You have split this in the wrong place. "bound for Paris" is a phrase that modifies "train". It means that the final destination of the train was Paris.
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JumanahIs "bound" in this sentence "simple past"?No, it's an adjective.
JumanahIs "Frankfurt" a city ?Yes, it's a city in Germany.
JumanahIs "bound" in this sentence "simple past"?"bound for ~" is an idiomatic phrase. This "bound" is apparently etymologically a past participle of a defunct verb, now treated as an adjective. As far as I can tell, it has no etymological connection with the past tense or past participle of the verb "bind", which I guess is what you are referring to.
JumanahThis train is bound for Paris. Is it correct?Yes. bound for ~ going to ~ on the way to