You deposit $600 into a 6 month certificate of deposit. After 6 months the balance is $618. Find the simple annual interest rate
A. 6%
B. 5%
C. 7%
D. 8%
Interest Mcqs
A man invests a certain sum of money at 6% per annum simple interest and another sum at 7% per annum simple interest. His income from interest after 2 years was Rs. 354. One-forth of the first sum is equal to one-fifth of the second sum. The total sum invested was :
A. Rs.3100
B. Rs.2700
C. Rs.2200
D. Rs.1800
A sum was put a simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, it would have fetched Rs. 60 more. The sum is:
A. Rs.750
B. Rs.700
C. Rs.940
D. Rs.820
Rs. 800 amounts to Rs. 920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to how much ?
A. Rs. 992
B. Rs. 1112
C. Rs. 1056
D. Rs. 1182
A trader owes a merchant Rs. 10,028 due 1 year hence. The trader wants to settle the account after 3 months. If the rate of interest 12% per annum, how much cash should he pay?
A. Rs. 9025.20
B. Rs. 9200
C. Rs. 9600
D. Rs. 9560