Simple Interest MCQ Set 1

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

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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

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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%

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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

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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

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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 the  rate of 12% per annum is:

(a)300

(b)200

(c)250

(d)350

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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

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 Answer: B

8. Archana took a loan of Rss.78,000 from a bank on 24th January 2012 at 8 ¾% 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

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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

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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%

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Answer: C