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