Simple Interest Quiz

What is the simple interest on a loan of $2000 at an annual rate of 5% for 3 years?

• $300

• $200

• $100

• $400

If you invest $5000 at a rate of 4% per year, how much interest will you earn in 2 years?

• $400

• $200

• $100

• $300

What is the principal amount if the simple interest earned in 5 years at an annual rate of 6% is $600?

• $2000

• $1000

• $3000

• $4000

• 5%

• 4%

• 3%

• 2%

• 5 years

• 4 years

• 3 years

• 2 years

What is the total amount after 4 years if you invest $1000 at an annual simple interest rate of 3%?

• $1120

• $1200

• $1080

• $1100

If the simple interest on a certain sum for 2 years at 6% per annum is $180, what is the principal?

• $1500

• $1200

• $1000

• $750

Convert an annual interest rate of 4% to a monthly interest rate.

• 0.33%

• 0.04%

• 0.4%

• 3.33%

What is the simple interest on a principal of $1200 at a rate of 2.5% per annum for 6 months?

• $15

• $30

• $45

• $60

A sum of money doubles itself in 10 years at a certain simple interest rate. What is the annual rate of interest?

• 10%

• 5%

• 20%

• 15%