Simple Interest Aptitude MCQ Questions with Answers

Question - What sum of money will amount to 520 in 5 years and to 568 in 7 years at simple interest ?
a) 400
b) 120
c) 510
d) 220

Answer : A

Question - A money lender finds that due to fall in the annual rate of interest 8 % to 7 and 3/4 %, his yearly income diminishes by 61.50. His capital is ?
a) 22400
b) 23800
c) 24600
d) 26000

Answer : C

Question - A person borrows some money for 5 years and loan amount : total interest amount is 5 : 2. The ratio of loan amount : interest rate is equal to ?
a) 2 : 25
b) 2 : 1
c) 5 : 2
d) 25 : 2

Answer : D

Question - Ram bought a bike for Rs. 60,000. He paid Rs. 10000 cash down and the rest at the end of 2 years at 15% simple interest. How much more did he pay as simple interest ?
a) Rs. 15,000
b) Rs. 25,000
c) Rs. 35,000
d) Rs. 50,000

Answer : A

Question - A certain sum doubles in 7 years at simple interest. The same sum under the same interest rate will become 4 times in how many years ?
a) 14
b) 28
c) 21
d) 10

Answer : C

Question - The rate of simple interest for which a sum of money becomes 5 times of itself in 8 years is ?
a) 30%
b) 40%
c) 50%
d) 55%

Answer : C

Question - A and B borrowed Rs. 3000 and Rs. 3200 respectively at the same rate of interest for 2 and 1/2 years. If B paid Rs. 40 more interest than A, find the rate of interest ?
a) 5%
b) 7%
c) 8%
d) 6%

Answer : C

Question - Ramesh deposited 15600 in a fixed deposit at the rate of 10% per annum simple interest. After every second year, he adds his interest earnings to the principal. The interest at the end of fourth year is ?
a) 1716
b) 1560
c) 3432
d) 1872

Answer : D

Question - Nitin borrowed some money at the rate of 6% p.a. for the first three years, 9% p.a. for the next five years and 13% p.a. for the period beyond eight years. If the total interest paid by him at the end of eleven years is 8,160, the money borrowed by him (in) was ?
a) 12,000
b) 6,000
c) 8,000
d) 10,000

Answer : C

Question - 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) 700
b) 6500
c) 4000
d) 1500

Answer : D

Question - Two equal sums were lent out at 7% and 5% S.I. respectively. The interest earned on the two loans add up to 960 for 4 years. The total sum lent out in ?
a) 3500
b) 2500
c) 2000
d) 3000

Answer : C

Question - A sum of money lent at simple interest amounts to 880 in 2 years and to 920 in 3 years. The sum of money (in rupees) is ?
a) 700
b) 760
c) 784
d) 800

Answer : D

Question - Ramesh borrowed a sum at 5 per annum simple interest from Rahul. He returns the amount after 5years. Rahul returns 2 % of the total amount received. How much did Ramesh borrowed if he received Rs. 5 ?
a) Rs. 250
b) Rs. 200
c) Rs. 150
d) Rs. 175

Answer : B

Question - 800 amounts to 920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to ?
a) 1,056
b) 1,112
c) 1,182
d) 992

Answer : D

Question - The population of a village decreases at the rate of 20% per annum. If its population 2 years ago was 10,000, the present population is ?
a) 4600
b) 6400
c) 7600
d) 6000

Answer : B

Question - In how many years will a sum of money double itself at 12% per annum ?
a) 8 yrs. 6 months
b) 6 yrs. 9 months
c) 8 yrs. 4 months
d) 7 yrs. 6 months

Answer : A

Question - 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%

Answer : D

Question - In what time will the simple interest be 2/5 of the principal at 8 per cent per annum ?
a) 8 years
b) 7 years
c) 5 years
d) 6 years

Answer : C

Question - The difference between simple interest and the true discount on Rs. 2400 due 4 years hence at 5% per annum simple interest is ?
a) Rs. 30
b) Rs. 70
c) Rs. 80
d) Rs. 50

Answer : C

Question - The sum of money that will yield Rs. 60 as simple interest at the rate of 6% per annum in 5 years is ?
a) 200
b) 225
c) 175
d) 300

Answer : A

Question - A part of 1500 was lent at 10% per annum and the rest at 7% per annum simple interest. The total interest earned in three years was 396. The sum lent at 10% was ?
a) 900
b) 800
c) 700
d) 600

Answer : A

Question - Alipta got some amount of money from her father. In how many years will the ratio of the money and the interest obtained from it be 10:3 at the rate of 6% simple interest per annum ?
a) 7 years
b) 3 years
c) 5 years
d) 4 years

Answer : C

Question - A sum of 1000 is lent out partly at 8% and the remaining at 10% per annum. If the yearly income on the average is 9.2%, the two parts respectively are ?
a) 400, 600
b) 450, 550
c) 500, 500
d) 550, 450

Answer : A

Question - If 12,000 is divided into two parts such that the simple interest on the first part for 3 years at 12% per annum is equal to the simple interest on the second part for 4 and 1/2 years at 16% per annum, the greater part is ?
a) 8,000
b) 6,000
c) 7,000
d) 7,500

Answer : A

Question - A certain scheme of investment in simple interest declares that it trebles the investment in 8 years. If you want to quadruple your money through that scheme, you have to invest it for ?
a) 11 years 6 months
b) 10 years 8 months
c) 10 years
d) 12 years

Answer : D

Question - A sum of Rs. 2800 is divided into two parts in such a way that the interest on both the parts is equal. If the first part is lent at 9% p.a. for 5 years and second part is for 6 years at 10% p.a., find the two sums ?
a) Rs. 1800, Rs. 1000
b) Rs. 1600, Rs. 1200
c) Rs. 1400, Rs. 1400
d) Rs. 1300, Rs. 1500

Answer : B

Question - A sum of money becomes 7/6 of itself in 3 years at a certain rate of simple interest. The rate per annum is ?
a) 5 and 5/9 %
b) 6 and 5/9 %
c) 18%
d) 25%

Answer : A

Question - If a sum of money amounts to 12,900 and 14,250 at the end of 4th year and 5th year respectively at a certain rate of simple interest, then the rate of interest is ?
a) 10%
b) 12%
c) 18%
d) 20%

Answer : C

Question - A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest ?
a) 3%
b) 4%
c) 5%
d) 6%

Answer : D

Question - At a certain rate of simple interest, a certain sum of money becomes double of itself in 10 years. It will become treble of itself in ?
a) 15 years
b) 18 years
c) 20 years
d) 30 years

Answer : C

Question - A person deposited 400 for 2 years, 550 for 4 years and 1,200 for 6 years. He received the total simple interest of 1,020. The rate of interest per annum is ?
a) 10%
b) 5%
c) 15%
d) 20%

Answer : A

Question - A man had 16,000, part of which he lent at 4% and the rest at 5% per annum simple interest. If the total interest received was 700 in one year, the money lent at 4% per annum was ?
a) 12,000
b) 8,000
c) 10,000
d) 6,000

Answer : C

Question - A sum of money was lent at simple interest at a certain rate for 3 years. Had it been lent at 2.5% per annum higher rate, it would have fetched 540 more. The money lent was ?
a) 6400
b) 6472
c) 6840
d) 7200

Answer : D

Question - A sum of Rs. 800 amounts to Rs. 920 in 3 years at simple interest. If the interest rate is increased by 3% at simple interest rate is increased by 3%, it would to how much ?
a) Rs. 780
b) Rs. 992
c) Rs. 848
d) Rs. 700

Answer : A

Question - A borrows 800 at the rate of 12% per annum simple interest and B borrows 910 at the rate of 10% per annum, simple interest. In how many years will their amounts of debt be equal ?
a) 18 years
b) 20 years
c) 22 years
d) 24 years

Answer : C

Question - The simple interest on a sum after 4 years is 1/5 of the sum. The rate of interest per annum is ?
a) 4%
b) 5%
c) 6%
d) 8%

Answer : C

Question - 12,000 is divided into two parts so that the simple interest on the first part for 3 years at 12% per annum may be equal to the simple interest on the second part for 4 and 1/2 years at 16% per annum. The ratio of the first part to the second part is ?
a) 2 : 1
b) 1 : 2
c) 2 : 3
d) 3 : 2

Answer : A

Question - A sum of money at some rate of simple interest amounts to 2,900 in 8 years and to 3,000 in 10 years. The rate of interest per annum is ?
a) 4%
b) 2 and 1/2 %
c) 3%
d) 2%

Answer : D

Question - A sum of money at a certain rate per annum of simple interest doubles in the 5 years and at a different rate becomes three times in 12 years. The lower rate of interest per annum is ?
a) 15%
b) 20%
c) 15 %
d) 16 and 2/3 %

Answer : D

Question - A sum of money amounts to 5,200 in 5 years and to 5,680 in 7 years at simple interest. The rate of interest per annum is ?
a) 3%
b) 4%
c) 5%
d) 6%

Answer : D

Question - The rate of simple interest for which Rs. 6,000 will amount to Rs. 6,900 in 3 years is ?
a) 5%
b) 7%
c) 2%
d) 4%

Answer : A

Question - The simple interest on 7,300 from 11 May, 1987 to 10 September, 1987 (both days included) at 5% per annum is ?
a) 123
b) 103
c) 200
d) 223

Answer : A

Question - A money lender lends Rs. 400 for 3 years to a person and lends Rs. 500 for 4 years to the other person at the same rate of simple interest. If altogether he receives Rs. 160 as interest, what is the rate of interest per annum ?
a) 5%
b) 7%
c) 9%
d) 10%

Answer : A