Simple Interest Questions and Answers - Simple Interest Formula
Simple Interest is an important topic in Mathematics. In this section, we calculate the interest on the principal amount which we borrow from any person or Bank. These types of questions are generally asked under Aptitude Section in competitive exams.
Simple Interest Questions
Here I am sharing Simple Interest Questions and Answers related to the Simple Interest and Compound Interest formula under the Aptitude section for those learners who are preparing for competitive exams.
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Simple Interest Questions and Answers
Q : A property fetches a net annual income of ₹1000 deducting all outgoings. The capitalized value of the property for the rate of interest 6% will be (in ₹) -
(A) ₹16667.00
(B) ₹15003.00
(C) ₹18000.00
(D) None of the above
Correct Answer : A
A certain sum of money lent out at simple interest amounts to 1380 in 3 years and 1500 in 5 years. Find the rate per cent per annum.
(A) 3%
(B) 3.5%
(C) 4%
(D) 5%
Correct Answer : D
How much simple interest will Rs.4000 earn in 18 months at 12% per annum?
(A) ₹ 216
(B) ₹ 360
(C) ₹ 720
(D) ₹ 960
Correct Answer : C
What sum of money must be given as simple interest for six months at 4% per annum in order to earn 150 interest?
(A) 5000
(B) 7500
(C) 10000
(D) 15000
Correct Answer : B
At what rate of simple interest will a sum of money double in 8 years?
(A) 16%
(B) 14%
(C) 12.5%
(D) 8%
Correct Answer : C
Rinky borrowed a certain sum of money from Kajal under the following repayment scheme based on simple interest. 8% p.a. for the initial 2 years, 9.5% p.a. for the next 4 years, 11% p.a. for the next 2 years, 12% p.a. after the first 8 years. Find the amount which a sum of Rs. 9000 taken for 12 years becomes at the end of 12 years?
(A) Rs. 23470
(B) Rs. 24567
(C) Rs. 20160
(D) Rs. 22350
Correct Answer : C
If a sum of Rs. 12500 is invested for 1 year at 12% per annum interest being compounded semi-annually, then interest earned is
(A) 1545
(B) 1550
(C) 1505
(D) 1505
Correct Answer : A
The simple interest on a sum for 5 years is one fourth of the sum. The rate of interest per annum is
(A) 5%
(B) 6%
(C) 4%
(D) 8%
Correct Answer : B
A person borrows some money for 5 years and the ratio of the loan amount: total interest amount is 5 : 2. Then find the ratio of the loan amount: interest rate is equal to
(A) 5 : 2
(B) 25 : 2
(C) 2 : 25
(D) 2 : 1
Correct Answer : B
The simple interest on a sum of money is $$8\over 25$$ of the sum. If the number of years is numerically half the rate percent per annum, then the rate percent per annum is
(A) 6%
(B) 8%
(C) 5%
(D) 4%
Correct Answer : B
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Rajesh Bhatia
A Writer, Teacher and GK Expert. I am an M.A. & M.Ed. in English Literature and Political Science. I am highly keen and passionate about reading Indian History. Also, I like to mentor students about how to prepare for a competitive examination. Share your concerns with me by comment box. Also, you can ask anything at linkedin.com/in/rajesh-bhatia-7395a015b/.
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