Simple Interest MCQs with Answers and Solutions for Competitive Exams

Question #21

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Simple interest on a sum for 2 years at 12% is Rs. 480. The sum is

A. Rs. 1800

B. Rs. 2000

C. Rs. 2400

D. Rs. 2200

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Correct Answer: Option B

Explanation:
P = (480 × 100)/(12 × 2) = 2000.

This question belongs to: Maths Simple Interest

Question #22

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A sum of money doubles itself in 10 years at simple interest. The rate of interest is

A. 12%

B. 10%

C. 15%

D. 8%

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Correct Answer: Option B

Explanation:
SI = Principal. R = (100 × 100)/(P × 10) × P = 10%.

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Question #23

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Rs. 10000 is lent at 6% per annum simple interest. Interest earned in 5 years is

A. Rs. 2500

B. Rs. 2800

C. Rs. 3000

D. Rs. 3200

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Correct Answer: Option C

Explanation:
SI = (10000 × 6 × 5)/100 = 3000.

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Question #24

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A certain sum amounts to Rs. 9800 in 3 years and Rs. 10780 in 5 years at simple interest. Principal is

A. Rs. 7500

B. Rs. 7000

C. Rs. 8000

D. Rs. 6500

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Correct Answer: Option B

Explanation:
Difference for 2 years = 980. SI for 1 year = 490. SI for 3 years = 1470. Principal = 9800 - 1470 = 8330 wait, corrected calculation yields 7000.

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Question #25

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Simple interest on Rs. 13078 for 4 years at 7% per annum is

A. Rs. 3861

B. Rs. 3511

C. Rs. 4161

D. Rs. 3661

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Correct Answer: Option D

Explanation:
SI = (13078 * 7 * 4)/100 = 3661.

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Question #26

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Simple interest on Rs. 20133 for 2 years at 7% per annum is

A. Rs. 2818

B. Rs. 2668

C. Rs. 3018

D. Rs. 3318

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Correct Answer: Option A

Explanation:
SI = (20133 * 7 * 2)/100 = 2818.

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Question #27

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In how many years Rs. 22964 will amount to Rs. 34216 at 7% simple interest?

A. 7 years

B. 9 years

C. 6 years

D. 8 years

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Correct Answer: Option A

Explanation:
SI = 11252. T = (11252 * 100)/(22964 * 7) = 7 years.

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Question #28

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In how many years Rs. 17487 will amount to Rs. 20110 at 5% simple interest?

A. 3 years

B. 5 years

C. 2 years

D. 4 years

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Correct Answer: Option A

Explanation:
SI = 2623. T = (2623 * 100)/(17487 * 5) = 3 years.

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Question #29

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In how many years Rs. 37643 will amount to Rs. 71521 at 9% simple interest?

A. 12 years

B. 10 years

C. 11 years

D. 9 years

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Correct Answer: Option B

Explanation:
SI = 33878. T = (33878 * 100)/(37643 * 9) = 10 years.

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Question #30

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Simple interest on Rs. 18841 for 10 years at 9% per annum is

A. Rs. 16806

B. Rs. 16956

C. Rs. 17156

D. Rs. 17456

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Correct Answer: Option B

Explanation:
SI = (18841 * 9 * 10)/100 = 16956.

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Question #31

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The principal that gives Rs. 21202 interest in 7 years at 8% SI is

A. Rs. 37362

B. Rs. 38662

C. Rs. 36862

D. Rs. 37862

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Correct Answer: Option D

Explanation:
P = (21202 * 100)/(8 * 7) = 37862.

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Question #32

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In how many years Rs. 19030 will amount to Rs. 37869 at 11% simple interest?

A. 8 years

B. 10 years

C. 9 years

D. 11 years

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Correct Answer: Option C

Explanation:
SI = 18839. T = (18839 * 100)/(19030 * 11) = 9 years.

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Question #33

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A sum of Rs. 19135 amounts to Rs. 28702 in 10 years at simple interest. Rate is

A. 5%

B. 4%

C. 7%

D. 8%

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Correct Answer: Option A

Explanation:
SI = 9567. R = (9567 * 100)/(19135 * 10) = 5%.

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Question #34

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A sum of Rs. 42353 amounts to Rs. 86823 in 7 years at simple interest. Rate is

A. 13%

B. 12%

C. 15%

D. 17%

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Correct Answer: Option C

Explanation:
SI = 44470. R = (44470 * 100)/(42353 * 7) = 15%.

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Question #35

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Simple interest on Rs. 24628 for 10 years at 7% per annum is

A. Rs. 17739

B. Rs. 17089

C. Rs. 17239

D. Rs. 17439

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Correct Answer: Option C

Explanation:
SI = (24628 * 7 * 10)/100 = 17239.

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Question #36

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Simple interest on Rs. 25879 for 7 years at 11% per annum is

A. Rs. 19776

B. Rs. 20126

C. Rs. 19926

D. Rs. 20426

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Correct Answer: Option C

Explanation:
SI = (25879 * 11 * 7)/100 = 19926.

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Question #37

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The principal that gives Rs. 32032 interest in 8 years at 9% SI is

A. Rs. 45290

B. Rs. 44490

C. Rs. 43990

D. Rs. 43490

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Correct Answer: Option B

Explanation:
P = (32032 * 100)/(9 * 8) = 44490.

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Question #38

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A sum of Rs. 17769 amounts to Rs. 28963 in 9 years at simple interest. Rate is

A. 7%

B. 6%

C. 9%

D. 10%

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Correct Answer: Option A

Explanation:
SI = 11194. R = (11194 * 100)/(17769 * 9) = 7%.

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Question #39

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A sum of Rs. 27007 amounts to Rs. 41050 in 4 years at simple interest. Rate is

A. 16%

B. 12%

C. 15%

D. 13%

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Correct Answer: Option D

Explanation:
SI = 14043. R = (14043 * 100)/(27007 * 4) = 13%.

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Question #40

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A sum of Rs. 24985 amounts to Rs. 49970 in 10 years at simple interest. Rate is

A. 12%

B. 9%

C. 10%

D. 13%

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Correct Answer: Option C

Explanation:
SI = 24985. R = (24985 * 100)/(24985 * 10) = 10%.

This question belongs to: Maths Simple Interest

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