Simple and Compound Interest - Practice Problems with Solutions
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Q. A person borrows $5000 at a rate of 8% per annum for 3 years. What is the total interest paid?
Q. A sum of $1500 is invested at a simple interest rate of 4% per annum. What will be the total amount after 5 years?
Q. A sum of $800 is invested at a rate of 5% per annum. What will be the total amount after 3 years using simple interest?
Q. If $1000 is invested at a compound interest rate of 6% per annum, what will be the amount after 2 years?
Q. If a person invests $1000 at a compound interest rate of 8% per annum, what will be the amount after 1 year?
Q. If a sum of money is invested at a compound interest rate of 5% per annum, how long will it take for the investment to double?
Q. What is the compound interest on $2000 at a rate of 10% per annum for 3 years?
Q. What is the simple interest on a principal of $2500 at a rate of 6% per annum for 4 years?
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