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Business Mathematics Practice Test: Interest
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Business Mathematics Practice Test: Interest
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25 Questions

1. Aman got a salary of Rs. 8600. The salary was invested by him in two parts. Find the difference between the two parts of his salary, if in first part he got some simple interest at 15% per annum in 4 years, which was same as the second part which he invested at 20% for 3 years.
2. Sam borrowed some money from his friend at simple interest of 6% per annum. He returned his friend Rs. 15600. After how much time did Sam return the money if he borrowed Rs. 12000?
3. Raman paid Rs. 11400 as interest after 9 years. He had borrowed some money at rate of 6% for first two years, 9% for next three years and 14% for rest of the period. How much money did he borrow?
4. A sum becomes Rs. 3000 at the rate of 12% per annum (simple interest). The same sum becomes Rs. 3300 at the rate of 15% per annum (simple interest) in the same duration. Find the sum and the duration.
5. certain sum earns simple interest of Rs. 800 in 2 years at a certain rate of interest. If the same sum earns compound interest of Rs. 845 in the same period of 2 years, What must be the rate of interest?
6. If simple interest for 2 years for a sum is Rs. 600 and compound interest for the same sum for 2 years and same rate of interest is Rs. 645, what will be the rate of interest?
7. 1/5 part of an amount was given at 3% simple interest, 1/3 part was given at 5% simple interest, 2/5 parts at 9% simple interest and remaining part at 11% simple interest. The total interest received was Rs.297. How much amount was originally given?
8. Rs. 20400 was divided in two parts and then invested. One part invested at 6.25% for 8 years yields the same interest as the other part invested at 7% for 5 years. What is the value of smaller part?
9. A sum of Rs. 4000 amounts to Rs. 4600 in 5 years at a certain rate of simple interest. What would be the amount, if the rate of interest is increased by 3 %.
10. Kabir paid Rs. 9600 as interest on a loan he took 5 years ago at 16% rate of simple interest. What was the amount he took as loan?
11. Simple interest at x% for x years will come out to be Rs x on a sum of Rs?
12. What is the minimum number of years upon which SI on Rs 2600 at 6.67% interest rate will be in whole number?
13. Guddi invested some money in a bank at rate of 6% per annum. At simple interest, after 9 years, she got Rs. 8470. How much did she invest?
14. Akhil borrowed a certain sum of money at the rate of 6%, 9% and 14% for a period of first two years, next three years and beyond the period of five years respectively. If at the end of nine years, he paid Rs. 8550 as interest, then find the sum of money he had borrowed.
15. A man got Rs. 130 less, as simple interest, when he invested Rs. 2000 for 4 years as compared to investing Rs. 2250 for same duration. What is the rate of interest?
16. An amount becomes 7 times in 15 years. In how many years will the same amount become 10 times? The rate of interest remains the same for both cases.
17. In 4 years the simple interest on certain sum of money is 9/25 of the principal. The annual rate of interest is
18. Ram gets Rs. 2600 for Rs. 2000 in 5 years at some rate of simple interest. Had he invested in other places where rate of simple interest is 3% more than current rate, how much would have Ram got in same time?
19. In 40 years an amount becomes 6 times the original amount. What is the rate of interest?
20. How much should be the annual installment to completely pay off a debt of Rs. 1078 in 6 years at 9% per annum rate of interest?
21. Aman invests Rs. 8000 at some rate of interest. Being simple interest the money doubles in 5 years. Raj sees this and invests Rs. 6250 for 3 years at same rate of interest. How much interest does Raj get?
22. Find the principal which yields a simple interest of Rs. 20 and compound interest of Rs. 21 in two years, at the same percent rate per annum?
23. A TV can be bought for Rs. 20000 cash or by paying in four equal monthly installments with an initial down payment of Rs. 4000. If the rate of interest for this facility is 8% per annum, then what would be the installment charged for each month?
24. Suresh for 2 years invested Rs. 500 in SBI. He also invested Rs. 300 in ICICI for 4 years. At the end he received Rs. 220 from both banks as simple interest. What must have been rate of interest?
25. In how many years, Rs. 200 will produce the same interest @ 5 % as Rs. 900 produce in 2 years @ 3 ½ %?

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