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Class 7 Simple Interest — practice questions with answers

Comparing Quantities · 5 sample questions from the school syllabus. Try each one, then open the answer and the worked solution.

1. Which formula gives the Simple Interest?
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Answer: A) S.I. = (P × R × T) / 100
Simple Interest = (Principal × Rate × Time) / 100, where Rate is per cent per annum and Time is in years.
2. Find the rate per annum if ₹2000 earns ₹240 simple interest in 2 years.
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Answer: A) 6%
R = (S.I. × 100)/(P × T) = (240 × 100)/(2000 × 2) = 24000/4000 = 6%.
3. Which earns more simple interest in 1 year: ₹2000 at 6% or ₹3000 at 4%?
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Answer: A) Both are equal at ₹120
₹2000 at 6%: (2000×6×1)/100 = ₹120. ₹3000 at 4%: (3000×4×1)/100 = ₹120. Both equal ₹120.
4. At 8% per annum simple interest, in how many years will a sum of money double itself?
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Answer: A) 12.5 years
To double, S.I. = P. Take P = 100, S.I. = 100, R = 8. T = (100×100)/(100×8) = 10000/800 = 12.5 years.
5. The simple interest on a certain sum for 3 years at 8% per annum is ₹180 more than the interest on the same sum for 2 years at 9% per annum.
Find the sum.
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Answer: C) 3000
Let P be the sum. (P×8×3)/100 − (P×9×2)/100 = 180 → (24P − 18P)/100 = 180 → 6P/100 = 180 → P = 18000/6 = ₹3000.
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