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NIACL Administrative Officer Simple Interest — practice questions — page 2

Explore 50 free Simple Interest questions in NIACL Administrative Officer 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 31–50 of 50.

Order the steps: find simple interest and the amountRead the answer and worked solution →Assertion and reason: simple interestRead the answer and worked solution →Flip and pair: term with meaningRead the answer and worked solution →Two are true, one is notRead the answer and worked solution →Reading an interest problemRead the answer and worked solution →Tap every statement true of simple interestRead the answer and worked solution →Which quantity does this describe?Read the answer and worked solution →More simple interestRead the answer and worked solution →True or false: what changes and what does notRead the answer and worked solution →Order the steps: total repayment under simple interestRead the answer and worked solution →Complete the simple interest pictureRead the answer and worked solution →Assertion and reason: simple interestRead the answer and worked solution →Two are true, one is notRead the answer and worked solution →Spot the odd one outRead the answer and worked solution →Tap every statement true of simple interestRead the answer and worked solution →Flip and pair: quantity with descriptionRead the answer and worked solution →Naming the partsRead the answer and worked solution →True or false: interest in everyday lifeRead the answer and worked solution →Paid to you, or paid by you?Read the answer and worked solution →Three of these are wrong. Find the one that holds.Read the answer and worked solution →

Worked practice questions

Order the steps: find simple interest and the amount

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Steps
  1. Take the original principal
  2. Apply the rate to it to get one year's interest
  3. Multiply by the number of years
  4. That total is the simple interest
  5. Add it to the principal to get the amount
Rate on the principal, then multiply by the years. Source: syllabus Maths, Ch 7 Comparing Quantities.

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Assertion and reason: simple interest

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Questions
  1. Reason
    It is always worked out on the unchanging original principal.
    Verdict
    Both are true; the reason explains the assertion.
    Assertion
    Simple interest is identical in every year of the term.
  2. Reason
    Amount is defined as principal plus interest.
    Verdict
    Both are true; the reason explains the assertion.
    Assertion
    The amount exceeds the principal.
  3. Reason
    Interest is extra money paid on a deposited sum.
    Verdict
    The assertion is false and the reason is true.
    Assertion
    Simple interest grows year on year.
The reason must genuinely explain the assertion. Source: syllabus Maths, Ch 7 Comparing Quantities.

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Flip and pair: term with meaning

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Matching pairs
  1. A
    Principal
    B
    the sum originally deposited or borrowed
  2. A
    Rate
    B
    the percentage charged per annum
  3. A
    Interest
    B
    the extra money paid
  4. A
    Amount
    B
    principal plus interest
  5. A
    Per annum
    B
    for each year
The vocabulary of interest. Source: syllabus Maths, Ch 7 Comparing Quantities.

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