Simple Interest Practice Test 23 is an easy short drill of 15 multiple-choice questions on simple interest, created by Xigma Academy for candidates preparing for bank PO, clerk and other banking recruitment exams. It is test 23 in the Simple Interest series on TestMint. This test is free to attempt.
What this test covers
- Simple Interest: 15 questions
Test details
| Questions | 15 |
|---|---|
| Duration | 25 minutes |
| Marks | 1 per question, 15 in total |
| Negative marking | None |
| Difficulty | Mostly easy |
| Access | Free |
A sample question from this test
Find the simple interest on ₹8500 at 10% per annum for 3 year(s).
- 3,060
- 2,550
- 2,805
- 2,295
Answer: B. 2,550. SI = (P × R × T) ÷ 100 = (8500 × 10 × 3) ÷ 100 = ₹2,550.
How to approach this test
Work out one year of interest first (principal × rate ÷ 100) and multiply by the number of years, converting months to years before you begin.
This set leans easy, so use it to confirm that you can solve the basic pattern accurately before you move to harder sets. At 15 questions in 25 minutes, you have about 100 seconds per question on average. After you submit, review every wrong or guessed answer using the explanations.
Keep practising
Continue with the Simple Interest practice page, all Banking mock tests, free mock tests, a guide to preparing this topic and how to review your mistakes.