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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