simple interest | Multiple Choice Questions (MCQ) Choose Part Part A

Q1 - The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 9% per annum is Rs 405. The sum is _________
A. Rs 50000
B. Rs 100000
C. Rs 200000
D. Rs 150000
Answer - A
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Q2 - If the simple interest on a sum of money at 4 % per annum for 2 years is Rs. 400, find the compound interest on the same sum for the same period at the same rate?
A. Rs. 400
B. Rs. 408
C. Rs. 450
D. Rs. 500
Answer - B
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Q3 - If Rs. 500 amounts to Rs. 583.2 in 2 years compounded annually, find the rate of interest per annum ?
A. 5 %
B. 8 %
C. 10 %
D. 4 %
Answer - B
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Q4 - Find the compound interest on Rs. 20000 at 8 % per annum for 9 months compounded annually?
A. Rs. 1200
B. Rs. 1224
C. Rs. 1250
D. Rs. 1150
Answer - B
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Q5 - Find the compound interest on Rs. 15000 in 3 years at 5 % per annum, the interest being compounded half yearly?
A. Rs. 2300
B. Rs. 2250
C. Rs. 2395.40
D. Rs. 2295.40
Answer - C
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Q6 - Find compound interest on Rs. 8000 at 5 % per annum for 3 years, compounded annually?
A. Rs. 1250
B. Rs. 1261
C. Rs. 1200
D. Rs. 1150
Answer - B
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Q7 - What will be the ratio of simple interest earned by a certain amount at the same rate of interest for 2 years & for 4 years ?
A. 2 : 1
B. 1 : 2
C. 1 : 3
D. Cannot determind
Answer - B
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Q8 - At what rate of interest, a sum of Rs. 15000 will be Rs. 17625 in 5 years?
A. 3 %
B. 3.5 %
C. 4 %
D. 4.5 %
Answer - B
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Q9 - What will be the simple interest on an amount of Rs. 2000 in 3 years at interest 4% per annum?
A. Rs. 220
B. Rs. 240
C. Rs. 250
D. Rs. 280
Answer - B
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Q10 - How much time will it take for an amount of Rs. 1500 to get Rs. 225 as interest at 5% per annum of simple interest ?
A. 1 year
B. 2 years
C. 4 years
D. 3 years
Answer - D
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