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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Calculate the Simple Interest for a principal of ₹8,000 at an interest rate of 3% for 1 year.
💡 Hint: Use the formula SI = (P × r × t) / 100.
Question 2
Easy
What is the SI for ₹12,000 at an interest rate of 5% over 3 years?
💡 Hint: Remember to multiply for the number of years.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What does the 'P' in the Simple Interest formula represent?
- Principal Amount
- Payment Amount
- Periodic Amount
💡 Hint: Remember, it's the initial sum of money.
Question 2
True or False: Simple Interest is calculated on the accumulated amount including previous interest.
- True
- False
💡 Hint: Think about how interest accrues.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Consider taking a loan of ₹40,000 for 6 years at an interest rate of 7%. How much total interest will you owe at the end of this term?
💡 Hint: Break it down into the parts of the formula and substitute the values.
Question 2
You have ₹8,000 in a savings account that earns 9% Simple Interest. Calculate the total amount in the account after 4 years.
💡 Hint: First calculate the interest with the components and then add to the principal.
Challenge and get performance evaluation