (in Rs.).

 
 
 
 

3. The simple interest and compound interest on a certain sum at a certain rate of interest for two years are Rs. 800 and Rs. 960 respectively. Find the rate of interest as well as the sum.

 
 
 
 

4. In how many years does a sum become four times itself at 25% p.a. simple interest?

 
 
 
 

5. Find the simple interest earned (in Rs. ) on Rs. 20,000 for 2 years at 10% p.a.

 
 
 
 

6. What rate of interest per annum does a person get if he invests at 40% p.a. compound interest, interest being compounded half-yearly?

 
 
 
 

7. By selling 45 meters of cloth, a trader gains a profit equal to the selling price of 15 meters of cloth. Find the gain percentage.

 
 
 
 

8. If the interest is compounded quarterly, which of the following is necessarily true regarding the effective annual rate of interest?

 
 
 
 

9. A sum triples in three years at a certain rate of interest, compounded annually. In how many years will the same sum amount to eighty one times itself at the same rate?

 
 
 
 

10. The interest for the 3rd year on a certain sum at a certain rate of simple interest is Rs. 3,000. Find the sum of the interests accrued on it (in Rs.) in the 6th , 7th and 8th years.

 
 
 
 


Last updated on April 18, 2021

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