Worksheet on Simple Interest is here. Check your capabilities in solving simple interest problems. Follow the questions on calculating the rate of interest, simple interest, and the amount which is useful for candidates to calculate various problems. You can get various types of questions involving all the concepts of simple interest. Solve Simple Interest Worksheet Questions and make your preparation perfect.<\/p>\n
The formulae to use while solving simple interest problems are,<\/p>\n
A (Amount) = Principal + Interest<\/p>\n
SI (Simple Interest) = (Principal * Rate * Time) \/ 100<\/p>\n
Do Read: What is Simple Interest?<\/a><\/p>\n Question 1:<\/strong><\/p>\n The sum of Rs.800 amounts to Rs. 920 in 3 years at Simple Interest. Suppose that the rate increases by 3%. It would amount to how much?<\/p>\n As given in the question,<\/p>\n Principal amount (P) = Rs. 800<\/p>\n Amount (A) = Rs. 920<\/p>\n We know the formula of Simple Interest<\/p>\n A = P + SI 920 = 800 + SI<\/p>\n SI = 920 – 800<\/p>\n SI = 120<\/p>\n Therefore, Simple Interest SI = 120<\/p>\n We also know that,<\/p>\n SI = P * R * T \/ 100<\/p>\n Substituting the values in the above equation,<\/p>\n 120 = 800 * R * 3 \/ 100<\/p>\n R = 120 \/ 3 * 8<\/p>\n R = 5 %<\/p>\n Therefore, the rate of interest is 5% per annum<\/p>\n As given that the amount increases in 3 years<\/p>\n Hence, 5 + 3 = 8 which implies R = 8<\/p>\n Now, we have to find the simple interest amount after 3 years<\/p>\n SI = P * R * T \/ 100<\/p>\n SI = 800 * 8 * 3 \/ 100<\/p>\n SI = 192<\/p>\n Finally, we find the amount after 3 years<\/p>\n A = P + SI<\/p>\n A = 800 + 192<\/p>\n A = 992<\/p>\n Therefore, the final amount after 3 years = Rs. 992<\/p>\n Hence, the final solution is Rs. 992<\/p>\n<\/details>\n Question 2:<\/strong><\/p>\n Find the simple interest on Rs. 68000 at 16 \\(\\frac { 2 }{ 3 } \\) per annum for 9 months?<\/p>\n As given in the question,<\/p>\n Principal = Rs. 68000<\/p>\n Rate of Interest = 16 \\(\\frac { 2 }{ 3 } \\) = \\(\\frac { 50 }{ 3 } \\)<\/p>\n Time = 9 Months = \\(\\frac { 9 }{ 12 } \\)= \\(\\frac { 9 }{ 12 } \\) years<\/p>\n We also know that,<\/p>\n Simple Interest (SI) = P * R * T \/ 100<\/p>\n Substitute the above values in the equation<\/p>\n SI = 68000 * \\(\\frac { 50 }{ 3 } \\) * \\(\\frac { 3 }{ 42 } \\) \/ 100<\/p>\n SI = 170 * 50<\/p>\n SI = 8500<\/p>\n Therefore, the Simple Interest is 8500<\/p>\n Hence, the final solution is 8500<\/p>\n<\/details>\n Question 3:<\/strong><\/p>\n 3500 principal amount is given at 7% per annum rate of interest. Find the amount of interest at the end of the 2 years which will be received?<\/p>\n As given in the question,<\/p>\n Principal = 3500<\/p>\n Rate of Interest = 7% per annum<\/p>\n Time = 2 years<\/p>\n Simple Interest (SI) = P * R * T \/ 100<\/p>\n SI = 3500 * 7 * 2 \/ 100<\/p>\n SI = 70 * 7<\/p>\n SI = 490<\/p>\n Therefore, Simple Interest = 490<\/p>\n We also know that<\/p>\n Amount = Principal + Interest<\/p>\n A = 3500 + 490<\/p>\n A = 3990<\/p>\n The amount of interest which will be received at the end of 2 years = Rs. 3990<\/p>\n Hence, the final solution is 3990<\/p>\n<\/details>\n Question 4:<\/strong><\/p>\n Laila has 2400 in her account and the rate of interest is 5%. Find out the years that will take to earn the interest as Rs. 240?<\/p>\n As given in the question,<\/p>\n Principal = 2400<\/p>\n Rate of Interest = 5%<\/p>\n Time =?<\/p>\n Simple Interest = 240<\/p>\n We know that,<\/p>\n Simple Interest (SI) = Principal * Rate * Time \/ 100<\/p>\n 240 = 2400 * 5 * T \/ 100<\/p>\n T = 240\/24 * 5<\/p>\n T = 10\/5<\/p>\n T = 2 years<\/p>\n Therefore, it takes 2 years to\u00a0earn the interest as Rs. 240<\/p>\n Hence, the final solution is 2 years<\/p>\n<\/details>\n Question 5:<\/strong><\/p>\n Find Simple Interest and amount on Rs. 150 for 4 years at 5% per annum?<\/p>\n As given in the question,<\/p>\n Principal = 150<\/p>\n Time = 4 years<\/p>\n Rate of Interest = 5% per year<\/p>\n We know that,<\/p>\n I = P* T * R \/ 100<\/p>\n I = 150 * 4 * 5 \/ 100<\/p>\n I = Rs. 30<\/p>\n To find the amount, we use the formula<\/p>\n Amount = Principal + Interest<\/p>\n A = 150 + 30<\/p>\n A = 180<\/p>\n Therefore, the amount of Rs. 150 for 4 years at 5% per annum is 180 and Simple Interest is Rs. 30<\/p>\n<\/details>\n Question 6:<\/strong><\/p>\n Ravi borrowed Rs. 1500 from Rajesh for 3 years 3 months at the rate of interest at 12% per annum. Find the amount at which his debt will be clear?<\/p>\n As given in the question,<\/p>\n Principal = 1500<\/p>\n Time = 3 years 3 months = 3 + (3\/12) = 13\/4 years<\/p>\n Rate of Interest = 12%<\/p>\n We know that,<\/p>\n I = P * T * R \/ 100<\/p>\n I = 1500 * \\(\\frac { 13 }{ 4 } \\) * 12 \/ 100<\/p>\n I = 15 * 13 * 3<\/p>\n I = 585<\/p>\n Therefore, the Interest is Rs. 585<\/p>\n To find the amount, we use the formula<\/p>\n Amount = Principal + Interest<\/p>\n A = 1500 + 585<\/p>\n A = 2085<\/p>\n Therefore, the amount Rs. 2085 will clear his debt in 3 years 3 months<\/p>\n Hence, the final solution is Rs. 2085<\/p>\n<\/details>\n Question 7:<\/strong><\/p>\n The principal is Rs. 6400, SI = Rs. 1152 and Rate of Interest = 6% per annum. Then find the time?<\/p>\n As given in the question,<\/p>\n Principal = Rs. 6400<\/p>\n Simple Interest = Rs. 1152<\/p>\n Rate of Interest = 6% per annum<\/p>\n We know that,<\/p>\n I = P * T * R \/100<\/p>\n T = I * 100 \/ P * R<\/p>\n T = 1152 * 100 \/ 6400 * 6<\/p>\n T = 3 years<\/p>\n Therefore, 3 years is the total time when the principal is Rs. 6400, SI = Rs. 1152 and Rate of Interest = 6% per annum<\/p>\n Hence, the final solution is 3 years.<\/p>\n<\/details>\n Question 8:<\/strong><\/p>\n The principal amount of Rs. 10,500 is invested for 9 years in an account paying annual simple interest. If the total amount of the interest earned was $1890. Find the interest rate?<\/p>\n As given in the. question,<\/p>\n Principal Amount = Rs. 10,500<\/p>\n Time = 9 years<\/p>\n Total Interest Earned = $1890<\/p>\n We know that,<\/p>\n Rate of Interest = Interest \/ Principal * Time<\/p>\n R = 1890 \/ 10,500 * 9<\/p>\n R = 1890 \/ 94,500<\/p>\n R = 0.2<\/p>\n R = 2%<\/p>\n Therefore, the interest rate = 2%<\/p>\n We also know that,<\/p>\n I = P * T * R<\/p>\n I = 10,500 * 0.2 * 2<\/p>\n I = 1890<\/p>\n Hence, If the total amount earned was $1890 then the interest rate = 1890<\/p>\n<\/details>\n Question 9:<\/strong><\/p>\n John won $26,000 at the casino. He wants to put the part in government bonds paying 3% simple interest and the remaining in paying real estate funds at 8% annual simple interest. His C.P.A tells him he needs to have a total annual income of $1680 from two investments. How much should he invest in each of them?<\/p>\n Let x be the amount invested at 3%,<\/p>\n then 26000 – x = amount invested at 8%<\/p>\n 1680 = .03 + 0.8 (26000 – x)<\/p>\n 1680 = 0.3x + 2080 – 0.8x<\/p>\n 1680 = -0.5x + 2080<\/p>\n -400 = -0.5x<\/p>\n x = 8000<\/p>\n 1680 = 8000. 0.03 + 0.08. 18000 where 8000. 0.03 is the interest from govt bonds<\/p>\n 0.08. 18000 is the interest from real estate<\/p>\n = 240 + 1440 = 1680<\/p>\n Therefore, he should invest Rs. 240 in government bonds and Rs. 1440 in real estate<\/p>\n<\/details>\n Question 10:<\/strong><\/p>\n Kimber wants to save money and thus he opens a savings account in the bank with 1% interest per year. If she has 5,500 in her account. How much interest money will he earn in one year?<\/p>\n As given in the question,<\/p>\n Principal amount = 5500<\/p>\n Rate of interest = 0.1%<\/p>\n Time = 1 year<\/p>\n We know that,<\/p>\n Interest = Principal * Time * Rate<\/p>\n I = 5500 * 0.1 * 1<\/p>\n I = 55<\/p>\n Therefore, the amount of money he earns in one year = Rs. 55<\/p>\n<\/details>\n Worksheet on Simple Interest is here. Check your capabilities in solving simple interest problems. Follow the questions on calculating the rate of interest, simple interest, and the amount which is useful for candidates to calculate various problems. You can get various types of questions involving all the concepts of simple interest. Solve Simple Interest Worksheet … Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":103591,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ccssanswers.com\/wp-content\/uploads\/2021\/05\/Worksheet-on-Simple-Interest.png","_links":{"self":[{"href":"https:\/\/ccssanswers.com\/wp-json\/wp\/v2\/posts\/102852"}],"collection":[{"href":"https:\/\/ccssanswers.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ccssanswers.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ccssanswers.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/ccssanswers.com\/wp-json\/wp\/v2\/comments?post=102852"}],"version-history":[{"count":1,"href":"https:\/\/ccssanswers.com\/wp-json\/wp\/v2\/posts\/102852\/revisions"}],"predecessor-version":[{"id":136219,"href":"https:\/\/ccssanswers.com\/wp-json\/wp\/v2\/posts\/102852\/revisions\/136219"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ccssanswers.com\/wp-json\/wp\/v2\/media\/103591"}],"wp:attachment":[{"href":"https:\/\/ccssanswers.com\/wp-json\/wp\/v2\/media?parent=102852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ccssanswers.com\/wp-json\/wp\/v2\/categories?post=102852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ccssanswers.com\/wp-json\/wp\/v2\/tags?post=102852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Simple Interest Questions with Solutions<\/h2>\n
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