Interest Simple & Compound Quantitative MCQ Questions Answers

Simple & Compound Interest MCQ Questions Answers – Quantitative Aptitude


1) The simple interest on a sum of money is equal to the principle and the number of year is equal to the rate percent per annum. The rate percent is

a) 25 %

b) 100 %

c) 10 %

d) 12 %

View Answer
Option – c)

2) A borrowed Rs 5000 from B at simple interest. After 4 yr, B received Rs 1000 more than the amount given to B on loan. The rate of interest was

a) 5%

b) 25 %

C) 20 %

d) 4%

View Answer
Option – a)

3) If the simple interest on Rs 1500 increases by Rs 30, when the time increases by 8 yr. The arte precent per annum is

a) 0.5%

b) 0.25%

c) 0.755

d) 1.25%

View Answer
Option – b)

4) A sum of money placed at compound interest thrice itself in 4 yr. In how many years will it amount to 27 times itself ?

a) 12 yr

b) 15 yr

c) 14 yr

d) `10 yr

View Answer
Option – d)

5)The simple interest on a certain sum of money for 3 yr at 5 percent is Rs 1324.05. What is the simple interest ?

a) Rs 1260

b) Rs 1560

c) Rs 1160

d) Rs 1360

View Answer
Option – a)

6) Michael Bolton has $90,000 with him. He purchases a car, a laptop and a flat for $15,000, $13,000 and $35,000 respectively and puts the remaining money in a bank deposit that pays compound interest @15% per annum. After 2 years, he sells off the three items at 80% of their original price and also withdraws his entire money from the bank by closing the account. What is the total change in his asset?

(a) –4.5%

(b) +3.5%

(c) –4.32%

(d) +5.5%

View Answer
Option – c)

7) At what percent will the compound interest, does a sum of money become 27 times in 3 yr ?

a) 100 %

b) 150%

c) 75%

d) 200%

View Answer
Option – d)

8) At what rate of interest per annum will a sum becomes 5 times in 20 yr at SI ?

a) 20%

b) 16%

c) 25%

d) 10%

View Answer
Option – a)

9) The RBI lends a certain amount to the SBI on simple interest for two years at 20%. The SBI gives this entire amount to Bharti Telecom on compound interest for two years at the same rate annually. Find the percentage earning of the SBI at the end of two years on the entire amount.

(a) 4%

(b) 3(1/7)%

(c) 3(2/7)%

(d) 3(6/7)%

View Answer
Option – a)

10) A sum was put at a certain rate for 3 yr. Had it been put at 4% high rate, it would have fetched Rs 600 more. The sum was

a) Rs 5000

b) Rs 4000

c)Rs 6000

d) Rs 3000

View Answer
Option – a)

11) A sum of money amounts to Rs 6690 after 3 yr and to Rs 10035 after 6 yr on compound interest. The sum is

a) Rs 4460

b) Rs 3650

c) Rs 4535

d) Rs 2800

View Answer
Option – a)

12) Anish borrowed Rs 15000 at the rate of 12% and another amount at the rate of 15% for two yr. The total interest paid by him was Rs 9000. How much did he borrow ?

a) Rs 32000

b) Rs 33000

c) Rs 30000

d) Rs 63000

View Answer
Option – b)

13) If the CI on a certain sum for 2 yr at 4% be Rs 510, What would be the SI ?

a) Rs 500

b) Rs 505

c) Rs 400

d) Rs 475

View Answer
Option – a)

14) A sum of money invested at simple interest triples itself in 8 years at simple interest. Find in how many years will it become 8 times itself at the same rate?

(a) 24 years

(b) 28 years

(c) 30 years

(d) 21 years

View Answer
Option – b)

15) Seema invested an amount of Rs 16000 for two years at compound interest and received an amount of Rs 17640 on maturity. What is the rate of interest ?

a) 8%

b) 5%

c) 4%

d) 3%

View Answer
Option – b)
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