# Class 8 Maths Simple Interest Online Test

Simple Interest is a very important chapter in ICSE Class 8 maths and CBSE Class 8 Maths. Take this Class 8 Maths Simple Interest Online Test here. Online quiz on Simple Interest will increase the confidence in students and students will never hesitate to do the sums on Simple Interest. Online Quiz on Simple Interest is provided by The Brainbox Tutorials. The quiz has multiple choice questions on Simple Interest. ICSE Class 8 students as well as CBSE Class 8 students will be benefitted by this online quiz on Simple Interest.

## What is Interest?

Whenever a person borrows a sum from another person or bank for a particular period, the borrower has to pay the lender an amount which is more than the amount borrowed. This extra amount above the repayment of the actual amount is known as Interest.

## Simple Interest

Simple interest, as the name suggests, is a simple method to calculate interest. Generally, we use a formula to calculate Simple interest.Before knowing the formula one must be acquainted with a few terms associated with simple interest.

### Principal

The money borrowed or lent is called the principal. It is usually denoted by P.

### Time

‘The time period for which the amount of money is borrowed or lent. It is donated by T or t.

## Rate of Interest

The rate at which the interest is calculated on the loan or investment. It can be per annum, per month, per day, etc. It is denoted by R or r.

## Important Formulas of the chapter Simple Interest

The following formulas would be helpful in the Class 8 Maths Simple Interest Online Test.

### Amount Formula

Amount = Principal + Simple Interest

A = P + SI

## Class 8 Maths Simple Interest Online Test

Below are the quiz and the rules to be followed while performing this online test quiz.
You can go through the tutorial of this chapter in video form to understand the concept clearly. Here is the link to the video tutorial.

Video tutorial on Simple Interest Class 8 maths

### Rules For The Quiz:

• This quiz has 10 multiple-choice questions.
• Each sum has 2 marks.
• So the maximum marks of this test are 20.
• There is no time limit.
• You should be ready with a pen and copy in your hand to solve the sums.
• keep your Maths book away from you. This is the test of your memory. So do not take the help of the Maths book.
• The correct answer and explanation are provided at the end of this quiz.

Do share your score of this quiz in the comments section below.
Happy learning. Say yes to maths.

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