Class VIII

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
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
Find simple interest on Rs. 3000 at 7% rate of interest for one year.
  1. 200
  2. 210
  3. 230
  4. 195
You deposit $350 into a bank account paying 1.2% simple interest per month. If you receiver $9 as interest, find the time for which the money stayed at the bank.
  1. Money stayed at the bank 5 months and 5 days.
  2. Money stayed at the bank 10 months and 5 days.
  3. Money stayed at the bank 2 months and 5 days.
  4. Money stayed at the bank 3 months and 5 days.
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.
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