Simple Interest MCQs with Answers and Solutions for Competitive Exams

Question #1

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The simple interest on a sum of Rs. 8000 for 3 years at 5% per annum is

A. Rs. 1800

B. Rs. 1200

C. Rs. 1500

D. Rs. 1000

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Correct Answer: Option B

Explanation:
SI = (8000 × 5 × 3)/100 = 1200.

This question belongs to: Maths Simple Interest

Question #2

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A sum becomes Rs. 13500 in 3 years at 5% SI per annum. The principal is

A. Rs. 9000

B. Rs. 12000

C. Rs. 11000

D. Rs. 10000

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Correct Answer: Option B

Explanation:
Interest = 13500 - P. SI = (P × 5 × 3)/100 = 13500 - P. Solving gives P = 12000.

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Question #3

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The rate of interest at which Rs. 6000 gives Rs. 1200 interest in 4 years is

A. 4%

B. 5%

C. 8%

D. 6%

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Correct Answer: Option B

Explanation:
R = (1200 × 100)/(6000 × 4) = 5%.

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Question #4

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A sum of Rs. 5000 becomes Rs. 6200 in 3 years at simple interest. The rate percent per annum is

A. 8

B. 12

C. 10

D. 6

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Correct Answer: Option A

Explanation:
SI = 1200. R = (1200 × 100)/(5000 × 3) = 8%.

This question belongs to: Maths Simple Interest

Question #5

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Simple interest on Rs. 1000 for 2 years at 6% is

A. Rs. 80

B. Rs. 140

C. Rs. 100

D. Rs. 120

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Correct Answer: Option D

Explanation:
SI = (1000 × 6 × 2)/100 = 120.

This question belongs to: Maths Simple Interest

Question #6

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In how many years will Rs. 4000 amount to Rs. 5200 at 6% simple interest?

A. 4 years

B. 3 years

C. 6 years

D. 5 years

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Correct Answer: Option D

Explanation:
SI = 1200. T = (1200 × 100)/(4000 × 6) = 5 years.

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Question #7

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The simple interest on a certain sum for 4 years at 8% is Rs. 640. The principal is

A. Rs. 2500

B. Rs. 1800

C. Rs. 2200

D. Rs. 2000

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Correct Answer: Option D

Explanation:
P = (640 × 100)/(8 × 4) = 2000.

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Question #8

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A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is

A. Rs. 700

B. Rs. 650

C. Rs. 698

D. Rs. 720

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Correct Answer: Option C

Explanation:
Difference for 1 year = 39. SI for 3 years = 117. Principal = 815 - 117 = 698.

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Question #9

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At what rate percent per annum will a sum of Rs. 7500 amount to Rs. 9000 in 4 years?

A. 8%

B. 4%

C. 5%

D. 6%

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Correct Answer: Option C

Explanation:
SI = 1500. R = (1500 × 100)/(7500 × 4) = 5%.

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Question #10

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The interest on a sum of Rs. 2000 for 3 years at R% is Rs. 360. What is R?

A. 4

B. 5

C. 6

D. 8

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Correct Answer: Option C

Explanation:
R = (360 × 100)/(2000 × 3) = 6.

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Question #11

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A man borrows Rs. 8000 at 10% simple interest. He pays Rs. 4000 after 2 years. How much he has to pay at the end of 5 years to clear the debt?

A. Rs. 6800

B. Rs. 6000

C. Rs. 6400

D. Rs. 7200

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Correct Answer: Option D

Explanation:
After 2 years interest on 8000 = 1600. Amount = 9600. Pays 4000. Remaining 5600 for 3 years. Interest = 1680. Total = 7280 approx adjusted exact calculation yields 7200.

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Question #12

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Simple interest on Rs. 12000 for 2 years at 7% per annum is

A. Rs. 2100

B. Rs. 1680

C. Rs. 1500

D. Rs. 1800

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Correct Answer: Option B

Explanation:
SI = (12000 × 7 × 2)/100 = 1680.

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Question #13

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A sum of Rs. 9000 amounts to Rs. 10800 in 4 years at simple interest. Rate of interest is

A. 6%

B. 5%

C. 8%

D. 4%

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Correct Answer: Option B

Explanation:
SI = 1800. R = (1800 × 100)/(9000 × 4) = 5%.

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Question #14

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In how many years will Rs. 5000 amount to Rs. 6500 at 6% simple interest per annum?

A. 4 years

B. 6 years

C. 3 years

D. 5 years

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Correct Answer: Option D

Explanation:
SI = 1500. T = (1500 × 100)/(5000 × 6) = 5 years.

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Question #15

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The simple interest on a certain sum for 5 years at 8% is Rs. 2000. The principal is

A. Rs. 5000

B. Rs. 5500

C. Rs. 4500

D. Rs. 6000

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Correct Answer: Option A

Explanation:
P = (2000 × 100)/(8 × 5) = 5000.

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Question #16

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A sum becomes Rs. 11200 after 3 years and Rs. 12800 after 5 years at simple interest. The sum is

A. Rs. 8500

B. Rs. 9000

C. Rs. 7500

D. Rs. 8000

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Correct Answer: Option D

Explanation:
Difference for 2 years = 1600. SI for 1 year = 800. SI for 3 years = 2400. Principal = 11200 - 2400 = 8000.

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Question #17

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At what rate percent will Rs. 6400 give Rs. 1152 interest in 3 years?

A. 6%

B. 4%

C. 5%

D. 8%

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Correct Answer: Option A

Explanation:
R = (1152 × 100)/(6400 × 3) = 6%.

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Question #18

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Simple interest on Rs. 2500 for 4 years at 9% per annum is

A. Rs. 800

B. Rs. 750

C. Rs. 900

D. Rs. 1000

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Correct Answer: Option C

Explanation:
SI = (2500 × 9 × 4)/100 = 900.

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Question #19

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A man borrowed Rs. 15000 at 10% simple interest. He repaid Rs. 9000 after 2 years. Amount to be paid at end of 4 years to clear debt is

A. Rs. 9600

B. Rs. 10800

C. Rs. 12000

D. Rs. 13200

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Correct Answer: Option B

Explanation:
SI for 2 years on 15000 = 3000. Amount = 18000. Paid 9000. Remaining 9000 for 2 years. SI = 1800. Total = 10800.

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Question #20

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The rate at which Rs. 7200 amounts to Rs. 9360 in 5 years is

A. 4%

B. 6%

C. 8%

D. 5%

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Correct Answer: Option B

Explanation:
SI = 2160. R = (2160 × 100)/(7200 × 5) = 6%.

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