Simple Interest Questions for Competitive Exams

Vikram Singh4 years ago 9.3K Views Join Examsbookapp store google play
simple interest questions

Simple interest is the most important part of the mathematics subject and often questions are asked in all competitive examinations. When a person borrows money from another person or from a bank, they have to pay interest at a fixed rate from time to time. But, when interest is charged only on the principal, at the same rate for a fixed period of time, then it is called simple interest. Also, interest can be seen as "rent of money". Simple interest is derived with the help of a formula such as simple interest = principal × time × rate / 100 or simple interest = compounding - principal.

Here today in this article, we have covered simple interest-based questions to help the aspirants, which will help you to solve stressful questions in the exam and build a strong foundation. Also, if you practice these questions regularly, then you can get full marks under this topic.

Simple Interest Questions

Q :  

Megha invests an amount of Rs. 15,860 in the names of her three daughters A, B and C in such a way that they get the same interest after 2, 3 and 4 years respectively. If the rate of simple interest is 5 % p.a, then the ratio of the amounts invested among A, B and C will be – 

(A) 6 : 7 : 8

(B) 6 : 5 : 4

(C) 5 : 10 : 12

(D) $${1\over 10}:{1\over 15}:{1\over 20}$$

Correct Answer : D

Q :  

A sum of Rs. 400 becomes Rs. 448 at simple interest in 2 years. In how many years, will the sum of Rs. 550 amounts to Rs. 682 at the same rate?

(A) 3.5

(B) 4

(C) 2

(D) 3

Correct Answer : B

Q :  

2 years, a sum was put at SI at a certain rate. If the rate was 3 % higher, it would have fetched 300 more. What will be the sum? 

(A) 2500

(B) 4484

(C) 5000

(D) 4800

Correct Answer : C

Q :  

A person invested some amount at the rate of 12 % simple interest and a certain amount at the rate of 10 % simple interest for 1 year. He received yearly interest of Rs. ₹ 130, but if he had interchanged the amount invested, he would have received 4 more as interest. How much did he invest at 12 % simple interest? 

(A) 800

(B) 500

(C) 700

(D) 400

Correct Answer : B

Q :  

The simple interest on a sum of money for 10 year is Rs. 3130. If the principal becomes 5 times after 5 years, then what will be the total interest (in Rs) obtained after 10 years? 

(A) 9390

(B) 15650

(C) 6260

(D) 7825

Correct Answer : A

Q :  

In a certain time, the ratio of a certain principle and interest obtained from it are in the ratio 10 : 3 at 10 % interest per annum. The number of years for which the money was invested is? 

(A) 5 years

(B) 7 years

(C) 1 years

(D) 3 years

Correct Answer : D

Q :  

If the simple interest on a certain sum of money for 2 years in one fifth of the Principal, then find rate of interest per annum. 

(A) 25%

(B) 15%

(C) 10%

(D) 20%

Correct Answer : C

Q :  

If the simple interest on ₹ 1 for 1 month is 1 paisa, then the rate percent per annum will be 

(A) 12%

(B) 6 %

(C) 10 %

(D) 8 %

Correct Answer : A

Q :  

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 

(A) ₹ 5000, ₹ 5000

(B) ₹ 5500 , ₹ 4500

(C) ₹ 4000 , ₹ 6000

(D) ₹ 4500, ₹ 5500

Correct Answer : C

Q :  

Ankur borrowed sum money from Megha at 8 % P.a simple interest and twice the amount from Harshita at 9 % P.a simple interest. He then added some more money of his own and lent the entire amount to Shalini at 10 % p.a simple interest. At the end of the year Ankur gained 14,000. If Ankur lend ₹ 40,000 to Shalini, then how much did Ankur borrow from Megha ? 

(A) ₹ 15,000

(B) ₹ 10,000

(C) ₹ 25,000

(D) ₹ 20,000

Correct Answer : B

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    Vikram Singh

    Providing knowledgable questions of Reasoning and Aptitude for the competitive exams.

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