**Simple Interest MCQs** are very important test and often asked by various testing services and competitive exams around the world. Here you will find all the Important **Simple Interest MCQs** for Preparation.

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The formula to calculate simple interest is:

a) P = (P * R * T) / 100

b) I = (P * R * T) / 100

c) R = (P * I * T) / 100

d) T = (P * R * I) / 100

A sum of $5,000 is invested at an interest rate of 8% per annum for 3 years. What is the simple interest earned?

a) $1,200

b) $1,200.50

c) $1,201

d) $1,201.50

What is the rate of interest if the principal amount of $2,000 earns a simple interest of $400 in 5 years?

a) 4%

b) 6%

c) 8%

d) 10%

If the principal amount is $1,500 and the rate of interest is 6% per annum, what is the simple interest for 4 years?

a) $360

b) $400

c) $440

d) $480

The principal amount is $3,000 and the simple interest is $600. What is the rate of interest per annum?

a) 2%

b) 4%

c) 6%

d) 8%

An amount of $10,000 is invested at an interest rate of 5% per annum for 2 years. What is the simple interest earned?

a) $1,000

b) $1,500

c) $2,000

d) $2,500

The principal amount is $4,000 and the rate of interest is 10% per annum. What is the simple interest for 3 years?

a) $1,000

b) $1,200

c) $1,400

d) $1,600

If the principal amount is $5,000 and the simple interest is $750, what is the rate of interest per annum?

a) 10%

b) 12%

c) 15%

d) 18%

A sum of $8,000 is invested at an interest rate of 7.5% per annum for 4 years. What is the simple interest earned?

a) $2,400

b) $2,600

c) $2,800

d) $3,000

The principal amount is $6,000 and the simple interest is $720. What is the time period in years?

a) 1

b) 2

c) 3

d) 4

The formula to calculate the principal amount is:

a) P = (I * R * T) / 100

b) I = (P * R * T) / 100

c) R = (P * I * T) / 100

d) T = (P * R * I) / 100

A sum of $4,500 earns a simple interest of $900 in 2 years. What is the rate of interest per annum?

a) 10%

b) 12%

c) 15%

d) 20%

What is the time period if the principal amount is $3,000 and the simple interest is $1,200 at an interest rate of 8% per annum?

a) 3 years

b) 4 years

c) 5 years

d) 6 years

The principal amount is $2,000 and the rate of interest is 7.5% per annum. What is the simple interest for 3 years?

a) $450

b) $525

c) $600

d) $675

If the principal amount is $2,500 and the simple interest is $375, what is the rate of interest per annum?

a) 5%

b) 7%

c) 10%

d) 12.5%

An amount of $7,500 is invested at an interest rate of 6% per annum for 5 years. What is the simple interest earned?

a) $2,250

b) $2,500

c) $2,750

d) $3,000

The principal amount is $5,000 and the simple interest is $800. What is the time period in years?

a) 2

b) 3

c) 4

d) 5

If the principal amount is $10,000 and the rate of interest is 8% per annum, what is the simple interest for 3 years?

a) $2,000

b) $2,400

c) $2,800

d) $3,200

A sum of $12,000 is invested at an interest rate of 5.5% per annum for 2 years. What is the simple interest earned?

a) $1,100

b) $1,200

c) $1,300

d) $1,400

The principal amount is $15,000 and the simple interest is $2,250. What is the rate of interest per annum?

a) 5%

b) 10%

c) 12.5%

d) 15%

The formula to calculate the time period is:

a) T = (P * I * R) / 100

b) I = (P * R * T) / 100

c) R = (P * I * T) / 100

d) P = (I * R * T) / 100

A sum of $6,000 earns a simple interest of $1,800 in 3 years. What is the rate of interest per annum?

a) 10%

b) 12%

c) 15%

d) 20%

What is the principal amount if the simple interest is $600, the rate of interest is 8% per annum, and the time period is 5 years?

a) $3,000

b) $4,000

c) $5,000

d) $6,000

The principal amount is $8,000 and the rate of interest is 9% per annum. What is the simple interest for 4 years?

a) $2,160

b) $2,400

c) $2,640

d) $2,880

If the principal amount is $1,000 and the simple interest is $200, what is the time period in years?

a) 1

b) 2

c) 3

d) 4

An amount of $5,000 is invested at an interest rate of 6.5% per annum for 2 years. What is the simple interest earned?

a) $650

b) $700

c) $750

d) $800

The principal amount is $3,500 and the simple interest is $525. What is the rate of interest per annum?

a) 5%

b) 7%

c) 8%

d) 10%

If the principal amount is $9,000 and the rate of interest is 7.5% per annum, what is the simple interest for 5 years?

a) $2,025

b) $2,125

c) $2,225

d) $2,325

A sum of $7,500 is invested at an interest rate of 5% per annum for 4 years. What is the simple interest earned?

a) $1,000

b) $1,500

c) $2,000

d) $2,500

The principal amount is $4,000 and the simple interest is $640. What is the time period in years?

a) 2

b) 3

c) 4

d) 5

The formula to calculate the rate of interest is:

a) R = (P * I * T) / 100

b) I = (P * R * T) / 100

c) P = (I * R * T) / 100

d) T = (P * R * I) / 100

A sum of $6,500 earns a simple interest of $1,300 in 2 years. What is the rate of interest per annum?

a) 8%

b) 10%

c) 12%

d) 15%

What is the time period if the principal amount is $2,500 and the simple interest is $500 at an interest rate of 10% per annum?

a) 2 years

b) 3 years

c) 4 years

d) 5 years

The principal amount is $1,800 and the rate of interest is 9% per annum. What is the simple interest for 3 years?

a) $486

b) $540

c) $594

d) $648

If the principal amount is $2,500 and the simple interest is $375, what is the rate of interest per annum?

a) 5%

b) 7%

c) 10%

d) 12.5%

An amount of $8,000 is invested at an interest rate of 6% per annum for 4 years. What is the simple interest earned?

a) $1,440

b) $1,600

c) $1,760

d) $1,920

The principal amount is $5,000 and the simple interest is $900. What is the time period in years?

a) 2

b) 3

c) 4

d) 5

If the principal amount is $10,000 and the rate of interest is 8% per annum, what is the simple interest for 4 years?

a) $3,200

b) $3,600

c) $4,000

d) $4,400

A sum of $12,000 is invested at an interest rate of 5.5% per annum for 3 years. What is the simple interest earned?

a) $1,980

b) $2,070

c) $2,160

d) $2,250

The principal amount is $15,000 and the simple interest is $1,875. What is the rate of interest per annum?

a) 5%

b) 10%

c) 12.5%

d) 15%

The formula to calculate the time period is:

a) T = (P * I * R) / 100

b) I = (P * R * T) / 100

c) R = (P * I * T) / 100

d) P = (I * R * T) / 100

A sum of $6,000 earns a simple interest of $1,200 in 4 years. What is the rate of interest per annum?

a) 5%

b) 10%

c) 15%

d) 20%

What is the principal amount if the simple interest is $400, the rate of interest is 8% per annum, and the time period is 5 years?

a) $1,000

b) $1,500

c) $2,000

d) $2,500

The principal amount is $8,000 and the rate of interest is 9% per annum. What is the simple interest for 5 years?

a) $3,600

b) $3,800

c) $4,000

d) $4,200

If the principal amount is $1,500 and the simple interest is $225, what is the time period in years?

a) 1

b) 2

c) 3

d) 4

An amount of $5,000 is invested at an interest rate of 6.5% per annum for 3 years. What is the simple interest earned?

a) $975

b) $1,000

c) $1,025

d) $1,050

The principal amount is $3,000 and the simple interest is $450. What is the rate of interest per annum?

a) 5%

b) 7%

c) 8%

d) 10%

If the principal amount is $9,000 and the rate of interest is 7.5% per annum, what is the simple interest for 6 years?

a) $4,725

b) $4,950

c) $5,175

d) $5,400

A sum of $6,500 is invested at an interest rate of 5% per annum for 5 years. What is the simple interest earned?

a) $1,625

b) $1,750

c) $1,875

d) $2,000

The principal amount is $4,000 and the simple interest is $720. What is the time period in years?

a) 1

b) 2

c) 3

d) 4

The formula to calculate simple interest is:

a) SI = (P * R * T) / 100

b) SI = (P * T) / (R * 100)

c) SI = (R * T) / (P * 100)

d) SI = (T * 100) / (P * R)

A principal amount of $2,000 earns a simple interest of $400 in 2 years. What is the rate of interest per annum?

a) 5%

b) 10%

c) 15%

d) 20%

If the principal amount is $5,000 and the rate of interest is 8% per annum, what is the simple interest for 3 years?

a) $1,000

b) $1,200

c) $1,400

d) $1,600

What is the time period if the principal amount is $1,200 and the simple interest is $240 at an interest rate of 10% per annum?

a) 1 year

b) 2 years

c) 3 years

d) 4 years

An amount of $3,500 is invested at an interest rate of 6% per annum for 4 years. What is the simple interest earned?

a) $600

b) $800

c) $1,000

d) $1,200

The principal amount is $6,000 and the simple interest is $1,800. What is the rate of interest per annum?

a) 8%

b) 10%

c) 12%

d) 15%

If the principal amount is $10,000 and the simple interest is $500, what is the time period in years?

a) 1

b) 2

c) 3

d) 4

The formula to calculate the principal amount is:

a) P = (SI * 100) / (R * T)

b) P = (SI * T) / (R * 100)

c) P = (R * T) / (SI * 100)

d) P = (T * 100) / (SI * R)

A sum of $5,000 earns a simple interest of $800 in 2 years. What is the rate of interest per annum?

a) 8%

b) 10%

c) 12%

d) 15%

What is the simple interest if the principal amount is $2,500, the rate of interest is 6% per annum, and the time period is 3 years?

a) $350

b) $450

c) $550

d) $650

The principal amount is $4,000 and the simple interest is $480. What is the time period in years?

a) 1

b) 2

c) 3

d) 4

An amount of $7,500 is invested at an interest rate of 5.5% per annum for 3 years. What is the simple interest earned?

a) $1,232.50

b) $1,287.50

c) $1,342.50

d) $1,397.50

The principal amount is $3,000 and the rate of interest is 7% per annum. What is the simple interest for 4 years?

a) $840

b) $860

c) $880

d) $900

If the principal amount is $2,500 and the simple interest is $375, what is the rate of interest per annum?

a) 5%

b) 6%

c) 7%

d) 8%

The formula to calculate the time period is:

a) T = (SI * 100) / (P * R)

b) T = (SI * R) / (P * 100)

c) T = (P * R) / (SI * 100)

d) T = (SI * 100) / (P * R)

A sum of $5,000 is invested at an interest rate of 5.5% per annum for 5 years. What is the simple interest earned?

a) $1,375

b) $1,425

c) $1,475

d) $1,525

The principal amount is $2,000 and the simple interest is $480. What is the rate of interest per annum?

a) 8%

b) 10%

c) 12%

d) 15%

If the principal amount is $4,500 and the rate of interest is 9% per annum, what is the simple interest for 2 years?

a) $720

b) $810

c) $900

d) $990

What is the time period if the principal amount is $3,000 and the simple interest is $300 at an interest rate of 10% per annum?

a) 1 year

b) 2 years

c) 3 years

d) 4 years

An amount of $8,000 is invested at an interest rate of 6.5% per annum for 4 years. What is the simple interest earned?

a) $2,080

b) $2,240

c) $2,400

d) $2,560

The principal amount is $5,500 and the simple interest is $825. What is the rate of interest per annum?

a) 4%

b) 6%

c) 8%

d) 10%

If the principal amount is $6,000 and the simple interest is $540, what is the time period in years?

a) 1

b) 2

c) 3

d) 4

The formula to calculate the principal amount is:

a) P = (SI * 100) / (R * T)

b) P = (SI * T) / (R * 100)

c) P = (R * T) / (SI * 100)

d) P = (T * 100) / (SI * R)

A sum of $4,500 earns a simple interest of $900 in 3 years. What is the rate of interest per annum?

a) 5%

b) 10%

c) 15%

d) 20%

What is the simple interest if the principal amount is $3,000, the rate of interest is 7% per annum, and the time period is 2 years?

a) $420

b) $430

c) $440

d) $450