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Set 1 – Simple and Compound Interest : 26 MCQs – CAT, XAT, CMAT and SSC , Bank Level Practice

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Set 1 – Simple and Compound Interest : 26 MCQs – CAT, XAT, CMAT and SSC , Bank Level Practice

Algebra 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) What sum of money must be given as simple interest for six months at 4% per annum in order to earn ₹150 interest?

  • (1) ₹5000
  • (2) ₹7500
  • (3) ₹10000
  • (4) ₹15000
🔽 Show Answer & Video

Answer: ₹7500

🎥 Video Solution: Coming soon

2) 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:

  • (1) ₹700
  • (2) ₹760
  • (3) ₹784
  • (4) ₹800
🔽 Show Answer & Video

Answer: ₹800

🎥 Video Solution: Coming soon

3) At some rate of simple interest, A lent ₹6000 to B for 2 years and ₹1500 to C for 4 years and received ₹900 as interest from both of them together. The rate of interest per annum was:

  • (1) 5%
  • (2) 6%
  • (3) 8%
  • (4) 10%
🔽 Show Answer & Video

Answer: 5%

🎥 Video Solution: Coming soon

4) ₹500 was invested at 12% per annum simple interest and a certain sum of money invested at 10% per annum simple interest. If the sum of the interest on both the sums after 4 years is ₹480, the latter sum of money is:

  • (1) ₹450
  • (2) ₹750
  • (3) ₹600
  • (4) ₹550
🔽 Show Answer & Video

Answer: ₹600

🎥 Video Solution: Coming soon

5) 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:

  • (1) ₹700
  • (2) ₹6500
  • (3) ₹4000
  • (4) ₹1500
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Answer: ₹1500

🎥 Video Solution: Coming soon

6) 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

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

Answer: ₹10,000

🎥 Video Solution: Coming soon

7) 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

  • (1) 3%
  • (2) 4%
  • (3) 5%
  • (4) 6%
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Answer: 6%

🎥 Video Solution: Coming soon

8) ₹800 becomes ₹956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4%, what amount will ₹800 become in 3 years?

  • (1) ₹1020.80
  • (2) ₹1025
  • (3) ₹1052
  • (4) ₹1050
🔽 Show Answer & Video

Answer: ₹1052

🎥 Video Solution: Coming soon

9) A man lent ₹60,000, partly at 5% and the rest at 4% simple interest. If the total annual interest is ₹2,560, the money lent at 4% was

  • (1) ₹40,000
  • (2) ₹44,000
  • (3) ₹30,000
  • (4) ₹45,000
🔽 Show Answer & Video

Answer: ₹44,000

🎥 Video Solution: Coming soon

10) 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

  • (1) 4600
  • (2) 6400
  • (3) 7600
  • (4) 6000
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Answer: 6400

🎥 Video Solution: Coming soon

11) 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

  • (1) 10%
  • (2) 12%
  • (3) 18%
  • (4) 20%
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Answer: 18%

🎥 Video Solution: Coming soon

12) 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?

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

Answer: 5 years

13) A sum of Rs. 2800 is divided into two parts in such a way that the interest on both parts is equal. If the first part is lent at 9% p.a. for 5 years and the second part for 6 years at 10% p.a., find the two sums.

  • (1) Rs. 1800, Rs. 1000
  • (2) Rs. 1600, Rs. 1200
  • (3) Rs. 1400, Rs. 1400
  • (4) Rs. 1300, Rs. 1500
🔽 Show Answer

Answer: Rs. 1600, Rs. 1200

14) In simple interest per annum a certain sum amounts to Rs. 5182 in 2 years and Rs. 5832 in 3 years. The principal in rupees is

  • (1) Rs. 2882
  • (2) Rs. 5000
  • (3) Rs. 3882
  • (4) Rs. 4000
🔽 Show Answer

Answer: Rs. 3882

15) The amount to be paid, when principal = Rs. 2000, rate of simple interest (R) = 5%, T = 2 years, is:

  • (1) Rs. 3,200
  • (2) Rs. 2,400
  • (3) Rs. 2,200
  • (4) Rs. 3,400
🔽 Show Answer

Answer: Rs. 2,200

16) A sum of money becomes 4140 of itself in 14 years at a certain rate of simple interest. The rate of interest per annum is:

  • (1) 10%
  • (2) 1%
  • (3) 2.5%
  • (4) 5%
🔽 Show Answer

Answer: 10%

17) A certain sum of money becomes three times of itself in 20 years at simple interest. In how many years does it become double of itself at the same rate of simple interest?

  • (1) 8 years
  • (2) 10 years
  • (3) 12 years
  • (4) 14 years
🔽 Show Answer

Answer: 10 years

18) A sum of ₹6,000 becomes ₹7,200 in 4 years at a certain rate of simple interest. If the rate becomes 1.5 times itself, the amount of the same principal in 5 years will be:

  • (1) ₹8,000
  • (2) ₹8,250
  • (3) ₹9,250
  • (4) ₹9,000
🔽 Show Answer

Answer: ₹8,250

19) A sum of money at a certain rate per annum of simple interest doubles in 5 years and at a different rate becomes three times in 12 years. The lower rate of interest per annum is:

  • (1) 15%
  • (2) 20%
  • (3) 1534%
  • (4) 1623%
🔽 Show Answer

Answer: 1623%

20) 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:

  • (1) 15 years
  • (2) 18 years
  • (3) 20 years
  • (4) 30 years
🔽 Show Answer

Answer: 20 years

21) In what time will the simple interest be 2/5 of the principal at 8% per annum?

  • (1) 8 years
  • (2) 7 years
  • (3) 5 years
  • (4) 6 years
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Answer: 5 years

🎥 Video Solution: Coming soon

22) A sum of money becomes 41/40 of itself in 1/4 years at a certain rate of simple interest. The rate of interest per annum is

  • (1) 10%
  • (2) 1%
  • (3) 2.5%
  • (4) 5%
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Answer: 1%

🎥 Video Solution: Coming soon

23) Simple interest on a certain sum for 6 years is 9/25 of the sum. The rate of interest is

  • (1) 6%
  • (2) 6 1/2%
  • (3) 8%
  • (4) 8 1/2%
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Answer: 6%

🎥 Video Solution: Coming soon

24) On a certain sum, the simple interest at the end of 6 1/4 years becomes 3/8 of the sum. The rate of interest is

  • (1) 5%
  • (2) 6%
  • (3) 7%
  • (4) 8%
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Answer: 6%

🎥 Video Solution: Coming soon

25) The present worth of a bill due 7 months hence is ₹1200 and if the bill were due at the end of 2 1/2 years its present worth would be ₹1016. The rate per cent is

  • (1) 5%
  • (2) 10%
  • (3) 15%
  • (4) 20%
🔽 Show Answer & Video

Answer: 10%

🎥 Video Solution: Coming soon

26) A and B borrowed Rs. 3000 and Rs. 3200 respectively at the same rate of interest for 2 1/2 years. If B paid Rs. 40 more interest than A, find the rate of interest.

  • (1) 5%
  • (2) 7%
  • (3) 8%
  • (4) 6%
🔽 Show Answer & Video

Answer: 8%

🎥 Video Solution: Coming soon

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