Simple Interest MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on Simple Interest, a fundamental topic in the field of Aptitude. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our Simple Interest MCQs are designed to help you grasp the core concepts and excel in solving problems.

In this section, you'll find a wide range of Simple Interest mcq questions that explore various aspects of Simple Interest problems. Each MCQ is crafted to challenge your understanding of Simple Interest principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace Aptitude tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our Simple Interest MCQs are your pathway to success in mastering this essential Aptitude topic.

Note: Each of the following question comes with multiple answer choices. Select the most appropriate option and test your understanding of Simple Interest. You can click on an option to test your knowledge before viewing the solution for a MCQ. Happy learning!

So, are you ready to put your Simple Interest knowledge to the test? Let's get started with our carefully curated MCQs!

Simple Interest MCQs | Page 1 of 2

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Q1.
A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is:

a.

Rs. 650

b.

Rs. 690

c.

Rs. 698

d.

Rs. 700

Discuss
Answer: (c).Rs. 698
Q2.
Mr. Thomas invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B?

a.

Rs. 6400

b.

Rs. 6500

c.

Rs. 7200

d.

Rs. 7500

Discuss
Answer: (a).Rs. 6400
Q3.
A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum?

a.

Rs. 4462.50

b.

Rs. 8032.50

c.

Rs. 8900

d.

Rs. 8925

Discuss
Answer: (d).Rs. 8925
Q4.
How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?

a.

3.5 years

b.

4 years

c.

4.5 years

d.

5 years

Discuss
Answer: (b).4 years
Q5.
Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?

a.

3.6

b.

6

c.

18

d.

Cannot be determined

Discuss
Answer: (b).6
Q6.
A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?

a.

3%

b.

4%

c.

5%

d.

6%

Discuss
Answer: (d).6%
Q7.
An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes:

a.

10%

b.

10.25%

c.

10.5%

d.

None of these

Discuss
Answer: (b).10.25%
Q8.
A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is:

a.

5%

b.

7%

c.

7(1/8)%

d.

10%

Discuss
Answer: (d).10%
Q9.
A sum of Rs. 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both the loans. What was the original rate of interest?

a.

3.6%

b.

4.5%

c.

5%

d.

None of these

Discuss
Answer: (d).None of these
Q10.
A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:

a.

Rs. 2000

b.

Rs. 10,000

c.

Rs. 15,000

d.

Rs. 20,000

Discuss
Answer: (c).Rs. 15,000
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