Selected MCQ

Current Question
If the simple interest on a sum for 3⅛ years is one-fourth of the principal, what is the rate?
  • A. 6%
  • B. 4%
  • C. 8%
  • D. 12%
Correct Answer: C
Explanation:
SI = PRT/100 → R = 8%.
Related Question 1
There is a 60% increase in a sum in 6 years at simple interest. What will be the compound interest on Rs. 12000 for 3 years at the same rate?
  • A. Rs. 2160
  • B. Rs. 3120
  • C. Rs. 3972
  • D. Rs. 6240
Correct Answer: C
Explanation:
Rate = 10%, CI = 12000[(1.1)³ − 1] = 3972.
Related Question 2
The simple interest on Rs. 12000 for 5 years is Rs. 7200. Find the compound interest for the same period and rate.
  • A. Rs. 3502.80
  • B. Rs. 3052.40
  • C. Rs. 3054.80
  • D. Rs. 3052.80
Correct Answer: D
Explanation:
Rate = 12%, apply the compound interest formula.
Related Question 3
The simple interest on Rs. 49500 for 3 years is Rs. 17820. What is the compound interest on the same sum and time at the same rate?
  • A. Rs. 20043.94
  • B. Rs. 18654.81
  • C. Rs. 20264.46
  • D. Rs. 19612.41
Correct Answer: A
Explanation:
First, find the rate from SI, then apply the CI formula to get Rs. 20043.94.
Related Question 4
If a sum earns Rs. 500 as simple interest in 5 years at 5%, principal is ____.
  • A. Rs. 2000
  • B. Rs. 2500
  • C. Rs. 3000
  • D. Rs. 1500
Correct Answer: A
Explanation:
P = (SI×100)/(RT) = 2000.
Related Question 5
If a sum is invested at 10% for 3 years, simple interest is Rs. 300. Principal is ____.
  • A. Rs. 800
  • B. Rs. 900
  • C. Rs. 1000
  • D. Rs. 1200
Correct Answer: C
Explanation:
SI = PRT/100 → P = 1000.