interest MCQs – Page 2

Practise focused interest questions with marked answers for exam preparation and subject revision.

interest Mcqs
21. The simple interest on Rs.500 at 6% per annum from May 3rd to July 15th in the same year is_________?
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A. Rs.9

B. Rs.8

C. Rs.4

D. Rs.6
22. A sum of money becomes 7?5 of itself in 4 years at a certain rate of simple interest. The rate per annum is :
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A. 9%

B. 11%

C. 12%

D. 10%
23. An amount of 5,000 is invested at a fixed rate of 8 per cent per annum. What amount will be the value of the investment in five years time, if the interest is compounded every six months?
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A. 4567

B. 7401.22

C. 3456

D. 7890

24. How long will it take for a sum of money to grow from Rs.1250 to Rs.10,000, if it is invested at 12.5% p.a simple interest?
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A. 56 years

B. 57 years

C. 65 years

D. 45 years

25. A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:
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A. 5%

B. 12%

C. 15%

D. 8%

26. A sum was put a simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, it would have fetched Rs. 60 more. The sum is:
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A. Rs.940

B. Rs.820

C. Rs.700

D. Rs.750
27. What is the rate of interest at which Rs.150 becomes Rs. 220 in 10 years.
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A. 14/3%

B. 12%

C. 14%

D. 11/3%

28. If there is a total of 104 weekly instalments and a third deposit, find the interest charged
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A. 334

B. 237.55

C. 443

D. 337

29. What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years ?
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A. 1:04

B. Data inadequate

C. 2 : 3

D. 1:03

30. What is the present worth of Rs. 132 due in 2 years at 5% simple interest per annum ?
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A. Rs. 112

B. Rs. 120

C. Rs. 118.80

D. Rs. 122

31. 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 :_________?
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A. None of these

B. 10.25%

C. 10%

D. 10.50%

32. Mr. Tassawar Javed invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B?
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A. Rs. 6400

B. Rs. 6500

C. Rs. 7200

D. Rs. 7500