Simple Interest MCQ Set 2
SIMPLE INTEREST MCQ SET 2
1. A person deposited Rs.500 for 3 years , Rs.650 for 5 years , and Rs.1250 for 7 years , he received a total simple interest of Rs.1,620 . The rate of interest per annum is :
(a)12%
(b)13%
(c)10.8%
(d)11%
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Answer: A
2. A man deposited Rs.10,000 at simple interest in a fund . The interest rate on the fund increases by 4% every year . If the interest rate at the time of the amount deposit was 8% , what is the interest earned (in Rs) by him after 5 years?
(a)6,000
(b)8,400
(c)5,800
(d)8,000
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Answer: D
3. The simple interest of a sum of money in 6 years at the rate of 15% per annum is Rs.1,440 less than the simple interest accured on the same sum in 9 years at 18% per annum . What is the sum of money (in Rs.)?
(a)1,800
(b)2,000
(c)2,700
(d)2,400
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Answer: B
4. The amount received on a certain sum for 2 2/5 years at 15% p.a. simple interest is Rs.507 less then simple interest on the same sum for 9 ½ years at the same rate . The sum (in Rs.) is:
(a)8,000
(b)7,800
(c)7,400
(d)7,600
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Answer: B
5. If Seema invests Rs.17,650 in an account that yields 8.5% p.a. simple interest , then how much (to nearest Rs.) will she have after 5 years?
(a)21,551
(b)21,155
(c)25,115
(d)25,151
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Answer: D
6. A sum of money becomes 8/7 of itself in 2 years at a certain rate of simple interest . The rate per annum is :
(a)6 3/7%
(b)8 1/7%
(c)7 1/7%
(d)7 3/7%
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Answer: C
7. A person borrowed some money on simple interest . After 3 years , he returned 4/3 of the money to the lender . What was the rate of interest?
(a)11 2/9% p.a.
(b)11 4/9% p.a.
(c)11 3/9% p.a.
(d)11 1/9% p.a.
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Answer: D
8. A man took a loan of Rs.32,400 at a certain rate of simple interest per annum . The rate of interest is one-fourth of the number of years for which the loan is taken . If he paid Rs.11,664 as interest at the end of the loan period , the rate of interest was :
(a)3%
(b)8%
(c)5%
(d)12%
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Answer: A
9. The simple interest on a certain sum is one-eighth of the sum when the number of years is equal to half of the rate percentage per annum . Find the simple interest (in Rs.) on Rs.15,000 at the same rate of simple interest for 8 years .
(a)5800
(b)5000
(c)6000
(d)5250
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Answer: C
10. Simple interest on a certain sum is one – fourth of the sum and the interest rate per annum is four times the number of years . If the rate of interest increases by 2% , then how much will the simple interest (in Rs.) be on Rs.3600 for 6 years?
(a)2562
(b)2514
(c)2692
(d)2592
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Answer: D