Practice MCQ Questions and Answer on Interest
1.
A certain sum is lent at 4% per annum for 3 years 8% per annum for next 4 years and 12% per annum beyond 7 years. If for a period of 11 years, the simple interest obtained is Rs. 27,600, then the sum is (in Rs.):
- (A) 25,000
- (B) 32,000
- (C) 27,000
- (D) 30,000
2.
The simple interest on a sum of money is $$\frac{4}{9}$$ of the principal and the number of years is equal to the rate percent per annum. The rate per annum is = ?
- (A) 5%
- (B) $$6\frac{2}{3}$$ %
- (C) 6%
- (D) $$7\frac{1}{5}$$ %
3.
If the rate increases by 2%, the simple interest received on a sum of money increases by Rs. 108. If the time period is increased by 2 years, the simple interest on the same sum increases by Rs. 180. The sum is:
- (A) Rs. 1800
- (B) Rs. 3600
- (C) Rs. 5400
- (D) Data inadequate
4.
Sum Rs. 20000 and Rs. 40000 are given on simple interest at the rate of 10% and 15% per annum respectively for three years. What will be the total simple interest?
- (A) Rs. 36000
- (B) Rs. 32000
- (C) Rs. 24000
- (D) Rs. 28000
5.
An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes:
- (A) 10%
- (B) 10.25%
- (C) 10.5%
- (D) None of these
6.
Ram borrows Rs. 520 from Gaurav at a simple interest of 13% per annum. What amount of money should Ram pay to Gaurav after 6 months to be absolved of the debt?.
- (A) Rs. 353.80
- (B) Rs. 453.80
- (C) Rs. 552.80
- (D) Rs. 553.80
7.
Interest obtained on a sum of Rs. 5000 for 3 years is Rs. 1500. Find the rate percent.
- (A) 8%
- (B) 9%
- (C) 10%
- (D) 11%
8.
At what rate percent per annum will the simple interest on a sum of money be $$\frac{2}{5}$$ of the principal amount in 10 years ?
- (A) 4%
- (B) 6%
- (C) $$5\frac{2}{3}$$ %
- (D) $$6\frac{2}{3}$$ %
9.
In a certain time, the ratio of a certain principal and interest obtained from it are in the ratio 10 : 3 at 10% interest per annum. The number of years for which the money was invested is = ?
- (A) 1 year
- (B) 3 year
- (C) 5 year
- (D) 7 year
10.
The simple interest on a certain sum for 3 years at 14% p.a. is 4,200 less than the simple interest on the same sum for 5 years at the same rate. Find the sum.
- (A) Rs. 16,000
- (B) Rs. 10,000
- (C) Rs. 15,000
- (D) Rs. 12,000