Simple and Compound Interest

Calculate the simple interest on a principal amount of $2000 at an interest rate of 5% for 3 years.

• The simple interest on a principal amount of $2000 at an interest rate of 5% for 3 years is $350.

• The simple interest on a principal amount of $2000 at an interest rate of 5% for 3 years is $150.

• The simple interest on a principal amount of $2000 at an interest rate of 5% for 3 years is $300.

• The simple interest on a principal amount of $2000 at an interest rate of 5% for 3 years is $250.

Find the total amount when $5000 is invested at an interest rate of 8% compounded annually for 4 years.

• The total amount after 4 years is $7346.72.

• The total amount after 4 years is $8000.

• The total amount after 4 years is $6000.

• The total amount after 4 years is $6802.44

If the simple interest on a certain sum of money for 2 years at 6% per annum is $240, find the principal amount.

• 2500

• 1800

• 2200

• 2000

Determine the compound interest on $3000 at 10% per annum compounded semi-annually for 2 years.

• $700.00

• $646.52

• $575.00

• $600.00

What is the simple interest on $1500 at 4% per annum for 5 years?

• $300

• $200

• $250

• $350

Calculate the amount when $8000 is invested at an interest rate of 6% compounded quarterly for 3 years.

• The amount is $9564.95

• The amount is $10000.00

• The amount is $9000.00

• The amount is $8006.00

If the principal amount is $4000 and the simple interest is $800, find the rate of interest and time period.

• Rate of interest = 10% and Time period = 4 years

• Rate of interest = 15% and Time period = 5 years

• Rate of interest = 25% and Time period = 3 years

• Rate of interest = 10% and Time period = 2 year

Find the compound interest on $2500 at 12% per annum compounded annually for 3 years.

• $9823.55

• $1012.32

• $1500.00

• $2000.00

What is the simple interest on $1200 at 3% per annum for 4 years?

• $60

• $432

• $200

• $144

Determine the total amount when $6000 is invested at an interest rate of 7% compounded semi-annually for 5 years.

• The total amount after 5 years will be $8463.59

• The total amount after 5 years will be $7326.35

• The total amount after 5 years will be $9000

• The total amount after 5 years will be $8000