Simple Interest Questions and Answers - Simple Interest Formula

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Simple Interest Questions and Answers
Q :  

A sum of money at simple interest amounts to ₹ 1,012 in $$2{1\over2}\%$$ years and to ₹ 1,067.20 in 4 years. The rate of interest per annum is:

(A) 4%

(B) 5%

(C) 2.5%

(D) 3%


Correct Answer : A
Explanation :


Q :  

A person invested a total sum of Rs 7900 in three different schemes of simple interest at 3% , 5% and 8% per annum. At the end of one year he got same interest in all three schemes. What is the money (in Rs) invested at 3 %? 

(A) 4000

(B) 5600

(C) 2900

(D) 3500


Correct Answer : A

Q :  

Deepanshu lent Rs. 8400 to Jaipal for 15 years and Rs. 5100 to Kareem for 14 years on simple interest at the same rate of interest and received Rs. 17766 in all from both of them as interest. The rate of interest per annum is 

(A) 10.5%

(B) 9 %

(C) 9.5 %

(D) 10 %


Correct Answer : B

Q :  

A man took a loan from a bank at the rate of 12% per annum at simple interest. After 3 years he had to pay ₹ 5,400 as interest only for the period. The principal amount borrowed by him was:

(A) ₹ 20,000

(B) ₹ 15,000

(C) ₹ 2,000

(D) ₹ 10,000


Correct Answer : B
Explanation :


Q :  

A sum of Rs. 3100 is lent out at simple interest in two parts. One at 8% per annum and another at 6% per annum, If the total annual interest is Rs. 212. then what is the money (in Rs) lent at rate of 8 % ? 

(A) 1300

(B) 1400

(C) 1000

(D) 1250


Correct Answer : A

Q :  

Daljit lent Rs.10800 to Jabir for 3 years and Rs.7500 to Kabir for 2 years on simple interest at the same rate of interest and received Rs.1422 in all from both of them as interest . The rate of interest per annum is 

(A) 3%

(B) 4.5%

(C) 3.5%

(D) 4%


Correct Answer : A

Q :  

What sum will amount to ₹ 7000 in 5 years at $$3{1\over3}\%$$ simple interest ? 

(A) 6000

(B) 5000

(C) 6300

(D) 6500


Correct Answer : A
Explanation :


Q :  

At some rate of simple interest, A lent ₹ 6,000 to B for 2 years and ₹ 1,500 to C for 4 years and received ₹ 9,00 as interest from both of them together. The rate of interest per annum was

(A) 8%

(B) 10%

(C) 5%

(D) 6%


Correct Answer : C
Explanation :


Q :  

A certain sum of money amounts to ₹ 756 in 2 years and to ₹ 873 in $$3{1\over2}\%$$ years at a certain rate of simple interest. The rate of interest per annum is

(A) 12%

(B) 13%

(C) 10%

(D) 11%


Correct Answer : B

Q :  

A lends ₹ 2500 to B and a certain sum to C at the same time at 7% annual simple interest. If after 4 years, A altogether receives ₹ 1120 as interest from B and C, the sum lent to C is

(A) ₹ 4000

(B) ₹ 1500

(C) ₹ 700

(D) ₹ 6500


Correct Answer : B
Explanation :


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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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