Simple and Compound Interest MCQs with Answers

Past Paper MCQ

A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?

• A.$5\%$
• B.$6\%$
• C.$7\%$
• D.$8\%$

Past Paper MCQ

A sum of money doubles in 3 years at compound interest, compounded annually at the same rate. In how many years will it become 4 times itself?

• A.4 years
• B.5 years
• C.6 years
• D.9 years

Past Paper MCQ

If $\$1000$ is deposited in a savings account with a $2\%$ annual interest rate, what will be the total interest after $3$ years (simple interest)?

• A.$\$20$
• B.$\$40$
• C.$\$60$
• D.$\$80$

Past Paper MCQ

The price of a printer is Rs 150,000 and it depreciates at 4% annually. What is the price of the printer after 3 years?

• A.Rs 1,32,710
• B.Rs 1,38,240
• C.Rs 1,27,100
• D.Rs 1,44,000

Past Paper MCQ

The principal that will amount to Rs. $270.40$ in $2$ years at the rate of $4\%$ per annum compound interest is:

• A.Rs. $240$
• B.Rs. $250$
• C.Rs. $260$
• D.Rs. $255$

Past Paper MCQ

Ali deposits an amount of Rs. 65800 to obtain simple interest at the rate of 14% per annum for 4 years. What total amount will Ali get at the end of 4 years?

• A.Rs. 104648
• B.Rs. 103648
• C.Rs. 101648
• D.Rs. 102648

Past Paper MCQ

The value of an article which was purchased 2 years ago depreciates at 12% per annum. If its present value is Rs. 9680, the price at which it was purchased is?

• A.Rs. 12,000
• B.Rs. 11,000
• C.Rs. 12,500
• D.Rs. 10,800

Past Paper MCQ

What will be the compound interest on a sum of Rs. $1875$ after $2$ years if the rate of interest for the first year is $4\%$ and that for the second year is $8\%$?

• A.Rs. $231$
• B.Rs. $240$
• C.Rs. $225$
• D.Rs. $236$

Past Paper MCQ

A man lends $60{,}000$ at simple interest at the rate of $9\%$ per year. What is the total amount (principal + interest) he receives after $3$ years?

• A.$72{,}000$
• B.$76{,}200$
• C.$78{,}600$
• D.$81{,}000$

Past Paper MCQ

The simple interest on a sum of money makes it become 3 times of itself in 20 years. In how many years will it become double of itself at the same rate of interest?

• A.5 years
• B.15 years
• C.10 years
• D.20 years