Simple interest on Rs. 1062000 for 2 years at 31% per annum is MCQ with Answer and Explanation

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Simple interest on Rs. 1062000 for 2 years at 31% per annum is

A. Rs. 658640

B. Rs. 658440

C. Rs. 658840

D. Rs. 658240

Answer: Option B

Solution (By JKExamLibrary)

SI = (1062000 × 31 × 2)/100 = 658440.

This question belongs to: Maths Simple Interest

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Practice More Simple Interest Questions

Question #1

Principal for Rs. 268800 interest in 8 years at 12%

A. Rs. 279000

B. Rs. 280000

C. Rs. 278000

D. Rs. 281000

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Correct Answer: Option B

Explanation:
P = (268800 * 100)/(12 * 8) = 280000.

This question belongs to: Maths Simple Interest

Question #2

The rate at which Rs. 1863000 amounts to Rs. 2421900 in 3 years is

A. 9%

B. 8%

C. 12%

D. 10%

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Correct Answer: Option D

Explanation:
SI = 558900. R = (558900 × 100)/(1863000 × 3) = 10%.

This question belongs to: Maths Simple Interest

Question #3

At what rate will Rs. 28000 amount to Rs. 36400 in 5 years?

A. 5%

B. 7%

C. 8%

D. 6%

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Correct Answer: Option D

Explanation:
SI = 8400. R = (8400 × 100)/(28000 × 5) = 6%.

This question belongs to: Maths Simple Interest

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