Practice Test on Simple Interest

Math practice test on simple interest will help the children to learn how to calculate simple interest, principal, rate, time and amount. Before solving this practice worksheet on simple interest students can review the formula and then solved questions on simple interest.

Let's start practicing the different questions given on practice test on simple interest

1. Find the Principal when…..

(a) S.I. = $ 192      Rate = 6% per annum       Time = 4 years

(b) S.I = $ 20         Rate = 2% per annum       Time = 20 month

2. Find the Rate when…..

(a) Principal = $ 350        Time = 2¹/₂ years      S.I. = $ 140

(b) Principal = $ 9600       Time = 3 months       S.I = $ 72

3. Find the Time when…..

(a) Principal = $ 500       Rate = 7.5% p.a       S.I. = $ 150

(b) Principal = $ 700       Rate = 18% p.a.       S.I. = $ 78

4. Find the simple Interest and Amount

(a) Principal = $ 640         Rate = 12¹/₂%       Time = 6 months

(b) Principal = $10000       Rate = 18%           Time = 7 years

Word problems given on practice test on simple interest

5. Find the sum of money that amounts to $ 992 in 4 years at per annum.

6. What sum of money will earn an interest of $ 162 in 3 years at the rate of 12% per annum

7. At what rate per cent annum will a sum of money double itself in 6 year?

8. In what time will a sum of money double itself at 5 % per annum?

9. $ 4000 were lent each to Ron and Rob at 15% per annum for 3¹/₂ years and 5 years respectively. Find the difference in the interest paid by them.

10. Rocky lends $3000 to Ken at 10% per annum and the Ken lends the same sum to Mike at 12% per annum. Find Ken’s gain over a period of 3 years.

11. Divide $1750 into two part so that simple interest on the first when deposited for 2 years at 15% per annum and that on the second when deposited for 3 years at 16% per annum in a bank add to give the total interest of $624.

12. Find the simple interest on $6000 from 16 May 2010 to 9 October 2010 at 10% per annum.

13. What sum lent out at 6¹/₄% per annum produces the same simple interest in 2 years as $2100 lent out at 5% per annum produces in 16 months?

14. In how much time will S.I. on certain sum of money at 12¹/₂% per annum be ⁷/₄ of itself?

15. A certain sum amounts to $2200 in 2 years to $2800 in 4 years at simple interest. Find the sum and the rate per cent per annum.

16. A and B borrowed $3000 and $3500 respectively at the same rate of simple interest for 3 years. If B paid $150 more interest than A, find the rate of interest per annum. 

17. Simple interest on a certain sum is ⁴/₉ of the sum. Find the rate per cent and time if both are numerically equal. 


Answers for practice test on simple interest are given below to check the exact answers of the above question. 

Answers:

1. (a) $800              (b) $600

2. (a) 16%               (b) 3%

3. (a) 4 years           (b) ⁶/₇ years

4. (a) $40, $680       (b) $12600, $22600

5. $800

6. $450

7. 16²/₃ %

8. 6²/₃ years

9. $900

10. $180

11. $1200, $550

12. $240

13. $1120

14. 14 years

15. 18³/₄%

16. 10%

17. Time = 6²/₃ years, R = 6²/₃%

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