Simple Interest Questions for class 7

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# Simple Interest Questions for class 7

Simple Interest Questions for class 7

1. How much simple interest will Rs 2000 earn in 18 months at 6% per Annum?

(a) Rs 120

(b) Rs 180

(c) Rs 216

(d) Rs 240

Answer is (b) Rs 180

2. A man had Rs 16000, per of which he learn at 8% per annum and the rest at 9% per annum simple interest. If he totals annual interest be Rs 1340, the money lent at 8% is:

(a) Rs 6000

(b) Rs 8000

(c) Rs 10000

(d) Rs 12000

Answer is (c) Rs 10000

3. A man deposited Rs 400 2 years, Rs 550 for 4 years and Rs 1200 for 6 years. He received Rs 1020 as the total simple interest. The rate of interest per annum is:

(a) 8%

(b) 4%

(c) 5%

(d) 6%

Answer is (b) 4%

4. A sum of money amounts to Rs 5200 in 5 years and to Rs 5680 in 7 years at simple interest. The rate of interest per annum is:

(a) 3%

(b) 4%

(c) 5%

(d) 6%

Answer is (d) 6%

5. A sum of money at simple interest amounts to Rs 2240 in 2 years and Rs 2600 in 5 years. The sum is:

(a) Rs 1880

(b) Rs 2000

(c) Rs 2120

(d) Rs Data inadequate

Answer is (b) Rs 2000

6. At which sum the simple interest at the rate of 3 % per annum will be Rs 210 in 2 years?

(a) Rs 1580

(b) Rs 2400

(c) Rs 2800

(d) None of these

Answer is (b) Rs 2400

7. A person invests money in three different schemes for 6 years, 10 years and 12 years at 10%, 12% and 15% simple interest respectively. At the completion of each scheme, he gets the same interest. The ratio of his investment is:

(a) 2:3:4

(b) 3:4:2

(c) 3:4:6

(d) 6:3:2

Answer is (d) 6:3:2

8. Simple interest on Rs 500 for 4 years at 6.25% per annum is equal to the simple interest on Rs 400 at 5% per annum for a certain period of time. The period of time is:

(a) 4 years

(b) 5 years

(c) 6 Years

(d) 8 Years

Answer is(c) 6 Years

9. A borrows Rs 800 at the rate of 12% per annum simple interest and B borrows Rs 910 at the rate of 10% per annum simple interest. In how many years will their amounts of debts be equal?

(a) 18 Years

(b) 22 Years

(c) 22 Years

(d) 24 Years

Answer is (c) 22 Years

10. Rs 6000 become Rs 7200 in 4 years at a certain rate of interest. If the rate becomes 1.5 times of itself, the amount of the same principal in 5 years will be:

(a) Rs 8000

(b) Rs8250

(c) Rs 9000

(d) Rs 9250

Answer is (b) Rs8250

11. If the simple interest for 6 years be equal to 30% of the principal, it will be equal to the principle after

(a) 10 Years

(b) 20 Years

(c) 22 Years

(d) 30 Years

Answer is (b) 20 Years

12. Kruti took a loan at simple interest at 6% in the first year with an increase of 0.5% in each subsequent year. She paid Rs 3375 as Interest after 4 years. How much loan did she take?

(a) Rs 12500

(b) Rs 15800

(c) Rs 33250

(d) Cannot be determined

Answer is (a) Rs 12500

13. At what rate of simple interest a certain sum will be doubled in 15 years?

simple interest questions for class 7

(a)  5%p.a.

(b) 6% p.a.

(c) 6 p.a.

(d) 7 p.a.

Answer is(c) 6 p.a.

14. A certain sum is invested on simple interest. If it trebles in 10 years, what is the rate of interest?

(a) 18% p.a.

(b) 20% p.a.

(c) 22% p.a.

(d) 25% p.a.

Answer is (b) 20% p.a.

15. In how many years, a sum will be thrice of it at the rate of 10% per annum?

(a) 15 Years

(b) 20 Years

(c) 30 Years

(d) 40 Years

Answer is (b) 20 Years

16. A man invests of his capital at 7% p.a. at 8% p.a. and the remainder at 10% p.a. If his annual income Rs 561, the capital is:

(a) Rs 5400

(b) Rs 3650

(c) Rs 6600

(d) Rs 7200

Answer is (c) Rs 6600

17. The sum of money that will give Re 1 as simple interest per day at the rate of 5% per annum, is :

(a) Rs 730

(b) Rs 3650

(c) Rs 7300

(d) Rs 36500

Answer is (c) Rs 7300

18. A certain sum of money becomes three times of itself in 20 years at simple interest. In how many years does it become double of itself at the same rate?

(a) 8 Years

(b) 10 Years

(c) 12 Years

(d) 14 Years

Answer is (b) 10 Years

19. If the simple interest on certain sum of money for 15 months at 7 % p.a. exceeds the simple interest on the same sum of 8 month at 12 % p.a. by Rs 32.50 the sum is:

(a) Rs 312

(b) Rs 312.00

(c) Rs 3120

(d) Rs 3120.50

Answer is (c) Rs 3120

20. Rs 2000 amount to Rs 2600 in 5 years at the simple interest. If the interest were increased by 3%, it would amount to how much?

(a) Rs 2900

(b) Rs 3200

(c) Rs 3600

(d) None of these

Answer is (a) Rs 2900

21. If the annual rate of simple interest increases from 10% to 12 %, a man’s annual income increases by Rs 1250. The principle is:

(a) Rs 45000

(b) Rs 50000

(c) Rs 60000

(d) Rs 65000

Answer is (b) Rs 50000

simple interest questions for class 7

22. Simple interest on a certain sum at a certain annual rate of interest is of the sum. If the numbers representing rate per cent and time in years be equal, then rate per cent per annum is :

(a) 85%

(b) 11 %

(c) 12 %

(d) 12 %

Answer is (d) 12 %

23. On a certain sum, the simple interest at the end of 12 years become of the sum. What is the rate per cent annum?

(a) 4%

(b) 5%

(c) 6%

(d)  8%

(e) None of these

Answer is (c) 6%

24. A farmer borrowed Rs 3600 at 15% per annum. At the end of 4 years he cleared his account by paying Rs 4000 and goat. The cost of the goat is:

(a) Rs 1000

(b) Rs 1200

(c) Rs 1550

(d) Rs 1760

Answer is (d) Rs 1760

25. The simple interest at x% p.a. for x years will be Rs x on a sum of:

(a) Rs x

(b) Rs 100x

(c) Rs 100/x

(d) Rs 100/x2

Answer is (c) Rs 100/x

26. X, Y, Z are three sums of money such that y is the simple interest on x and z is the simple interest on y for the same time and rate. Which of the following is correct?

(a) xyz=1

(b) z2

(b)  x2

(d) y2

Answer is (d) y2

27. A sum of money invested at a certain rate of simple interest doubles itself in 12 years 6 months. It will treble itself at the same rate of interest in

(a) 18 Years 9 months

(b) 20 Years 8 months

(c) 22 Years

(d) 25 years

Answer is (d) 25 years

28. In how much time would the simple interest on a certain sum be 0.125 times the principle at 10% per annum?

(a) 1 years

(b) 1 years

(c) 2 years

(d) 2 years

Answer is (a) 1 years

simple interest questions for class 7

29. A sum of Rs 600 amounts to Rs 720 in 4 years. What will it amount to if the rate of interest is increased by 2%?

(a) Rs 724

(b) Rs 648

(c) Rs 768

(d) Rs 792

Answer is (c) Rs 768

30. The difference between the simple interest received from two different sources on Rs 1500 for 3 years in Rs 13.50. The difference between their rates of interests is:

(a) 0.1%

(b) 0.2%

(c) 0.3%

(d) 0.4%

Answer is (c) 0.3%

31. Mr. A lends 40% of the sum at 15% p.a. 50% of the rest sum at 10% p.a. and the rest at 18% p.a. simple interest. What would be the rate of interest per annum calculated on the whole sum?

(a) 13.33%

(b) 13.4%

(c) 14.33%

(d) 14.4%

(e) None of these

Answer is (d) 14.4%

32. Wasim borrowed some money at 6% p.a. simple interest for the first 4 years, 8% p.a. for the next 3 years and 10% p.a. for a period beyond 7 years. At the end of 12 years, he earned Rs 5880 as simple interest. How much money did he borrow?

(a) Rs 6000

(b) Rs 8000

(c) Rs 9000

(d) Rs 10000

(e) None of these

Answer is (a) Rs 6000

33. What annual payment will discharge debts of Rs 580 due in 5 years at 8% p.a?

(a) Rs 166.40

(b) Rs 65.60

(c) Rs 100

(d) Rs 120

Answer is (c) Rs 100

34. A man loses Rs 55.50 yearly when the annual rate of interest falls from 11.5% to 10%. His capital is:

(a) Rs 3700

(b) Rs 7400

(c) Rs 8325

(d) Rs 11100

Answer is (a) Rs 3700

35. A money lender finds that due to fall in the annual rate of interest from 8% to 7 %, his yearly income diminishes by Rs 61.50. His capital is:

(a) Rs 224000

(b) Rs 23800

(c) Rs 24600

(d) Rs 26000

Answer is (c) Rs 24600

36. A commission agent allows a rebate of 2% to an investor while the company pays on interest of 15% on the investment. What rate of interest does the investor actually earn on his investment?

(a) 17%

(b) 16%

(c) 17%

(d) 15%

Answer is (d) 15%

37. A sum of Rs 1000 is lent partly at 8% and the remaining at 10% p.a. If the yearly interest on the average is 9.2%, the money lent at 10% is:

(a) Rs 6000

(b) Rs 5500

(c) Rs 5000

(d) Rs 4500

Answer is (a) Rs 6000

38. A sum of Rs 5000 was lent party at 6% and partly at 9% simple interest. If the total annual interest be Rs 390, the ratio in which the money was lent at given rates is:

(a) 1:1

(b) 1:2

(c) 2:3

(d) 3:2

Answer is (c) 2:3

39. The difference between the interests received from two different banks on Rs 5000 for two years is Rs 25. The difference between their rates is:

(a) 1%

(b) 2.5%

(c) 0.5%

(d) 0.25%

Answer is (d) 0.25%

40. A borrows Rs 8000 at 12% p.a. simple interest and B borrows Rs 9100 at 10% p.a. simple interest. In how many years will their amounts of debts be equal?

(a) 18 years

(b) 20 years

(c) 22 years

(d) 24 years

Answer is (c) 22 years

41. Rs 6000 amount to Rs 7920 in 4 years at a certain rate of interest. If the rate becomes 1.5 times of itself, the amount of the same principle in 5 years will be:

(a) Rs 9240

(b) Rs 9600

(c) Rs 9000

(d) Rs 9450

Answer is (b) Rs 9600

simple interest questions for class 7

42. The least number of years in which the simple interest on Rs 2600 at 6 % simple interest will be exact number of rupees, is

(a) 2 years

(b) 3 years

(c) 4 years

(d) 5 years

Answer is (b) 3 years

43. A man distributed Rs 25300 among his three sons A, B, C in such a way that the amounts of their parts at 10% simple interest in 2 years, 3 years and 4 years will be equal. A’s share is:

(a) Rs 7800

(b) Rs 8400

(c) Rs 9100

(d) Rs None of these

Answer is (c) Rs 9100

44. With a given rate of simple interest, the ratio of principle and amount for a certain period of time is 4:5 after 3 years, with the same rate of interest, the ratio of the principle and amount becomes 5:7 the rate of interest per annum is:

(a) 4%

(b) 5%

(c) 6%

(d) 7%

Answer is (b) 5%

45. RS 1000 is invested at 5% p.a. simple interest. If the interest is added to the principle after every 10 years, the amount will become Rs 2000 after

(a) 15 years

(b) 16 years

(c) 18 years

(d) 20 Years

Answer is (b) 16 years

46. The simple interest on a sum of 5 years is two fifth of the sum. The rate per cent per annum is

(a) 10%

(b) 8%

(c) 6%

(d) 12 %

47. Anand took some loan at 12% per annum simple interest and paid back Rs 17584 at the end of 3 years 4 months. How much money did he borrow?

(a) Rs 13650

(b) Rs 14540

(c) Rs 12560

(d) Rs 15650

Answer is (c) Rs 12560

48. A sum of Rs 10 is lent to be returned in 11 monthly installments of Re 1 each interest being simple. The rate of interest is.

(a) 9%

(b) 10%

(c) 11%

(d) 21%

Answer is (d) 21%

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