Simple Interest Test 1 – Aptitude Test

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Online Simple Interest 1 – Aptitude Test for different Competitive Exams, Entrance Tests & Job Interviews. Test yourself. Take various online tests and find out how well you score before appearing in your upcoming interviews and written tests.

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Total questions: 20

Time limit: 30 minutes

Each question is worth 1 point, and there are no penalties for wrong answers.

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Time remaining: 30:00
1. What is the formula for calculating simple interest?
  1. A = P(1 + rt)
  2. A = P + rt
  3. A = Prt
  4. A = P + PRT
2. What does ‘P’ stand for in the formula for simple interest?
  1. Principal
  2. Principal Amount
  3. Percentage
  4. Present Value
3. Which of the following represents the time period in the simple interest formula?
  1. ‘P’
  2. ‘t’
  3. ‘r’
  4. ‘A’
4. Which of the following represents the rate of interest in the simple interest formula?
  1. ‘r’
  2. ‘t’
  3. ‘P’
  4. ‘A’
5. What does ‘A’ represent in the formula for simple interest?
  1. Amount
  2. Additional Amount
  3. Total Amount
  4. Actual Amount
6. In simple interest, if the principal is $1000, the rate is 5% and time is 2 years, what is the interest?
  1. $100
  2. $10
  3. $1000
  4. $20
7. If the simple interest on a certain sum for 3 years at 8% per annum is $720, what is the sum?
  1. $10000
  2. $3000
  3. $240
  4. $90
8. If the simple interest on a certain sum for 5 years at 6% per annum is $300, what is the sum?
  1. $1200
  2. $150
  3. $200
  4. $2500
9. What is the time period required for a principal amount to double itself at 10% per annum?
  1. 6 years
  2. 8 years
  3. 10 years
  4. 12 years
10. What will be the compound interest on $1000 for 2 years at 5% per annum compounded annually?
  1. $105
  2. $50
  3. $110
  4. $102.50
11. If the simple interest on a sum of money for 3 years at 8% per annum is $1440, what is the sum?
  1. $6000
  2. $480
  3. $360
  4. $1200
12. If the simple interest on a certain sum for 5 years at 4% per annum is $200, what is the sum?
  1. $5000
  2. $2500
  3. $3000
  4. $4000
13. A certain sum of money amounts to $720 in 2 years at 8% per annum. What is the sum?
  1. $800
  2. $640
  3. $600
  4. $900
14. If the simple interest on a certain sum for 4 years at 6% per annum is $480, what is the sum?
  1. $1000
  2. $2000
  3. $1200
  4. $1800
15. What is the simple interest on $400 for 3 years at 10% per annum?
  1. $100
  2. $120
  3. $90
  4. $80
16. What is the rate of interest if the simple interest on $2000 for 2 years is $160?
  1. 7%
  2. 8%
  3. 4%
  4. 10%
17. If the simple interest on a certain sum for 4 years at 5% per annum is $200, what is the sum?
  1. $400
  2. $1000
  3. $800
  4. $1200
18. What will be the simple interest on $2500 for 3 years at 6% per annum?
  1. $400
  2. $450
  3. $600
  4. $450
19. If the simple interest on a certain sum for 3 years at 4% per annum is $120, what is the sum?
  1. $1500
  2. $1000
  3. $500
  4. $2000
20. A sum of money becomes $3600 in 3 years at 10% per annum. What is the sum?
  1. $3000
  2. $2400
  3. $3200
  4. $2800

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