Simple Interest MCQs
Practice Simple Interest MCQs with answers and detailed solutions. Learn interest calculation, principal, rate of interest, time period, amount, installment-based questions, and real exam-level quantitative aptitude problems frequently asked in SSC, Railway, Banking, UPSC, JKSSB, Police, Defence, Teaching and other competitive exams.
Question #1
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The simple interest on a sum of Rs. 8000 for 3 years at 5% per annum is
Correct Answer: Option D
Explanation:
SI = (8000 × 5 × 3)/100 = 1200.
SI = (8000 × 5 × 3)/100 = 1200.
This question belongs to:
Maths
Simple Interest
Question #2
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A sum becomes Rs. 13500 in 3 years at 5% SI per annum. The principal is
Correct Answer: Option D
Explanation:
Interest = 13500 - P. SI = (P × 5 × 3)/100 = 13500 - P. Solving gives P = 12000.
Interest = 13500 - P. SI = (P × 5 × 3)/100 = 13500 - P. Solving gives P = 12000.
This question belongs to:
Maths
Simple Interest
Question #3
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The rate of interest at which Rs. 6000 gives Rs. 1200 interest in 4 years is
Correct Answer: Option A
Explanation:
R = (1200 × 100)/(6000 × 4) = 5%.
R = (1200 × 100)/(6000 × 4) = 5%.
This question belongs to:
Maths
Simple Interest
Question #4
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A sum of Rs. 5000 becomes Rs. 6200 in 3 years at simple interest. The rate percent per annum is
Correct Answer: Option C
Explanation:
SI = 1200. R = (1200 × 100)/(5000 × 3) = 8%.
SI = 1200. R = (1200 × 100)/(5000 × 3) = 8%.
This question belongs to:
Maths
Simple Interest
Question #5
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Simple interest on Rs. 1000 for 2 years at 6% is
Correct Answer: Option C
Explanation:
SI = (1000 × 6 × 2)/100 = 120.
SI = (1000 × 6 × 2)/100 = 120.
This question belongs to:
Maths
Simple Interest
Question #6
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In how many years will Rs. 4000 amount to Rs. 5200 at 6% simple interest?
Correct Answer: Option B
Explanation:
SI = 1200. T = (1200 × 100)/(4000 × 6) = 5 years.
SI = 1200. T = (1200 × 100)/(4000 × 6) = 5 years.
This question belongs to:
Maths
Simple Interest
Question #7
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The simple interest on a certain sum for 4 years at 8% is Rs. 640. The principal is
Correct Answer: Option C
Explanation:
P = (640 × 100)/(8 × 4) = 2000.
P = (640 × 100)/(8 × 4) = 2000.
This question belongs to:
Maths
Simple Interest
Question #8
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A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is
Correct Answer: Option D
Explanation:
Difference for 1 year = 39. SI for 3 years = 117. Principal = 815 - 117 = 698.
Difference for 1 year = 39. SI for 3 years = 117. Principal = 815 - 117 = 698.
This question belongs to:
Maths
Simple Interest
Question #9
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At what rate percent per annum will a sum of Rs. 7500 amount to Rs. 9000 in 4 years?
Correct Answer: Option D
Explanation:
SI = 1500. R = (1500 × 100)/(7500 × 4) = 5%.
SI = 1500. R = (1500 × 100)/(7500 × 4) = 5%.
This question belongs to:
Maths
Simple Interest
Question #10
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The interest on a sum of Rs. 2000 for 3 years at R% is Rs. 360. What is R?
Correct Answer: Option C
Explanation:
R = (360 × 100)/(2000 × 3) = 6.
R = (360 × 100)/(2000 × 3) = 6.
This question belongs to:
Maths
Simple Interest
