Class VIII

Steve invested $ 10,000 in a savings bank account that earned 2% simple interest. Find the interest earned if the amount was kept in the bank for 4 years.
  1. $900
  2. $100
  3. $800
  4. $620
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.
Find simple interest on Rs. 3000 at 7% rate of interest for one year.
  1. 200
  2. 210
  3. 230
  4. 195
Ryan bought $ 15,000 from a bank to buy a car at 10% simple Interest. If he paid $ 9,000 as interest while clearing the loan, find the time for which the loan was given.
  1. The loan was given for 6 years.
  2. The loan was given for 4 years.
  3. The loan was given for 8 years.
  4. The loan was given for 5 years.
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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