Simple Interest

Simple interest is paid only on the original amount (the principal). SI = P × R × T ÷ 100, where R is the yearly rate in percent and T is the time in years.

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1. Q1Medium

   Simple interest on ₹1,200 at 13% a year for 5 years?

   1. A₹790
   2. B₹1,980
   3. C₹780
   4. D₹3,900
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   Answer: C. ₹780

   💡 SI = P × R × T ÷ 100 = 1,200 × 13 × 5 ÷ 100 = ₹780.

2. Q2Medium

   Simple interest on ₹2,900 at 4% a year for 5 years?

   1. A₹3,480
   2. B₹638
   3. C₹580
   4. D₹2,900
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   Answer: C. ₹580

   💡 SI = P × R × T ÷ 100 = 2,900 × 4 × 5 ÷ 100 = ₹580.

3. Q3Medium

   Simple interest on ₹4,700 at 9% a year for 5 years?

   1. A₹2,115
   2. B₹10,575
   3. C₹6,815
   4. D₹2,135
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   Answer: A. ₹2,115

   💡 SI = P × R × T ÷ 100 = 4,700 × 9 × 5 ÷ 100 = ₹2,115.

4. Q4Medium

   Simple interest on ₹2,100 at 15% a year for 3 years?

   1. A₹985
   2. B₹945
   3. C₹2,835
   4. D₹3,045
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   Answer: B. ₹945

   💡 SI = P × R × T ÷ 100 = 2,100 × 15 × 3 ÷ 100 = ₹945.

5. Q5Hard

   ₹3,500 earns ₹1,050 simple interest in 5 years. Rate per year?

   1. A5%
   2. B6%
   3. C2%
   4. D3%
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   Answer: B. 6%

   💡 R = SI × 100 ÷ (P × T) = 1,050 × 100 ÷ (3,500 × 5) = 6%.

6. Q6Hard

   ₹1,000 earns ₹200 simple interest in 2 years. Rate per year?

   1. A10%
   2. B13%
   3. C20%
   4. D12%
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   Answer: A. 10%

   💡 R = SI × 100 ÷ (P × T) = 200 × 100 ÷ (1,000 × 2) = 10%.

7. Q7Hard

   ₹2,400 earns ₹840 simple interest in 5 years. Rate per year?

   1. A4%
   2. B7%
   3. C35%
   4. D6%
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   Answer: B. 7%

   💡 R = SI × 100 ÷ (P × T) = 840 × 100 ÷ (2,400 × 5) = 7%.

8. Q8Hard

   ₹4,500 earns ₹945 simple interest in 3 years. Rate per year?

   1. A9%
   2. B7%
   3. C6%
   4. D4%
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   Answer: B. 7%

   💡 R = SI × 100 ÷ (P × T) = 945 × 100 ÷ (4,500 × 3) = 7%.