Question Paper
Class / Subject: Class 7 (ICSE) · Mathematics
Chapter: Chapter 9 — Chapter 9: Simple Interest
Time Allowed: 32 minutes
Max Marks: 16
1. What is the simple interest formula? [1]
(A) I = (P × R × T) ÷ 100
(B) I = P + R + T
(C) I = P × R × T
(D) I = P ÷ R ÷ T
2. What does P represent? [1]
(A) Principal (the original amount)
(B) Percentage always
(C) Profit
(D) Payment
3. What does R represent? [1]
(A) Rate of interest
(B) Rupees
(C) Ratio
(D) Result
4. What does T represent? [1]
(A) Time (usually in years)
(B) Total amount
(C) Tax
(D) Type of loan
5. What is the interest on ₹1000 at 5% for 2 years? [1]
(A) ₹100
(B) ₹50
(C) ₹1000
(D) ₹200
6. What is the interest on ₹2000 at 10% for 1 year? [1]
(A) ₹200
(B) ₹2000
(C) ₹20
(D) ₹2020
7. Why learn simple interest? [1]
(A) For informed savings and loan decisions
(B) No reason
(C) It's not useful
(D) Only for tests
8. What is the interest on ₹500 at 4% for 3 years? [1]
(A) ₹60
(B) ₹20
(C) ₹500
(D) ₹504
9. What is the simple interest formula? [1]
(A) I = (P × R × T) ÷ 100
(B) I = P + R + T
(C) I = P × R × T
(D) I = P ÷ R ÷ T
10. What does P represent? [1]
(A) Principal (the original amount)
(B) Percentage always
(C) Profit
(D) Payment
11. What does R represent? [1]
(A) Rate of interest
(B) Rupees
(C) Ratio
(D) Result
12. What does T represent? [1]
(A) Time (usually in years)
(B) Total amount
(C) Tax
(D) Type of loan
13. What is the interest on ₹1000 at 5% for 2 years? [1]
(A) ₹100
(B) ₹50
(C) ₹1000
(D) ₹200
14. What is the interest on ₹2000 at 10% for 1 year? [1]
(A) ₹200
(B) ₹2000
(C) ₹20
(D) ₹2020
15. Why learn simple interest? [1]
(A) For informed savings and loan decisions
(B) No reason
(C) It's not useful
(D) Only for tests
16. What is the interest on ₹500 at 4% for 3 years? [1]
(A) ₹60
(B) ₹20
(C) ₹500
(D) ₹504