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Set 2 – Simple and Compound Interest : 25 MCQs – CAT, XAT, CMAT and SSC , Bank Level Practice

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Set 2 – Simple and Compound Interest : 25 MCQs – CAT, XAT, CMAT and SSC , Bank Level Practice

SI CI Practice – Full Set

Simple Interest MCQs – CAT, XAT, CMAT and SSC , Bank Level Practice

Compiled by Maths By Amiya. Click below to reveal answers and video walkthroughs.


1) The difference between the simple interest received from two different sources on ₹1500 for 3 years is ₹13.50. The difference between their rates of interest is:

  • (1) 0.1%
  • (2) 0.2%
  • (3) 0.3%
  • (4) 0.4%
🔽 Show Answer

Answer: 0.3%

2) Mohan lent some amount of money at 9% simple interest and an equal amount at 10% simple interest each for two years. If his total interest was Rs.760, what amount was lent in each case?

  • (1) ₹1700
  • (2) ₹1800
  • (3) ₹1900
  • (4) ₹2000
🔽 Show Answer

Answer: ₹1800

3) A sum of ₹1500 is lent out in two parts so that the simple interest on one part at 10% p.a. for 5 years is equal to that on the other part at 12.5% p.a. for 4 years. The sum lent at 12.5% is:

  • (1) ₹500
  • (2) ₹1000
  • (3) ₹750
  • (4) ₹1250
🔽 Show Answer

Answer: ₹1250

4) A person deposited ₹500 for 4 years and ₹600 for 3 years at the same rate of simple interest. Altogether he received ₹190 as interest. The rate of simple interest per annum was:

  • (1) 4%
  • (2) 5%
  • (3) 2%
  • (4) 3%
🔽 Show Answer

Answer: 3%

5) Simple interest on ₹500 for 4 years at 6.25% per annum is equal to the simple interest on ₹400 at 5% per annum for a certain period. The period of time is:

  • (1) 4 years
  • (2) 5 years
  • (3) 6 1/4 years
  • (4) 8 2/3 years
🔽 Show Answer

Answer: 4 years

6) The simple interest on ₹4000 in 3 years at the rate of x% p.a. equals the simple interest on ₹5000 at the rate of 12% p.a. in 2 years. The value of x is:

  • (1) 10%
  • (2) 6%
  • (3) 8%
  • (4) 9%
🔽 Show Answer

Answer: 10%

7) Prakash lends a part of ₹20,000 at 8% simple interest and remaining at 4/3% simple interest. His total income after a year was ₹800. Find the sum lent at 8%.

  • (1) ₹8,000
  • (2) ₹12,000
  • (3) ₹6,000
  • (4) ₹10,000
🔽 Show Answer & Video

Answer: ₹8,000

🎥 Video Solution: Coming soon

8) The difference between simple interest and the true discount on Rs. 2400 due 4 years hence at 5% per annum simple interest is:

  • (1) Rs. 30
  • (2) Rs. 70
  • (3) Rs. 80
  • (4) Rs. 50
🔽 Show Answer & Video

Answer: Rs. 80

🎥 Video Solution: Coming soon

9) A sum of ₹1550 was lent partly at 5% and partly at 8% simple interest. The total interest received after 3 years is ₹300. The ratio of money lent at 5% to that at 8% is:

  • (1) 5 : 8
  • (2) 8 : 5
  • (3) 31 : 6
  • (4) 16 : 15
🔽 Show Answer

Answer: 16 : 15

10) 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:

  • (1) 2 : 25
  • (2) 2 : 1
  • (3) 5 : 2
  • (4) 25 : 2
🔽 Show Answer

Answer: 25 : 2

11) In a certain time, the ratio of a certain principal and the simple interest obtained from it are in the ratio 10 : 3 at 10% interest per annum. The number of years the money was invested is:

  • (1) 1 year
  • (2) 3 years
  • (3) 5 years
  • (4) 7 years
🔽 Show Answer

Answer: 3 years

12) A sum of Rs. 4000 is lent out in two parts, one at 8% simple interest and the other at 10% simple interest. If the annual interest is Rs. 352, the sum lent at 8% is:

  • (1) Rs. 2900
  • (2) Rs. 2200
  • (3) Rs. 2400
  • (4) Rs. 3100
🔽 Show Answer

Answer: Rs. 2400

13) A sum of ₹400 amounts to ₹480 in 4 years. What will it amount to if the rate of interest is increased by 2%?

  • (1) ₹484
  • (2) ₹560
  • (3) ₹512
  • (4) None of these
🔽 Show Answer

Answer: ₹512

14) A sum was invested on simple interest at a certain rate for 2 years. Had it been put at 3% higher rate, it would have fetched ₹72 more. The sum is:

  • (1) ₹1,200
  • (2) ₹1,500
  • (3) ₹1,600
  • (4) ₹1,800
🔽 Show Answer

Answer: ₹1,200

15) If the annual rate of simple interest increases from 10% to 12.5%, a man’s yearly income increases by ₹1250. His principal (in rupees) is:

  • (1) ₹50,000
  • (2) ₹45,000
  • (3) ₹60,000
  • (4) ₹65,000
🔽 Show Answer

Answer: ₹50,000

16) A sum was lent at simple interest at a certain rate for 2 years. Had it been lent at 3% higher rate, it would have fetched ₹300 more. The original sum of money was:

  • (1) ₹5,000
  • (2) ₹6,000
  • (3) ₹7,000
  • (4) ₹4,000
🔽 Show Answer

Answer: ₹5,000

17) ₹800 amounts to ₹920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to

  • (1) ₹1,056
  • (2) ₹1,112
  • (3) ₹1,182
  • (4) ₹992
🔽 Show Answer

Answer: Option (4)

18) If a man receives on one-fourth of his capital 3% interest, on two third 5% and on the remainder 11%, the percentage he receives on the whole is:

  • (1) 4.5%
  • (2) 5%
  • (3) 5.5%
  • (4) 5.2%
🔽 Show Answer

Answer: (2) 5%

19) The amount ₹2,100 became ₹2,352 in 2 years at simple interest. If the interest rate is decreased by 1%, what is the new interest?

  • (1) ₹210
  • (2) ₹220
  • (3) ₹242
  • (4) ₹252
🔽 Show Answer

Answer: Option (1)

20) A sum of Rs.800 becomes Rs.956 in 3 years at a certain rate of simple interest. If the rate is increased by 4%, what amount will the same sum become in 3 years?

  • (1) Rs.1025
  • (2) Rs.1042
  • (3) Rs.1052
  • (4) Rs.1024
🔽 Show Answer

Answer: Option (3)

21) The rate of simple interest per annum of bank being decreased from 5% to 3½%, the annual income of a person from interest was less by Rs.105. The sum deposited at the bank was

  • (1) Rs.6,000
  • (2) Rs.7,200
  • (3) Rs.6,800
  • (4) Rs.7,000
🔽 Show Answer

Answer: Option (4)

22) A sum of ₹10,000 is lent partly at 8% and remaining at 10% per annum. If the yearly interest on the average is 9.2%, the two parts are:

  • (1) ₹4,000, ₹6,000
  • (2) ₹4,500, ₹5,500
  • (3) ₹5,000, ₹5,000
  • (4) ₹5,500, ₹4,500
🔽 Show Answer

Answer: (1) ₹4,000, ₹6,000

23) Ramesh deposited ₹15,600 in a fixed deposit at 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:

  • (1) ₹1,716
  • (2) ₹1,560
  • (3) ₹3,432
  • (4) ₹1,872
🔽 Show Answer

Answer: (4) ₹1,872

24) What equal instalment of annual payment will discharge a debt which is due as ₹848 at the end of 4 years at 4% per annum simple interest?

  • (1) ₹212
  • (2) ₹200
  • (3) ₹250
  • (4) ₹225
🔽 Show Answer

Answer: (2) ₹200

25) A man invests half his capital at 10% per annum, one-third at 9% and the rest at 12% per annum. The average rate of interest per annum is:

  • (1) 9%
  • (2) 10%
  • (3) 10.5%
  • (4) 12%
🔽 Show Answer

Answer: (2) 10%

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