Start learning →

Simple interest is calculated on:

AThe amount budgeted
BThe amount bargained
CThe amount balanced
DThe amount borrowed
Answer & Solution
Correct answer: D. The amount borrowed
1. Nothing is added to the base as time passes. 2. That is what makes it simple. 3. It is calculated on the amount borrowed only. _Source: OpenStax 'Contemporary Mathematics', Ch 6 'Money Management' (CC BY)_
Practise this question with Quill — IBPS Clerk →

Keep practising Simple Interest

Browse all Simple Interest questions for IBPS Clerk, or explore more Quantitative Aptitude topics.

Start a Simple Interest lesson →
Related questions
Spot the one that does not fitDoes it raise the interest or lower it?Pick the right answer, quicklyFill the gaps on interestOrder the steps of a loan calculationTrue or false about simple interestWork out the simple interestMatch each term to what it means