--- type: Quiz title: "Simple Interest – MCQ Practice Set for Mathematics" canonical: "https://www.easy2crack.com/mcqs/simple-interest/simple-interest-mcq-practice-set-for-mathematics" subject: simple-interest questions: 56 free: true updated: null tags: ["mcq", "practice", "simple-interest"] --- # Simple Interest – MCQ Practice Set for Mathematics 56 multiple-choice questions with answers. ## Q1. On simple interest, a certain sum becomes Rs. 59,200 in 6 years and Rs. 72,000 in 10 years. If the rate of interest had been. 2% more, then in how many years would the sum have become Rs. 76,000? A. 10 B. 9 C. 8 D. 7 **Answer:** b ## Q2. The simple interest on a certain sum is one-eighth of the sum when the number of years is equal to half of the rate percentage per annum. Find the simple interest (in Rs.) on Rs.15,000 at the same rate of simple interest for 8 years. A. 5800 B. 5000 C. 6000 D. 5250 **Answer:** c ## Q3. A certain sum on simple interest becomes Rs. 49,600 in 3 years and Rs. 56,000 in 5 years. If the rate of interest had been 2% more, then in how many years would the sum have doubled? A. 10 B. 8 C. 12 D. 20 **Answer:** a ## Q4. Simple interest on a certain sum is one-fourth of the sum and the interest rate percentage per annum is 4 times the number of years. If the rate of interest increases by 2%, then what will be the simple interest (in Rs.) on Rs. 5000 for 3 years? A. 300 B. 1500 C. 2000 D. 1800 **Answer:** d ## Q5. If Seema invests Rs.17,650 in an account that yields 8.5% p.a. simple interest, then how much (to nearest Rs.) will she have after 5 years? A. 21551 B. 21155 C. 25115 D. 25151 **Answer:** d ## Q6. A sum of Rs.17,200 is lent out at simple interest in two parts for 2 years at 8% p.a. and 10% p.a., respectively. If the total interest received after 2 years is Rs.3,008, then the money lent (in Rs.) at the rate of 8% p.a. is: A. 9200 B. 10800 C. 6400 D. 9800 **Answer:** b ## Q7. Anil lent a sum of Rs.5,000 on simple interest for 10 years in such a way that the rate of interest is 6% per annum for the first 2 years, 8% per annum for the next 2 years and 10% per annum beyond 4 years. How much interest (in Rs.) will he earn at the end of 10 years? A. 5000 B. 4400 C. 4200 D. 3500 **Answer:** b ## Q8. A borrows a sum of Rs.90,000 for 4 years at 5% simple interest. He lends it to B at 7% for 4 years at simple interest. What is his gain (in Rs.)? A. 8000 B. 7200 C. 7500 D. 9000 **Answer:** b ## Q9. If the amount obtained by A by investing Rs 9,100 for three years at a rate of 10% p.a. on simple interest is equal to the amount obtained by B by investing a certain sum of money for five years at a rate of 8% p.a. on simple interest, then 90% of the sum invested by B (in Rs) is: A. 7800 B. 7605 C. 8540 D. 8450 **Answer:** b ## Q10. A sum of money at simple interest amounts to Rs 6,000 in 4 years and to Rs 6,750 in 7 years at the same rate per cent p.a. of interest. The sum (in.) is: A. 5100 B. 4800 C. 4000 D. 5000 **Answer:** d ## Q11. A sum of Rs 8,400 amounts to Rs 11,046 at 8.75% p.a. simple interest in a certain time. What will be the simple interest (in Rs) on a sum of Rs 10,800 at the same rate for the same time? A. 3402 B. 3204 C. 3024 D. 3420 **Answer:** a ## Q12. A sum of .5,000 is divided into two parts such that the simple interest on the first part for 4 1/5 years at 6 2/3 % p.a. is double the simple interest on the second part for 2 3/4 years at 4% p.a. The ratio of the second part to the first part is: A. 0.4681 B. 0.4674 C. 0.591 D. 0.5493 **Answer:** c ## Q13. A sum of Rs.50,250 is divided into two parts such that the simple interest on the first part for 7 1/2 years at 8 1/3 % p.a. is 5/2 times the simple interest on the second part for 5 1/4 years at 8% p.a. What is the difference (in Rs.) between the two parts? A. 10275 B. 12750 C. 12570 D. 15270 **Answer:** b ## Q14. The rate of simple interest for first two years is 8% p.a., for the next 4 years, it is 10% p.a. and for the period beyond 6 years, it is 12% p.a. If a person gets Rs 18358.60 as simple interest after 9 years, then how much money (in Rs) did he invest? A. 21075 B. 20087 C. 19674 D. 19955 **Answer:** d ## Q15. Two equal sums were lent on simple interest at 6% and 10% per annum respectively. The first sum was recovered two years later than the second sum and the amount in each case was Rs1105. What was the sum (in Rs) lent in each scheme? A. 900 B. 850 C. 936 D. 891 **Answer:** b ## Q16. A sum at a certain rate of simple interest becomes Rs. 14880 after 3 years and Rs, 16800 after 5 years. Find the simple interest on the same sum at 10% per annum for 4 years (in Rs.) A. 4740 B. 4800 C. 4860 D. 5184 **Answer:** b ## Q17. A sum of money was lent in two parts in the ratio 4 : 5 for 4 years and 5 years respectively, both at the rate of 8% per annum simple interest. If the difference between the interests earned from the two parts is Rs 4680, then what was the total sum lent (in Rs ) ? A. 58500 B. 46800 C. 65000 D. 42120 **Answer:** a ## Q18. A certain sum amounts of Rs 81840 in 3 years and to Rs 92400 in 5 years at x% p.a. under simple interest. If the rate of interest is becomes (x+2)%, then in how many years will the same sum double itself ? A. 12.5 B. 8 C. 10 D. 20 **Answer:** c ## Q19. A sum of Rs 25600 is invested on simple interest partly at 7% per annum and the remaining at 9% per annum. The total interest at the end of 3 years is Rs 5832. How much money (in Rs ) was invested at 9% per annum? A. 18000 B. 7600 C. 9600 D. 16000 **Answer:** b ## Q20. If the simple interest on a certain sum of money borrowed for 4 years at 9.5% per annum exceeds the simple interest on the same sum for 3 years at 12.5% per annum by Rs 225, then the sum borrowed is: A. Rs 42,000 B. Rs 48,000 C. Rs 35,000 D. Rs 45,000 **Answer:** d ## Q21. A sum of money lent at simple interest amounts to Rs 9,920 after 2 years and to Rs 12,800 after 5 years. Find the rate of interest per annum. A. 0.12 B. 0.0657 C. 0.18 D. 0.0968 **Answer:** a ## Q22. The 12% interest earned on a sum of money of Rs 2,60,000 is to be used for awarding 24 scholarships of equal value every year in a school. What is the value (in Rs) of each scholarship? A. 1250 B. 1300 C. 1150 D. 1200 **Answer:** b ## Q23. The difference between the simple interest on a fixed amount for 7 years and on the same amount for 12 years is Rs 2,500. If the rate of interest is 10% p.a., then the amount is: A. Rs 6,000 B. Rs 4,500 C. Rs 5,500 D. Rs 5,000 **Answer:** d ## Q24. A certain sum of money amounts to Rs 9,766 in 3 years at simple interest at R% per annum and to Rs 10,849 in 4 1/2 years at the same rate of simple interest. The value of R is: A. 9.5 B. 8.5 C. 9 D. 8 **Answer:** a ## Q25. In how much time will a sum of Rs 5,000 invested at the rate of 15% simple interest per annum amount to Rs 6,500? A. 1 years B. 2 years C. 2.5 years D. 1.5 years **Answer:** b ## Q26. A man invested Rs 2,400 at 5% and Rs 5,400 at 9% simple interest. What amount (in Rs) will he get from his investments after 6 years? A. 11436 B. 31200 C. 45600 D. 83136 **Answer:** a ## Q27. Aman invests an amount of Rs 1,05,750 at simple interest in the name of his son, daughter and his wife in such a way that they get the same interest after 3, 4 and 5 years, respectively. If the rate of interest is 5% per annum, then the amount invested for the wife is: A. Rs 25,000 B. Rs 28,000 C. Rs 27,000 D. Rs 30,000 **Answer:** c ## Q28. What is the simple interest on a sum of Rs 99,000 at 12 1/2 % per annum for a period of 9 months? A. Rs 8,281.25 B. Rs 9,282.25 C. Rs 7,281.25 D. Rs 9,281.25 **Answer:** d ## Q29. If the simple interest for 9 years be equal to 45% of the principal, then the rate of interest per annum is equal to: A. 0.06 B. 0.08 C. 0.05 D. 0.09 **Answer:** c ## Q30. A sum of Rs 4,000 amounts to Rs 5,008 in three years at simple interest at the rate of x% per annum. If the interest rate becomes (x + 2.6)%, then the revised maturity amount will be: A. Rs 5,320 B. Rs 5,330 C. Rs 5,420 D. Rs 5,200 **Answer:** a ## Q31. In how many years, will Rs. 5,450 amount to Rs. 8,175, if invested at simple interest at the rate of 12.5% per annum ? A. 6 B. 3 C. 5 D. 4 **Answer:** d ## Q32. A sum of Rs. x amounts to Rs. 9,246 in 4 years and to Rs. 11,298.75 in 7 1/2 years, at y% p.a. simple interest. The values of x and y are, respectively: A. 6900 and 8.5 B. 6800 and 8.5 C. 6500 and 8 D. 7200 and 7.5 **Answer:** a ## Q33. A sum of Rs. x amounts to Rs. 8,563.50 in 3 1/2 years and to Rs. 10,527 in 7 years at y% p.a. simple in interest. The value of x and y, respectively, are: A. 6600 and 8 1/2 B. 6600 and 8 C. 6800 and 8 1/2 D. 7000 and 8 **Answer:** a ## Q34. The simple interest earned on a sum is 1/25 of the sum, where the number of years of investment is equal to the rate percentage. For how many years was the sum invested? A. 5 B. 2 C. 4 D. 3 **Answer:** b ## Q35. A certain sum of money becomes 4 times in 12 years when invested at simple interest. In how many years will it become 10 times of itself at the same rate? A. 60 B. 48 C. 24 D. 36 **Answer:** d ## Q36. A certain sum amounts to Rs15,748 in 3 years at r % p.a. simple interest. The same sum amounts to Rs 16,510 at (r + 2) % p.a. simple interest in the same time. What is the value of r? A. 8 B. 9.5 C. 9 D. 8.5 **Answer:** a ## Q37. A sum was invested at simple interest at x% p.a. for 2 1/2 years. Had it been invested at (x + 3)% for the same time, it would have fetched Rs 585 more. The simple interest on the same sum for 4 2/3 years at 14% p.a. is: A. Rs 4,732 B. Rs 5,096 C. Rs 4,900 D. Rs 5,460 **Answer:** b ## Q38. A certain sum amounts to Rs 4,600 after 5 years and to Rs 6,000 after 8 years at the same rate of simple interest per annum. What will be the simple interest on a sum of Rs 8,500 for 6 1/2 years at the same rate? A. Rs 11,375 B. Rs 11,460 C. Rs 10,215 D. Rs 10,515 **Answer:** a ## Q39. A salesperson, with a view to promote sales of an item, applies the principle of simple interest. He declares that 300 pieces of the item can be obtained immediately against cash payment, but a customer will get only 200 pieces of the item if he defers the payment for a year. What is the rate percentage of interest on the whole? A. 30 B. 25 C. 50 D. 40 **Answer:** c ## Q40. A sum of Rs 708 at simple interest becomes Rs 944 in 4 years. If the rate of interest is increased by 5%, then the amount of Rs.675 will increase by what amount in 4 years? A. Rs.965 B. Rs.1,075 C. Rs.1,035 D. Rs.1,145 **Answer:** c ## Q41. What is the simple interest on Rs.2,000 for 4 years at the rate of 10% per annum? A. Rs. 500 B. Rs.800 C. Rs.600 D. Rs.1,000 **Answer:** b ## Q42. Kirti invested a sum of money at a certain rate of simple interest per annum for 3 years in “Bachat scheme”. Had she invested the same sum in “Shiksha scheme” for 3 years which has a 2% higher simple interest rate per annum, the investment would have fetched Rs.540 more. How much did Kirti invest? A. Rs.9500 B. Rs.9000 C. Rs.7000 D. Rs.8000 **Answer:** b ## Q43. A sum, when invested for 2 years at the rate of 10% per annum at simple interest, amounts to Rs.4,800 on maturity. What is the sum invested? A. Rs.3,600 B. Rs.4,000 C. Rs.3,500 D. Rs.4,200 **Answer:** b ## Q44. Sum Rs.20000 and Rs.40000 are given on simple interest at the rate of 10 percent and 15 percent per annum respectively for three years. What will be the total simple interest? A. Rs.36000 B. Rs.32000 C. Rs.28000 D. Rs.24000 **Answer:** d ## Q45. What will be the simple interest on a sum of Rs.12000 at the rate of 15 percent per annumfor three years? A. Rs.4500 B. Rs.6000 C. Rs.7200 D. Rs.5400 **Answer:** d ## Q46. Find the interest accrued on a sum of Rs.1,680 in two years, at the rate of 4.375% simple interest per annum. A. Rs.73.50 B. Rs.147 C. Rs.735 D. Rs.1,470 **Answer:** b ## Q47. Sunita invested Rs.12,000 on simple interest at the rate of 10% p.a. to obtain a total amount of Rs20,400 after a certain period. For how many years did she invest to obtain the above amount? A. 6 B. 7 C. 9 D. 8 **Answer:** b ## Q48. If the difference between the compound interest and simple interest at 17% on a sum of money for 2 years (compounded annually) is Rs.433.50, then the sum (in Rs.) is: A. 12000 B. 25000 C. 15000 D. 20000 **Answer:** c ## Q49. If the annual rate of simple interest from 11% to 17 1/6%, a person's yearly income increases by Rs.1.071.20. The principle amount invested(in Rs.) is: A. 19120 B. 17250 C. 10710 D. 16480 **Answer:** d ## Q50. If the difference between the compound interest and simple interest at 17% on a sum of money for 2 years (compounded annually) is Rs.433.50, then the compound interest (in Rs.) is: A. 2500 B. 2735.5 C. 5533.5 D. 5100 **Answer:** c ## Q51. If the annual rate of simple interest increases from 11% to 17 1/2%, then a person's yearly income increases by Rs.1,071.20. The simple interest (in Rs.) on the same sum at 10% for 5 years is: A. 16480 B. 9120 C. 7250 D. 8240 **Answer:** d ## Q52. The simple interest on a sum of money at 10% per annum for 2 years is Rs.8,100. Compounded annually, what would be the compound interest (in Rs.) on the same sum for the same period at the same rate of interest? A. 8100 B. 8505 C. 8715 D. 9000 **Answer:** b ## Q53. A sum of Rs.27,000 is divided into two parts A and B such that the simple interest at the rateof 15% p.a. on A and B after two years and four years, respectively, is equal. The total interest (in Rs.) received together from A and B is: A. 9600 B. 5400 C. 18000 D. 10800 **Answer:** d ## Q54. A person invested Rs.12,000 on simple interest for 7 years to obtain a total amount of Rs.20,400 on a certain annual rate of interest. What was the rate of interest to obtain the above amount? A. 0.1 B. 0.08 C. 0.09 D. 0.07 **Answer:** a ## Q55. The simple interest on a sum of money at 10% per annum for 2 years is Rs.8,100. What would be the compound interest (in Rs.) on the same sum for the period at 15% p,a, when the interest is compounded yearly? (nearest to Rs.1) A. 13061 B. 14671 C. 8100 D. 12751 **Answer:** a ## Q56. A sum of Rs.36,000 is divided into two parts, A and B, such that the simple interest at the rate of 15% p.a. on A and B after two years and four years, respectively, is equal. The total interest (in Rs.) received from A is: A. 7200 B. 5400 C. 3600 D. 1800 **Answer:** a --- Source: https://www.easy2crack.com/mcqs/simple-interest/simple-interest-mcq-practice-set-for-mathematics Site: https://www.easy2crack.com · Machine index: https://www.easy2crack.com/llms.txt · MCP: https://www.easy2crack.com/mcp