Introduction to Simple Interest

Introduction to Simple Interest

#### If you invest Rs. 500 at a simple interest rate of 3% per year, how much interest will you earn after 4 years? 1. [x] Rs. 60 2. [ ] Rs. 62 3. [ ] Rs. 65 4. [ ] Rs. 70 #### What is the simple interest earned on an investment of Rs. 800 at a rate of 4% per year for 3 years? 1. [x] Rs. 96 2. [ ] Rs. 120 3. [ ] Rs. 160 4. [ ] Rs. 192 #### If you invest Rs. 6000 at a simple interest rate of 5% per year, how much interest will you earn after 5 years? 1. [x] Rs. 1500 2. [ ] Rs. 1550 3. [ ] Rs. 1600 4. [ ] Rs. 1650 #### What is the total amount of a Rs. 3000 loan with a simple interest rate of 5% per year to be repaid in 2 years? 1. [x] Rs. 3300 2. [ ] Rs. 3600 3. [ ] Rs. 3900 4. [ ] Rs. 4200 #### A certain amount of money earns Rs.540 as Simple Interest in 3 Years. If it earns a Compound Interest of Rs. 376.20 at the same rate of Interest in 2 years, Find the amount.(in rupees) 1. [ ]2100 2. [ ]1600 3. [ ]1800 4. [x]2000