SIMPLE INTEREST MCQ SET 1
1. How much simple interest will Rs.6,000 earn in 21 months at 8% per annum?
(a)Rs.750
(b)Rs.880
(c)Rs.620
(d)Rs.840
Answer: D
2. Find the simple interest on Rs.27,000 at 14 2/3% per annum for 8 months .
(a)2600
(b)2630
(c)2610
(d)2640
Answer: D
3. A sum of Rs.12,000 amounts to Rs.15,000 in 5 years at the rate of simple interest . What is the rate of interest per annum?
(a)8%
(b)7%
(c)6%
(d)5%
Answer: D
4. In how many years will a sum of Rs.2,500 invested at 16% simple interest become Rs.4,100?
(a)3
(b)5
(c)4
(d)6
Answer: C
5. A person invests Rs.9,840 at 5% per annum simple interest to obtain a total amount of Rs.12,300 . For how many years did he invest the sum?
(a)5 years
(b)4.5 years
(c)3.5 years
(d)3 years
Answer: A
6. The simple interest (in Rs. Rounded off to the tens place) on Rs.12,300 from 22 May 1993 to 2 August 1993 (both days are included) at theย rate of 12% per annum is:
(a)300
(b)200
(c)250
(d)350
Answer: A
7. Ashima borrowed Rs.75,000 from a nationalized bank on 26th March 2022 , at the rate of 9% per annum simple interest . If she cleared the account on 7th June of the same year , then what amount did she pay?
(a)Rs.75,000
(b)Rs.76,350
(c)Rs.1,350
(d)Rs.75,350
ย Answer: B
8. Archana took a loan of Rss.78,000 from a bank on 24th January 2012 at 8 ยพ% per annum simple interest and pain it back on 18th June 2012 . Find the total amount paid by Archana . (Approximated to nearest integer)
(a)Rs.80,723
(b)Rs.90,730
(c)Rs.85,733
(d)Rs.88,730
Answer: A
9. If the simple interest on a certain sum of money is Rs.7480 at the rate of 18 1/3% per annum for 4 years 3 months . Then find the principal?
(a)Rs.8400
(b)Rs.9600
(c)Rs.7200
(d)Rs.9000
Answer: B
10. If the simple interest at the same interest rate on Rs.500 for 4 years and Rs.700 for 2 years , combined together , is Rs.280 , then what is the rate of interest ?
(a)9 3/17%
(b)6 5/17%
(c)8 4/17%
(d)7 3/17%
Answer: C
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