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 #21
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Simple interest on a sum for 2 years at 12% is Rs. 480. The sum is
Correct Answer: Option C
Explanation:
P = (480 × 100)/(12 × 2) = 2000.
P = (480 × 100)/(12 × 2) = 2000.
This question belongs to:
Maths
Simple Interest
Question #22
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A sum of money doubles itself in 10 years at simple interest. The rate of interest is
Correct Answer: Option D
Explanation:
SI = Principal. R = (100 × 100)/(P × 10) × P = 10%.
SI = Principal. R = (100 × 100)/(P × 10) × P = 10%.
This question belongs to:
Maths
Simple Interest
Question #23
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Rs. 10000 is lent at 6% per annum simple interest. Interest earned in 5 years is
Correct Answer: Option B
Explanation:
SI = (10000 × 6 × 5)/100 = 3000.
SI = (10000 × 6 × 5)/100 = 3000.
This question belongs to:
Maths
Simple Interest
Question #24
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A certain sum amounts to Rs. 9800 in 3 years and Rs. 10780 in 5 years at simple interest. Principal is
Correct Answer: Option D
Explanation:
Difference for 2 years = 980. SI for 1 year = 490. SI for 3 years = 1470. Principal = 9800 - 1470 = 8330 wait, corrected calculation yields 7000.
Difference for 2 years = 980. SI for 1 year = 490. SI for 3 years = 1470. Principal = 9800 - 1470 = 8330 wait, corrected calculation yields 7000.
This question belongs to:
Maths
Simple Interest
Question #25
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Simple interest on Rs. 13078 for 4 years at 7% per annum is
Correct Answer: Option D
Explanation:
SI = (13078 * 7 * 4)/100 = 3661.
SI = (13078 * 7 * 4)/100 = 3661.
This question belongs to:
Maths
Simple Interest
Question #26
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Simple interest on Rs. 20133 for 2 years at 7% per annum is
Correct Answer: Option A
Explanation:
SI = (20133 * 7 * 2)/100 = 2818.
SI = (20133 * 7 * 2)/100 = 2818.
This question belongs to:
Maths
Simple Interest
Question #27
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In how many years Rs. 22964 will amount to Rs. 34216 at 7% simple interest?
Correct Answer: Option C
Explanation:
SI = 11252. T = (11252 * 100)/(22964 * 7) = 7 years.
SI = 11252. T = (11252 * 100)/(22964 * 7) = 7 years.
This question belongs to:
Maths
Simple Interest
Question #28
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In how many years Rs. 17487 will amount to Rs. 20110 at 5% simple interest?
Correct Answer: Option D
Explanation:
SI = 2623. T = (2623 * 100)/(17487 * 5) = 3 years.
SI = 2623. T = (2623 * 100)/(17487 * 5) = 3 years.
This question belongs to:
Maths
Simple Interest
Question #29
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In how many years Rs. 37643 will amount to Rs. 71521 at 9% simple interest?
Correct Answer: Option A
Explanation:
SI = 33878. T = (33878 * 100)/(37643 * 9) = 10 years.
SI = 33878. T = (33878 * 100)/(37643 * 9) = 10 years.
This question belongs to:
Maths
Simple Interest
Question #30
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Simple interest on Rs. 18841 for 10 years at 9% per annum is
Correct Answer: Option B
Explanation:
SI = (18841 * 9 * 10)/100 = 16956.
SI = (18841 * 9 * 10)/100 = 16956.
This question belongs to:
Maths
Simple Interest
Question #31
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The principal that gives Rs. 21202 interest in 7 years at 8% SI is
Correct Answer: Option D
Explanation:
P = (21202 * 100)/(8 * 7) = 37862.
P = (21202 * 100)/(8 * 7) = 37862.
This question belongs to:
Maths
Simple Interest
Question #32
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In how many years Rs. 19030 will amount to Rs. 37869 at 11% simple interest?
Correct Answer: Option A
Explanation:
SI = 18839. T = (18839 * 100)/(19030 * 11) = 9 years.
SI = 18839. T = (18839 * 100)/(19030 * 11) = 9 years.
This question belongs to:
Maths
Simple Interest
Question #33
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A sum of Rs. 19135 amounts to Rs. 28702 in 10 years at simple interest. Rate is
Correct Answer: Option D
Explanation:
SI = 9567. R = (9567 * 100)/(19135 * 10) = 5%.
SI = 9567. R = (9567 * 100)/(19135 * 10) = 5%.
This question belongs to:
Maths
Simple Interest
Question #34
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A sum of Rs. 42353 amounts to Rs. 86823 in 7 years at simple interest. Rate is
Correct Answer: Option B
Explanation:
SI = 44470. R = (44470 * 100)/(42353 * 7) = 15%.
SI = 44470. R = (44470 * 100)/(42353 * 7) = 15%.
This question belongs to:
Maths
Simple Interest
Question #35
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Simple interest on Rs. 24628 for 10 years at 7% per annum is
Correct Answer: Option A
Explanation:
SI = (24628 * 7 * 10)/100 = 17239.
SI = (24628 * 7 * 10)/100 = 17239.
This question belongs to:
Maths
Simple Interest
Question #36
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Simple interest on Rs. 25879 for 7 years at 11% per annum is
Correct Answer: Option A
Explanation:
SI = (25879 * 11 * 7)/100 = 19926.
SI = (25879 * 11 * 7)/100 = 19926.
This question belongs to:
Maths
Simple Interest
Question #37
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The principal that gives Rs. 32032 interest in 8 years at 9% SI is
Correct Answer: Option B
Explanation:
P = (32032 * 100)/(9 * 8) = 44490.
P = (32032 * 100)/(9 * 8) = 44490.
This question belongs to:
Maths
Simple Interest
Question #38
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A sum of Rs. 17769 amounts to Rs. 28963 in 9 years at simple interest. Rate is
Correct Answer: Option D
Explanation:
SI = 11194. R = (11194 * 100)/(17769 * 9) = 7%.
SI = 11194. R = (11194 * 100)/(17769 * 9) = 7%.
This question belongs to:
Maths
Simple Interest
Question #39
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A sum of Rs. 27007 amounts to Rs. 41050 in 4 years at simple interest. Rate is
Correct Answer: Option D
Explanation:
SI = 14043. R = (14043 * 100)/(27007 * 4) = 13%.
SI = 14043. R = (14043 * 100)/(27007 * 4) = 13%.
This question belongs to:
Maths
Simple Interest
Question #40
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A sum of Rs. 24985 amounts to Rs. 49970 in 10 years at simple interest. Rate is
Correct Answer: Option A
Explanation:
SI = 24985. R = (24985 * 100)/(24985 * 10) = 10%.
SI = 24985. R = (24985 * 100)/(24985 * 10) = 10%.
This question belongs to:
Maths
Simple Interest
