Simple and Compound Interest MCQs with Answers

Past Paper MCQ

Hassan borrowed $5000$ with simple interest for five years. He paid an extra $500$, then how much percent does he pay per annum?

• A.$1\%$
• B.$2.5\%$
• C.$2\%$
• D.$5\%$

Past Paper MCQ

A man takes a loan of $65000$ at an annual interest rate of $3\%$. In how many years will the interest become $68900$?

• A.$5$
• B.$3$
• C.$4$
• D.$2$

Past Paper MCQ

Find the time when the Simple Interest is $81$, Principal is $450$, and Rate is $5\%$.

• A.$2.8$ years
• B.$4.2$ years
• C.$3.6$ years
• D.$5.0$ years

Past Paper MCQ

If the interest on Rs. 800 in 2 years is more than the interest on Rs. 400 by Rs. 40 in 2 years, find the rate of simple interest.

• A.$5\%$
• B.$10\%$
• C.$8\%$
• D.$4\%$

Past Paper MCQ

A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is _?

• A.Rs. 710
• B.Rs. 700
• C.Rs. 690
• D.Rs. 698

Past Paper MCQ

Find the compound interest on ₹50,000 at the rate of 12% per annum compounded quarterly for a period of 6 months.

• A.₹3,060
• B.₹3,000
• C.₹3,045
• D.₹2,940