Problems on Sum and Rate of Interest

Problems on Sum and Rate of Interest

#### A sum of money becomes \$1200 in 2 years at 10% per annum simple interest. What is the principal amount? 1. [ ] \$1000 2. [ ] \$1100 3. [ ] \$1150 4. [x] \$1000 #### If the simple interest on a certain sum of money for 3 years at 8% per annum is \$720, what is the principal amount? 1. [ ] \$2000 2. [x] \$3000 3. [ ] \$4000 4. [ ] \$5000 #### A sum of money doubles itself in 6 years at simple interest. In how many years will it treble itself? 1. [ ] 10 years 2. [x] 12 years 3. [ ] 14 years 4. [ ] 16 years #### At what rate percent per annum will a sum of money become 5 times itself in 10 years at simple interest? 1. [ ] 15% 2. [x] 20% 3. [ ] 25% 4. [ ] 30% #### At what rate percent per annum will a sum of money become twice times in 5 years at simple interest? 1. [ ] 15% 2. [x] 20% 3. [ ] 25% 4. [ ] 30%