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The GRE Practice Test - Math - Simple Interest has been designed to test the important concepts related to simple interest. The test covers important topics like evaluating the simple interest on certain amount, determining the rate of interest, evaluating the time period in which certain amount doubles or triples itself etc.
1. At what time at 20% per annum will a sum of money double ?
a.3 % p.a.
b.5 % p.a.
c.1 % p.a.
d.7 % p.a.
 
2. At what rate percent per annum will a sum of money double in 18 years?
a.5.55 % p.a.
b.11.75 % p.a.
c.15.4 % p.a.
d.9.25 % p.a.
 
3. Find out the ratio of the simple interest earned by a certain amount, of the same rate of interest, for 3 years and 5 years.
a.1:5
b.3:5
c.1:3
d.0:5
 
4. Find out the ratio of simple interest earned by a certain amount, of the same rate of interest for 6 years and 10 years.
a.1:5
b.3:5
c.1:6
d.2:5
 
5. Find out the ratio of simple interest earned by a certain amount, of the same rate of interest for 4 years and10 years.
a.1:4
b.1:5
c.2:4
d.2:5
 
6. Find out the simple interest on Rs.6 for 3 months, at the rate of 2 paisa per rupee, per month.
a.0.36
b.0.63
c.1.36
d.1.04
 
7. In how many years will a sum of money double itself at 20% per annum?
a.1 year
b.4 years 8 months
c.3 years 6 months
d.5 years
 
8. In how many years will a sum of money double itself at 24% per annum?
a.1 year 3 months
b.1 year 8 months
c.4 years 2 months
d.4 years 3 months
 
9. At what rate percent of simple interest will a sum of money double itself in 24 years?
a.1/8%
b.25/6%
c.8/3%
d.1/4%
 
10. In how much time would the simple interest on a certain sum be 0.5 times the principal at 6% p.a.?
a.17/4 years
b.5/3 years
c.25/3 years
d.4/3 years
 
11. John borrowed $800 from a bank.He had a 18% rate and he borrowed the money for 1 year.What is his interest?
a.$144
b.$288
c.$145
d.$141
 
12. Julius borrowed $10 for 3 years.His simple interest is $6.What is his annual rate?
a.20%
b.10%
c.15%
d.23%
 
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