Top 20 Simple and Compound Interest – Mathematics MCQ

If you are preparing for Defence Exam, then here you can practice Simple and Compound Interest MCQ which can help in your preparation.

Question 1 – Calculate the compound interest on Rs. 9,000 in 2 years when the rate of interest for successive years are 10% and 12% respectively.

(A) Rs. 1,288

(B) Rs. 2,088

(D) Rs. 4,256

Question 2- A certain sum of money in simple interest scheme amount to Rs. 8,880 in 6 years and Rs. 7,920 in 4 years respectively. Find the principal and rate percent.

(A) Principal = 6,000, rate = 8%

(B) Principal = 6,300, rate = 8%

(D) Principal = 6,300, rate = 7.5%

Question 3- In how much time will a sum of Rs. 1600 amount to Rs. 1852.20 at 5% per annum compound interest?

(A) 1 year

(B) 2 years

(D) 4 years

Question 4- Rs. 800 amounts to Rs. 920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to

(A) Rs. 992

(B) Rs. 1056

(D) Rs. 1182

Question 5- Find the compound interest on Rs. 1000 for 10 years at 4% per annum if the interest is calculated quarterly

(A) 398

(B) 478

(D) 504

Simple and Compound Interest

Question 6- A sum invested under compound interest doubles itself in 10 years. In how many years will it become 8 times of the initial amount?

(A) 15 years

(B) 20 years

(D) 30 years

Question 7- A sum of Rs. 2,500 deposited in a bank gives an interest of Rs. 100 in 6 months. What will be the interest on Rs. 3,200 for 9 months at the same rate of interest?

(A) Rs. 178

(B) Rs. 192

(D) Rs. 208

Question 8- A sum of money becomes 1.331 times in 3 years as compound interest. The rate of interest is

(A) 7%

(B) 8.5%

(D) 12.5%

Question 9- The difference between the interest received from two different banks on Rs. 500 for. 2 years, is Rs. 2.50. The difference between their rates is

(A) 0.25%

(B) 0.5%

(D) 1.5%

Question 10- Tharun makes a deposit of Rs. two lakhs in a bank for 5 years. If the rate of interest is 8% per annum. Find .the maturity value at the end of 5 years.

(A) 2,00,000

(B) 2,40,000

(D) 2,80,000

Simple and Compound Interest

Question 11- At what rate percent compound interest per annum will Rs. 640 amount to Rs. 774.40 in 2 years?

(A) 4%

(B) 6%

(D) 10%

Question 12- The simple interest on a certain sum for 3 years at 14% per annum is Rs. 235.20. The sum is

(A) Rs. 460

(B) Rs. 560

(D) Rs. 700

Question 13- Find the compound interest on Rs. 50,000 at 16% per annum for 2 years compounded continuously

(A) Rs. 17,280

(B) Rs. 16,180

(D) Rs. 14,180

Question 14- The simple interest on a sum of money is 9/16 of the principal. Find the rate percent and time if both are numerically equal.

(A) 8.25%, 8.25 years

(B) 7.25%, 7.25 years

(D) 8.5%, 8.5 years

Question 15- A certain sum of money amounts to Rs. 8,880 in 6 years and Rs. 7,920 in 4 years respectively.

(A) Rs. 5,680

(B) Rs. 6,000

(D) Rs. 11,000

Simple and Compound Interest

Question 16- The principal that will yield a compound interest of Rs. 1632 in 2 years at 4% rate of interest per annum is

(A) Rs. 20,000

(B) Rs. 22,000

(D) Rs. 32,000

Question 17- Find the compound interest on Rs. 16,000 at 20% per annum for 9 months compounded quarterly

(A) Rs. 2,522

(B) Rs. 16,200

(D) Rs. 18,433

Question 18- A sum of money triples itself at 8% simple interest per annum over a certain time. Then the number of years is

(A) 15

(B) 20

(D) 30

Question 19- Two equal sums of money were lent at simple interest at 11% p.a. for 3.5 years and 4.5 years respectively. If the difference in interests for two periods was Rs. 412.50, then their sum is

(A) Rs. 3,150

(B) Rs. 3,450

(D) Rs, 4,150

Question 20- What will be the amount a man would get, if he invests Rs. 10,000 at 9% per annum simple interest for 3 years?

(A) Rs. 11,500

(B) Rs. 12,200

(D) Rs. 12,700

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