Grade 7: Simple Interest

The money borrowed for a certain period is called the ..........

• Principal

• Amount

• Simple Interest

• Sum

The simple interest formula is I=Prt.  What does the t represent?

• Principle
• Interest
• Time, in hours
• Time, in years

What does the R in I =PRT mean?

• rate

• real number

• recommend

• rounding

Find the simple interest on ₹8250 at 8% per annum for 3 years.

• ₹ 1980

• ₹ 10230

• ₹ 1890

• ₹ 8250

A sum of ₹ 16000 earns a simple interest of ₹ 2560 in 2 years. Find the rate of interest per annum.

• 6 %

• 8 %

• 4 %

• 9 %

A sum of money invested at 9 % per annum simple interest amounts ₹ 37760 in 2 years. What will it amount to in 3 years at 10 % per annum?

• ₹ 9600

• ₹ 47920

• ₹ 41600

• ₹ 32000

At what rate per cent per annum simple interest will a sum treble itself in 16 years?

• 12 %

• 12 1/2 %

• 12 5/4 %

• 12 2/3 %

Amount = Principal + Interest

• True

• False

Which of the following statements is incorrect?

• T = 100 × S.I. / P × R

• R = P × T/ 100 × S.I.

• S.I. = P × R × T / 100

• P = 100 × S.I. / R × T

The simple interest on a certain sum of 3 years at 10 % per annum is ₹ 829.50. Find the sum.

• ₹ 5437

• ₹ 2895

• ₹ 2785

• ₹ 2765