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IBPS Clerk Simple Interest — practice questions

Explore 52 free Simple Interest questions in IBPS Clerk Quantitative Aptitude. Open each question or exercise to read its content, reference answers and available explanation.

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Simple Interest questions and exercises with answers

Showing questions 1–30 of 52.

The extra money a borrower pays back beyond the amount borrowed is:Read the answer and worked solution →Money earned by a depositor at a bank is also called:Read the answer and worked solution →The percent of principal paid as interest each year is the annual:Read the answer and worked solution →The length of time until a loan must be paid off is its:Read the answer and worked solution →The day a loan is issued is called the:Read the answer and worked solution →Simple interest differs from a plain percent calculation by also being:Read the answer and worked solution →The total a borrower must repay is often called the loan:Read the answer and worked solution →Interest paid to a lender is almost always rounded:Read the answer and worked solution →When the future value is paid out, the amount is typically rounded:Read the answer and worked solution →In the future value formula, the amount invested at the start is the:Read the answer and worked solution →A term given in months is converted to years by dividing by:Read the answer and worked solution →A term given in days is converted to years using a denominator of:Read the answer and worked solution →An investment reaching a future value of $1,100.50 ran for:Read the answer and worked solution →Someone who invests in a company's stock acts as the:Read the answer and worked solution →Match each term to what it namesRead the answer and worked solution →Sort each item by whose side it is onRead the answer and worked solution →True or false about simple interestRead the answer and worked solution →Order a simple interest calculationRead the answer and worked solution →Fill the gaps on simple interestRead the answer and worked solution →Rounded up, or rounded down?Read the answer and worked solution →Spot the one that does not fitRead the answer and worked solution →Pick the right answer, quicklyRead the answer and worked solution →The word percent comes from a Latin phrase meaning:Read the answer and worked solution →Any percent is a number divided by:Read the answer and worked solution →Can a percent be greater than 100?Read the answer and worked solution →The amount borrowed on which interest is charged is the:Read the answer and worked solution →The percent of principal paid as interest each year is the:Read the answer and worked solution →Simple interest is calculated on:Read the answer and worked solution →To find simple interest, the percent calculation is multiplied by the:Read the answer and worked solution →The principal plus the interest owed is called the loan:Read the answer and worked solution →

Worked practice questions

The extra money a borrower pays back beyond the amount borrowed is:

  1. Interest
  2. Increment
  3. Insurance
  4. Investment
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Correct answer: A. Interest

1. The borrower repays more than was borrowed. 2. The excess goes to the lender. 3. That excess is interest. _Source: OpenStax, Contemporary Mathematics, Ch 6 'Money Management'_

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Money earned by a depositor at a bank is also called:

  1. Inventory
  2. Interest
  3. Increment
  4. Insurance
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Correct answer: B. Interest

1. The depositor is in effect lending to the bank. 2. The bank pays for the use of that money. 3. What it pays is interest. _Source: OpenStax, Contemporary Mathematics, Ch 6 'Money Management'_

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The percent of principal paid as interest each year is the annual:

  1. Percentage range
  2. Percentage record
  3. Percentage rate
  4. Percentage ratio
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Correct answer: C. Percentage rate

1. It applies for each year the money is borrowed. 2. The larger the sum, the more must be repaid. 3. It is the annual percentage rate. _Source: OpenStax, Contemporary Mathematics, Ch 6 'Money Management'_

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More Quantitative Aptitude topics

PercentageInterestMensurationMultiplicationNumber PropertiesNumber SensePercentagesQuant Concepts