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- Most Important Multiple Choice Questions
- Online Exercise on Interest with Correct Answer Key and Solutions
- Useful for all Competitive Exams
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Question 1 of 20
1. Question
What is the interest received on a principal of Rs 450 for 2 year if the interest received on Rs 1 after four year at the same rate of simple interest is Rs 0.40?
Hint
Interest on Rs 1 in 4 years = Rs 0.4
∴ Interest on Rs 100 in 4 years = Rs 40
∴ Interest on Rs 100 in 1 year = Rs 10
∴ Interest
=
= Rs 90 -
Question 2 of 20
2. Question
Ms. Sandhya deposits an amount of Rs 31,400 to obtain a simple interest at the rate of 12 per cent per annum for 8 years. What total amount will Ms. Sandhya get at the end of 8 years?
Hint
Simple Interest
=
=
∴ Required amount
= Rs (31400 + 30144) = Rs 61544
-
Question 3 of 20
3. Question
Mr. Deepak invested an amount of Rs 21,250 for 6 years. At what rate of simple interest will he obtain the total amount of Rs 26,350 at the end of 6 years?
Hint
Rate =
=
= 4% -
Question 4 of 20
4. Question
Arunima invests an amount of Rs 10,250@4% p.a. to obtain a total amount of Rs 12,710 on simple interest after a certain period. For how many year did she invest the amount to obtain the total sum?
Hint
SI = Rs (12710 – 10250)= Rs 2460
time =
=
years -
Question 5 of 20
5. Question
What would be the simple interest obtained on an amount of Rs 6,420 at the rate of 7% p.a. after 4 years?
Hint
Simple interest
=
-
Question 6 of 20
6. Question
Ms. Neelam deposits an amount of Rs 16420 at simple interest and obtained Rs 25451 at the end of 5 years. What was the rate of interest per year?
Hint
Interest = (25451 – 16420) = Rs 9031
=
= 11%
-
Question 7 of 20
7. Question
What would be the simple interest obtained on an amount of Rs 3460 at the rate of 8.5 per cent per annum after 6 years?
Hint
Simple interest
=
= Rs 1764.60
-
Question 8 of 20
8. Question
Girish invested a certain amount at the rate of 8% p.a. for 6 year to obtain an amount of Rs 28,046. How much amount did Girish obtain as simple interest?
Hint
Let the principal be = Rs 100
∴ Simple interest
=
= Rs 48 ∴ Amount (100 + 48) = Rs 148
∴ When the amount = Rs 148, the principal = Rs 100
∴ When amount = Rs 28046, the principal
=
× 28046 = Rs 18950∴ Simple interest
= (Rs 28046 – 18950) = Rs 9096
-
Question 9 of 20
9. Question
Ms. Maya deposits an amount of Rs 17,800 and obtained Rs 31,684 at the end of 6 years. What was the rate of simple interest per year?
Hint
Rate of Interest
=
=
= 13% -
Question 10 of 20
10. Question
What would be the simple interest obtained on an amount of Rs 5,580 at the rate of 6.5% p.a. after 5 years?
Hint
Required interest
= Rs
= Rs 1813.5
-
Question 11 of 20
11. Question
Mr. Anuraag Awasthi deposits an amount of Rs 56500 to obtain a simple interest at the rate of 12% p.a. for 3 years. What total amount will Mr. Anuraag Awasthi get at the end of 3 year?
Hint
Simple interest
=
= Rs
∴ Required amount
= Rs (56500 + 20340)
= Rs 76840
-
Question 12 of 20
12. Question
Veena obtained an amount of Rs 8, 376 as simple interest on a certain amount at 8% p.a. after 6 years. What is the amount invested by Veena?
Hint
Amount invested
=
= Rs 17450
-
Question 13 of 20
13. Question
The interest on sum of money at the end of 2½ years is ⅘ of the sum. The rate per cent per year is
Hint
-
Question 14 of 20
14. Question
The simple interest on Rs 200 for 7 months at 5 paise per rupee per month is
Hint
Rate = 5 paise per rupee = 5%
= Rs 70
-
Question 15 of 20
15. Question
What annual installment will discharge a debt of Rs 4,200 due in 5 years at 10% simple interest?
Hint
Shortcut method:
If borrowed amount be Rs M and it is to be paid in equal installments, then
where Y = no. of installments per annum, a = annual installment
Here, M = 4200, y = 1, r = 10, n = 5, a = ?
⇒
⇒ a = Rs 700
-
Question 16 of 20
16. Question
A person borrows Rs 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 6¼% p.a. for 2 years. Find his gain in the transaction per year.
Hint
Gain in 2 years
=
= Rs (625 – 400) = Rs 225.
∴ Gain in 1 year
=
= Rs 112.50
-
Question 17 of 20
17. Question
A certain amount earns simple interest of Rs 1750 after 7 years Had the interest been 2% more, how much more interest would it have earned?
Hint
We need to know the S.I., principal and time to find the rate.
Since the principal is not given, so data is inadequate.
-
Question 18 of 20
18. Question
What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?
Hint
Let the principal be P and rate of interest be R%.
Required ratio
=
-
Question 19 of 20
19. Question
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:Hint
Let the rate be R% p.a. Then,
-
Question 20 of 20
20. Question
The difference between the simple interest received from two different sources on Rs 1500 for 3 years is Rs 13.50. The difference between their rates of interest is:
Hint
