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Chapter:

20+ INTEREST Solved MCQs

in Business Mathematics

These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Business Administration in Computer Applications (BBA [CA]) , Bachelor of Business Administration (BBA) .

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Chapter: INTEREST
1.

Sam borrowed some money from his friend at simple interest of 6% per annum. He returned his friend Rs. 15600. After how much time did Sam return the money if he borrowed Rs. 12000?

A. 8 years
B. 2.5 years
C. 5 years
D. 3.5 years
Answer» C. 5 years
discuss
2.

Kabir paid Rs. 9600 as interest on a loan he took 5 years ago at 16% rate of simple interest. What was the amount he took as loan?

A. rs. 16400
B. rs. 12000
C. rs. 12500
D. rs. 18000
Answer» B. rs. 12000
discuss
3.

Suresh for 2 years invested Rs. 500 in SBI. He also invested Rs. 300 in ICICI for 4 years. At the end he received Rs. 220 from both banks as simple interest. What must have been rate of interest?

A. 10%
B. 12%
C. 11%
D. 5.5%
Answer» C. 11%
discuss (2)
4.

Raman paid Rs. 11400 as interest after 9 years. He had borrowed some money at rate of 6%
for first two years, 9% for next three years and 14% for rest of the period. How much money did
he borrow?

A. rs. 10000
B. rs. 15000
C. rs. 12000
D. rs. 12500
Answer» C. rs. 12000
discuss
5.

Ram gets Rs. 2600 for Rs. 2000 in 5 years at some rate of simple interest. Had he invested in
other places where rate of simple interest is 3% more than current rate, how much would have
Ram got in same time?

A. rs. 2900
B. rs. 3000
C. rs. 3100
D. rs. 2800
Answer» A. rs. 2900
discuss
6.

Guddi invested some money in a bank at rate of 6% per annum. At simple interest, after 9 years, she got Rs. 8470. How much did she invest?

A. rs. 5250
B. rs. 6550
C. rs. 6400
D. rs. 5500
Answer» D. rs. 5500
discuss
7.

Aman got a salary of Rs. 8600. The salary was invested by him in two parts. Find the
difference between the two parts of his salary, if in first part he got some simple interest at 15%
per annum in 4 years, which was same as the second part which he invested at 20% for 3 years.

A. rs. 0
B. rs. 2400
C. rs. 100
D. rs. 4500
Answer» A. rs. 0
discuss
8.

Aman invests Rs. 8000 at some rate of interest. Being simple interest the money doubles in 5
years. Raj sees this and invests Rs. 6250 for 3 years at same rate of interest. How much interest
does Raj get?

A. rs. 3750
B. rs. 6250
C. rs. 3125
D. rs. 4250
Answer» A. rs. 3750
discuss (1)
9.

If simple interest for 2 years for a sum is Rs. 600 and compound interest for the same sum for 2 years and same rate of interest is Rs. 645, what will be the rate of interest?

A. 10%
B. 15%
C. 30%
D. 5%
Answer» B. 15%
discuss
10.

In 4 years the simple interest on certain sum of money is 9/25 of the principal. The annual rate of interest is

A. 4%
B. 4(1/2)%
C. 9%
D. 10%
Answer» C. 9%
discuss
11.

A sum becomes Rs. 3000 at the rate of 12% per annum (simple interest). The same sum
becomes Rs. 3300 at the rate of 15% per annum (simple interest) in the same duration. Find the
sum and the duration.

A. rs. 2000 and 20 years
B. rs. 1900 and 8.25 years
C. rs. 1500 and 7 years
D. rs. 1800 and 5.5 years
Answer» D. rs. 1800 and 5.5 years
discuss
12.

An amount becomes 7 times in 15 years. In how many years will the same amount become 10 times? The rate of interest remains the same for both cases.

A. 20 years
B. 18.75 years
C. 22.50 years
D. 21.50 years
Answer» C. 22.50 years
discuss
13.

In 40 years an amount becomes 6 times the original amount. What is the rate of interest?

A. 12.5%
B. 24%
C. 6.67%
D. 34%
Answer» A. 12.5%
discuss
14.

A TV can be bought for Rs. 20000 cash or by paying in four equal monthly installments with
an initial down payment of Rs. 4000. If the rate of interest for this facility is 8% per annum, then
what would be the installment charged for each month?

A. rs. 4000
B. rs. 4106.67
C. rs. 4050.33
D. rs. 4066.01
Answer» D. rs. 4066.01
discuss
15.

How much should be the annual installment to completely pay off a debt of Rs. 1078 in 6 years at 9% per annum rate of interest?

A. rs.146.35
B. rs.156.25
C. rs.126.55
D. rs.118.35
Answer» A. rs.146.35
discuss
16.

Rs. 20400 was divided in two parts and then invested. One part invested at 6.25% for 8 years
yields the same interest as the other part invested at 7% for 5 years. What is the value of smaller
part?

A. 9600
B. 8400
C. 10100
D. 6500
Answer» A. 9600
discuss (1)
17.

1/5 part of an amount was given at 3% simple interest, 1/3 part was given at 5% simple
interest, 2/5 parts at 9% simple interest and remaining part at 11% simple interest. The total
interest received was Rs.297. How much amount was originally given?

A. 4500
B. 5500
C. 3950
D. 4200
Answer» A. 4500
discuss
18.

A man got Rs. 130 less, as simple interest, when he invested Rs. 2000 for 4 years as compared to investing Rs. 2250 for same duration. What is the rate of interest?

A. 12%
B. 13%
C. 12.5%
D. 10.50%
Answer» B. 13%
discuss
19.

Find the principal which yields a simple interest of Rs. 20 and compound interest of Rs. 21 in two years, at the same percent rate per annum?

A. rs. 520
B. rs. 480
C. rs. 420
D. rs. 200
Answer» D. rs. 200
discuss
20.

A sum of Rs. 4000 amounts to Rs. 4600 in 5 years at a certain rate of simple interest. What would be the amount, if the rate of interest is increased by 3 %.

A. rs. 4900
B. rs. 5000
C. rs. 5200
D. rs. 5600
Answer» C. rs. 5200
discuss
21.

Akhil borrowed a certain sum of money at the rate of 6%, 9% and 14% for a period of first
two years, next three years and beyond the period of five years respectively. If at the end of nine
years, he paid Rs. 8550 as interest, then find the sum of money he had borrowed.

A. rs. 9,000
B. rs.14,000
C. rs.15,000
D. rs.18,000
Answer» A. rs. 9,000
discuss
22.

r. Karan borrowed a certain amount at 6% per annum simple interest for 9 years. After 9 years, he returned Rs. 8110/-. Find out the amount that he borrowed.

A. rs. 4,900
B. rs. 5,000
C. rs. 5,100
D. rs. 5266
Answer» D. rs. 5266
discuss
23.

In how many years, Rs. 200 will produce the same interest @ 5 % as Rs. 900 produce in 2 years @ 3 ½ %?

A. 6.3 years
B. 8.2 years
C. 9 years
D. 12 years
Answer» A. 6.3 years
discuss
24.

certain sum earns simple interest of Rs. 800 in 2 years at a certain rate of interest. If the same
sum earns compound interest of Rs. 845 in the same period of 2 years, What must be the rate of
interest?

A. 5% p.a.
B. 7.5% p.a.
C. 10% p.a.
D. 12.5% p.a.
Answer» A. 5% p.a.
discuss
25.

Find the simple interest on Rs. 78000 at 15(2/5) % per annum for 9 months.

A. rs. 7804
B. rs. 8979
C. rs. 8046
D. rs. 9009
Answer» D. rs. 9009
discuss
26.

Simple interest at x% for x years will come out to be Rs x on a sum of Rs?

A. x
B. 100/x
C. 100/x2
D. 100x
Answer» B. 100/x
discuss
27.

What is the minimum number of years upon which SI on Rs 2600 at 6.67% interest rate will be in whole number?

A. 2
B. 6
C. 3
D. 4
Answer» C. 3
discuss
28.

What time will be taken by an amount of Rs. 900 to yield Rs. 81 as interest at 4.5% per annum of simple interest?

A. 2 years
B. 1 years
C. 3 years
D. 4 years
Answer» A. 2 years
discuss

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