Mathematics MCQs

Simple Interest / Compound Interest Questions with solutions MCQs

1. Ram borrowed Rs. 5,000 from Sanjay with simple interest. After 2 years, Sanjay got Rs. 1,000 more than what he had given to Ram. What was the percentage of interest per annum?

A

15

B

10

C

20

D

5

Simple Interest / Compound Interest Secondary Mathematics
Correct Answer : B
Explanation :

10

Correct Answered :

Wrong Answered :

2. If the compound interest on a certain sum of money for 2 ½ years at 5% per annum be Rs. 104.05, what would be the simple interest?

A

Rs. 100

B

Rs. 200

C

Rs. 150

D

Rs. 190

Simple Interest / Compound Interest Secondary Mathematics
Correct Answer : A
Explanation :

Rs. 100

Correct Answered :

Wrong Answered :

3. Simple interest on a certain amount is 9/16 of the principal. If the number representing the rate of interest in percent and time in years be equal, then time, for which the principal is lent out, is:

A

5 ½ years

B

6 ½ years

C

7 years

D

7 ½ years

Simple Interest / Compound Interest Secondary Mathematics
Correct Answer : D
Explanation :

7 ½ years

Correct Answered :

Wrong Answered :

4. The difference in simple interest at 13% and 12% p.a. of a sum in one year is Rs. 110. Then the sum is

A

Rs. 10,000

B

Rs. 15000

C

Rs. 11000

D

Rs. 13000

Simple Interest / Compound Interest Secondary Mathematics
Correct Answer : C
Explanation :

Rs. 11000

Correct Answered :

Wrong Answered :

5. A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum?

A

8925

B

8259

C

8529

D

8952

Simple Interest / Compound Interest Secondary Mathematics
Correct Answer : A
Explanation :

8925

Correct Answered :

Wrong Answered :

6. Find the sum of money which increases 1/10 of itself every year and amounts to Rs. 450 in 5 years at S.I ___

A

250

B

300

C

400

D

350

Simple Interest / Compound Interest Secondary Mathematics
Correct Answer : B
Explanation :

Rs. 300

Correct Answered :

Wrong Answered :

7. A sum was put at simple interest at a certain rate for 2 years. Had it been put at 1% higher rate, it would have fetched Rs. 24 more. Find the sum.

A

2000

B

1200

C

2400

D

1600

Simple Interest / Compound Interest Secondary Mathematics
Correct Answer : B
Explanation :

1200

Correct Answered :

Wrong Answered :

8. A sum was put at simple interest at a certain rate for 2 years. Had it been put at 3% higher rate, it would have fetched Rs. 72 more find the sum:

A

1500

B

1000

C

1200

D

1300

Simple Interest / Compound Interest Secondary Mathematics
Correct Answer : C
Explanation :

1200

Correct Answered :

Wrong Answered :

9. The cost of a machine is estimated to be decreasing at the rate of 15% every year. If it costs Rs. 6,000 now, what will be the estimated value of the machine after 2 years?

A

4335

B

3225

C

3750

D

5000

Simple Interest / Compound Interest Secondary Mathematics
Correct Answer : A
Explanation :

4335

Correct Answered :

Wrong Answered :

10. S.I. on Rs. 1500 at 7% per annum for a certain time is Rs. 210. Find the time.

A

3 years

B

1.5 years

C

2 years

D

2.8 years

Simple Interest / Compound Interest Secondary Mathematics
Correct Answer : C
Explanation :

2 years

Correct Answered :

Wrong Answered :

11. Find the compound interest on Rs. 8000 for 3 year at 5% per annum.

A

1261

B

1381

C

1451

D

1151

Simple Interest / Compound Interest Secondary Mathematics
Correct Answer : A
Explanation :

1261

Correct Answered :

Wrong Answered :

12. A man borrows Rs. 4,000 from a bank at 7 1 2 % interest. At the end of every year, he pays Rs. 1,500 as part repayment of loan and interest. How much does he still owe to the Bank after 3 such annual payments?

A

123.25

B

25

C

124.25

D

125

Simple Interest / Compound Interest Secondary Mathematics
Correct Answer : A
Explanation :

123.25

Correct Answered :

Wrong Answered :

13. The simple interest on a certain sum of money for 4 years at 4 percent per annum exceeds the compound interest on the same sum for 3 years at 5 percent per annum by Rs. 57. Find the sum.

A

26700

B

12500

C

23050

D

24000

Simple Interest / Compound Interest Secondary Mathematics
Correct Answer : D
Explanation :

24000

Correct Answered :

Wrong Answered :

14. A sum of Rs. 1600 lent at simple interest at 12.5% per annum will become double in

A

7.5 years

B

6 years

C

8 years

D

9 1/4years

Simple Interest / Compound Interest Secondary Mathematics
Correct Answer : C
Explanation :

8 years

Correct Answered :

Wrong Answered :

15. What sum of money lent out at compound interest will amount to Rs. 968 in 2 years at 10% per annum, interest being charged annually?

A

900

B

800

C

825

D

780

Simple Interest / Compound Interest Secondary Mathematics
Correct Answer : B
Explanation :

800

Correct Answered :

Wrong Answered :

16. A sum of money doubles itself at compound interest in 15 years. It will become 8 times in

A

60 years

B

45 years

C

40 years

D

30 years

Simple Interest / Compound Interest Secondary Mathematics
Correct Answer : B
Explanation :

45

Correct Answered :

Wrong Answered :

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