Simple Interest - MCQ | Aptitude Test - Simple Interest
In simple interest, the interest amount is distributed uniformly on a sum (principal) borrowed for a certain period of time, unlike compound interest, where the interest accrues the initial principal and the accumulated interest from previous periods.
S.I = (P x R x T)/ 100
Where, P = Principal
R = Rate of interest per annum
T = Time in years
This article contains the MCQs on 'Simple Interest' that are fetched from previous competitive exams like Bank P.O, M.B.A, M.A.T, UPSC, etc.
Quantitative Aptitude Test - Simple Interest
The test consists of 19 questions on Simple Interest.
No negative marking for this test.
No Time limit
The pass percentage is 70%
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Submit the test to calculate your score once you are done with all the questions.
Complexity Level- Moderate
Q1. Calculate the simple interest on an
amount of Rs. 5760 at the rate of 6% per annum after 3 years
Q2: Hemant invests an amount of 9534 @ 4 p.c.p.a. to
obtain a total amount of Rs. 11442 on simple interest
after a certain period. For how many years did he
invest the amount to obtain the total sum?
Q3. Peter invested an amount of Rs. 21250 for 6 years. If he obtains a total sum of Rs. 26350 at the end of 6 years, then find the rate of simple interest.
Q4: A sum of Rs. 1600 gives a simple interest of 252
in 2 years and 4 months. The rate of interest per
annum is
Q5: At what rate of simple interest per annum can an
amount of Rs. 1553.40 be obtained on the principal
amount of Rs. 8630 after 3 years?
Q6: Given the combined simple interest on Rs. 600 for 4 years and on Rs. 600
for 2 years is Rs. 180, What will be the rate
of interest?
Q7: Vandita obtained an amount of Rs. 8376 as simple
interest on a certain amount at 8 p.c.p.a. after 6
years. What is the amount invested by Vandita?
Q8: The rate at which a sum becomes four times of itself
in 15 years at S.I., will be
Q9: A sum of money at simple interest doubles in
7 years. In how many years, it will become four times?
Q10: A sum of money becomes three times itself in 15 years 6 months.
In how many years would it double itself?
Q11: If a sum doubles in 6 years, how much will it be
in 8 years?
Q12: 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
Q13: A girl invested Rs. 5000 at some rate of simple interest
and Rs. 4000 at 1 percent higher rate of interest. If the
interest in both the cases after 4 years is same, the
rate of interest in the former case is
Q14: The rates of simple interest in two banks A and B
are in the ratio 5:4. A person wants to deposit his
total savings in two banks in such a way that he
received equal half-yearly interest from both. He
should deposit the savings in banks A and B in the
ratio
Q15: A sum was put at simple interest at a certain rate
for 3 years. Had it been put at 1% higher rate, it
would have fetched 5100 more. The sum is
Q16: A woman deposited Rs. 400 for 2 years, Rs. 550 for 4
years and Rs. 1200 for 6 years. She received the total
simple interest of Rs. 1020. The rate of interest per
annum is
Q17: At what annual rate of simple interest, an amount becomes double in 10 years?
Q18: A sum of money lent out at simple interest amounts
to Rs. 720 after 2 years and to Rs. 1020 after a further
period of 5 years. The sum is
Q19: A sum of money amounts to Rs. 5200 in 5 years and to Rs. 5680 in 7 years at simple interest. The rate interest per annum is