**Simple & Compound Interest MCQ Questions Answers – Quantitative Aptitude**

**1) The simple interest on a sum of money is equal to the principle and the number of year is equal to the rate percent per annum. The rate percent is**

a) 25 %

b) 100 %

c) 10 %

d) 12 %

[su_spoiler title=”View Answer” style=”fancy” icon=”arrow-circle-1″]Option – c)[/su_spoiler]

**2) A borrowed Rs 5000 from B at simple interest. After 4 yr, B received Rs 1000 more than the amount given to B on loan. The rate of interest was**

a) 5%

b) 25 %

C) 20 %

d) 4%

[su_spoiler title=”View Answer” style=”fancy” icon=”arrow-circle-1″]Option – a)[/su_spoiler]

**3) If the simple interest on Rs 1500 increases by Rs 30, when the time increases by 8 yr. The arte precent per annum is**

a) 0.5%

b) 0.25%

c) 0.755

d) 1.25%

[su_spoiler title=”View Answer” style=”fancy” icon=”arrow-circle-1″]Option – b)[/su_spoiler]

**4) A sum of money placed at compound interest thrice itself in 4 yr. In how many years will it amount to 27 times itself ?**

a) 12 yr

b) 15 yr

c) 14 yr

d) `10 yr

[su_spoiler title=”View Answer” style=”fancy” icon=”arrow-circle-1″]Option – d)[/su_spoiler]

**5)The simple interest on a certain sum of money for 3 yr at 5 percent is Rs 1324.05. What is the simple interest ?**

a) Rs 1260

b) Rs 1560

c) Rs 1160

d) Rs 1360

[su_spoiler title=”View Answer” style=”fancy” icon=”arrow-circle-1″]Option – a)[/su_spoiler]

**6) Michael Bolton has $90,000 with him. He purchases a car, a laptop and a flat for $15,000, ****$13,000 and $35,000 respectively and puts the remaining money in a bank deposit that pays ****compound interest @15% per annum. After 2 years, he sells off the three items at 80% of their ****original price and also withdraws his entire money from the bank by closing the account. What is ****the total change in his asset?**

(a) –4.5%

(b) +3.5%

(c) –4.32%

(d) +5.5%

[su_spoiler title=”View Answer” style=”fancy” icon=”arrow-circle-1″]Option – c)[/su_spoiler]

**7) At what percent will the compound interest, does a sum of money become 27 times in 3 yr ?**

a) 100 %

b) 150%

c) 75%

d) 200%

[su_spoiler title=”View Answer” style=”fancy” icon=”arrow-circle-1″]Option – d)[/su_spoiler]

**8) At what rate of interest per annum will a sum becomes 5 times in 20 yr at SI ?**

a) 20%

b) 16%

c) 25%

d) 10%

[su_spoiler title=”View Answer” style=”fancy” icon=”arrow-circle-1″]Option – a)[/su_spoiler]

**9) The RBI lends a certain amount to the SBI on simple interest for two years at 20%. The SBI gives ****this entire amount to Bharti Telecom on compound interest for two years at the same rate annually. ****Find the percentage earning of the SBI at the end of two years on the entire amount.**

(a) 4%

(b) 3(1/7)%

(c) 3(2/7)%

(d) 3(6/7)%

[su_spoiler title=”View Answer” style=”fancy” icon=”arrow-circle-1″]Option – a)[/su_spoiler]

**10) A sum was put at a certain rate for 3 yr. Had it been put at 4% high rate, it would have fetched Rs 600 more. The sum was**

a) Rs 5000

b) Rs 4000

c)Rs 6000

d) Rs 3000

[su_spoiler title=”View Answer” style=”fancy” icon=”arrow-circle-1″]Option – a)[/su_spoiler]

**11) A sum of money amounts to Rs 6690 after 3 yr and to Rs 10035 after 6 yr on compound interest. The sum is**

a) Rs 4460

b) Rs 3650

c) Rs 4535

d) Rs 2800

[su_spoiler title=”View Answer” style=”fancy” icon=”arrow-circle-1″]Option – a)[/su_spoiler]

**12) Anish borrowed Rs 15000 at the rate of 12% and another amount at the rate of 15% for two yr. The total interest paid by him was Rs 9000. How much did he borrow ?**

a) Rs 32000

b) Rs 33000

c) Rs 30000

d) Rs 63000

[su_spoiler title=”View Answer” style=”fancy” icon=”arrow-circle-1″]Option – b)[/su_spoiler]

**13) If the CI on a certain sum for 2 yr at 4% be Rs 510, What would be the SI ?**

a) Rs 500

b) Rs 505

c) Rs 400

d) Rs 475

[su_spoiler title=”View Answer” style=”fancy” icon=”arrow-circle-1″]Option – a)[/su_spoiler]

**14) A sum of money invested at simple interest triples itself in 8 years at simple interest. Find in how ****many years will it become 8 times itself at the same rate?**

(a) 24 years

(b) 28 years

(c) 30 years

(d) 21 years

[su_spoiler title=”View Answer” style=”fancy” icon=”arrow-circle-1″]Option – b)[/su_spoiler]

**15) Seema invested an amount of Rs 16000 for two years at compound interest and received an amount of Rs 17640 on maturity. What is the rate of interest ?**

a) 8%

b) 5%

c) 4%

d) 3%

[su_spoiler title=”View Answer” style=”fancy” icon=”arrow-circle-1″]Option – b)[/su_spoiler]