Simple Interest Quiz

What is the formula to calculate Simple Interest (SI)?

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If the Principal is ₹500, Rate of Interest is 5% per annum, and Time is 2 years, what is the Simple Interest?

• ₹25

• ₹50

• ₹100

• ₹125

What happens to the Simple Interest if the Rate of Interest doubles?

• It becomes half.

• It remains the same.

• It doubles.

• It triples.

Which of the following factors affect Simple Interest?

• Principal

• Rate of Interest

• Time

• All of the above

If the Time is 1 year, Principal is ₹1000, and the Simple Interest is ₹100, what is the Rate of Interest?

• 5%

• 8%

• 10%

• 12%

If you borrow ₹2000 at a rate of 5% per annum for 3 years, what will be the total amount to be repaid?

• ₹2300

• ₹2500

• ₹2600

• ₹2800

Which of the following is NOT required to calculate Simple Interest?

• Principal

• Rate of Interest

• Time

• Compound Interest

If the Principal doubles, what happens to the Simple Interest (assuming the Rate and Time are constant)?

• SI doubles.

• SI becomes half.

• SI remains the same.

• SI triples.

A sum of ₹5000 earns a Simple Interest of ₹750 in 3 years. What is the Rate of Interest?

• 3%

• 5%

• 8%

• 10%

If the Simple Interest earned is ₹150 and the Principal is ₹1200, what is the Rate of Interest for 2 years?

• 6%

• 7.5%

• 5%

• 10%