Class VIII

You deposit \$1000 into a bank account and received \$50 simple interest after 3 months. What had been the interest rate?
1. The interest rate was 20% per year.
2. The interest rate was 25% per year.
3. The interest rate was 50% per year.
4. The interest rate was 10% per year.
In how much time will the simple interest on \$3,500 at the rate of 9% p.a be the same as simple interest on \$4,000 at 10.5% p.a for 4 years?
1. Time = t = 3.33 years.
2. Time = t = 4.33 years.
3. Time = t = 5 years.
4. Time = t = 5.33 years.
You deposit \$12000 into a bank account paying 1.5% simple interest per month. You left the money in for 210 days. Find the interest earned and the amount.
1. The interest is \$1242.734 and the amount is \$13242.734.
2. The interest is \$1242.734 and the amount is \$1325.2546
3. The interest is \$4212.734 and the amount is \$13242.734.
4. The interest is \$1242.734 and the amount is \$132.25
You deposit \$1000 into a bank account paying 7% simple interest per year. You left the money in for 3 years. Find the interest earned and the amount at the end of those 3 years?
1. The interest is \$210 and the amount is \$1200.
2. The interest is \$200 and the amount is \$1210.
3. The interest is \$210 and the amount is \$1210.
4. The interest is \$222 and the amount is \$1250.
Dick takes a loan of \$8,000 to buy a used truck at the rate of 9 % simple Interest.Calculate the annual interest to be paid for the loan amount.
1. Annual Interest to be paid = \$720
2. Annual Interest to be paid = \$800
3. Annual Interest to be paid = \$700
4. Annual Interest to be paid = \$690
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