Rate of interest is the interest on every ₹ 100 for a fixed time period.
True
False
In simple interest, to find the time period, the day on which money is borrowed and the day on which money has to be returned both are taken into account.
True
False
Amount is the multiplication of principal and interest.
True
False
$$I =\frac{100\times P} {R\times T}$$
True
False
$$T =\frac{100\times I} {P\times R}$$
True
False
You earn interest on your savings with the bank.
True
False
Compound interest allows a principal amount to grow at a faster rate than simple interest.
True
False
Compound interest cannot be calculated by adding the interest for each year.
True
False
The conversion period of “compounded quarterly” is six months.
True
False
Click the correct answer.
What is the amount on ₹ 1,000 for 2 years at the rate of 5% per annum compounded annually?
₹ 1,100
₹ 1,102.50
₹ 1,102.25
₹ 1,100.50
What is the compound interest on ₹ 20,000 for 2 years at the rate of 10% per annum?
₹ 4,000
₹ 2,050
₹ 4,200
₹ 4,310
What is the simple interest paid for ₹ 1,650 at the rate of 11% per annum for 4 years and 10 months?
₹ 877.25
₹ 875.25
₹ 787
₹ 787.25
What is the simple interest for ₹ 28,100 at the rate of 8.4% per annum for 25 months?
₹ 4,917
₹ 4,971.50
₹ 4,971
₹ 4,917.50
Arnab borrowed a sum of ₹ 40,500 for one year at the rate of 15% per annum. What simple interest would Arnab paid?
₹ 5,475
₹ 4,557
₹ 6,075
₹ 6,000
What will be the principal if the simple interest paid over a period of 26 months at the rate of 11% per annum is ₹ 1,144?
₹ 8,400
₹ 4,800
₹ 8,300
₹ 3,800
At what rate will ₹ 1,550 give a simple interest of ₹ 310 over a period of 15 months?
15% p.a.
16% p.a.
17% p.a.
18% p.a.
In how many years will ₹ 2,100 give an interest of ₹ 918.75 at the rate of 12.5% per annum?
3 years 6 months
2 years 3 months
3 years 4 months
3 years 5 months
What is the difference between the compound interest and simple interest on ₹ 500 at the rate of 10% per annum for 1 year?
₹ 0
₹ 20
₹ 10
₹ 50
Click the correct answer.
If the interest is compounded half-yearly, then to find the amount we
the given time.
half
double
triple
Compound interest allows a principal amount to grow at
than simple interest.
a faster rate
a fixed rate
a slower rate
The
increase in the value of any asset is called appreciation.
minor
relative
profit
The value of any asset reduces when there is
.
an appreciation
a profit
a depreciation
If the interest is compounded half-yearly, it means that interest is calculated every
and added to the principal.
6 months
3 months
9 months
When the interest is
, the interest rate becomes one-fourth.
yearly
half-yearly
quarterly
The relative
in asset value over a period of time is called depreciation.
