Practice Types of Interest - 24.3 | 24. Time Value of Money | Management 1 (Organizational Behaviour/Finance & Accounting)
K12 Students

Academics

AI-Powered learning for Grades 8–12, aligned with major Indian and international curricula.

Professionals

Professional Courses

Industry-relevant training in Business, Technology, and Design to help professionals and graduates upskill for real-world careers.

Games

Interactive Games

Fun, engaging games to boost memory, math fluency, typing speed, and English skills—perfect for learners of all ages.

Typing
Memory
Math
English Adventures
Knowledge

24.3 - Types of Interest

Enroll to start learning

You’ve not yet enrolled in this course. Please enroll for free to listen to audio lessons, classroom podcasts and take practice test.

Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is the formula for Simple Interest?

💡 Hint: Think about the components of the formula.

Question 2

Easy

How do you define Compound Interest?

💡 Hint: Consider how CI differs from SI.

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 is the main difference between Simple Interest and Compound Interest?

  • SI is calculated only on the principal
  • CI includes accumulated interest.
  • SI includes accumulated interest
  • CI is only on principal.
  • They are the same.
  • None of the above.

💡 Hint: Think about how interest is calculated for both.

Question 2

True or False: Compound Interest is always higher than Simple Interest for longer time periods.

  • True
  • False

💡 Hint: Consider how interest accumulates differently.

Solve 1 more question and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A person invests $5,000 in a savings account with a 6% simple interest rate for 10 years. Calculate the total amount received at the end of 10 years and discuss how this would compare to a compound interest scenario at the same rate.

💡 Hint: Remember to use the SI formula for a straight calculation.

Question 2

If a loan of $3,000 is charged a 4% interest compounded annually for 5 years, what is the total amount repayable? How would this differ from using simple interest calculations?

💡 Hint: Use the CI formula to find the outstanding amount.

Challenge and get performance evaluation