100+ Simple Interest Questions and Answers for Bank Exams - 1

Question: 1

Rs.6200 amount to Rs.9176 in 4 years at simple interest. If the interest rate is increased by 3% it would amount to how much?

(A) Rs. 8432

(B) Rs. 9820

(C) Rs. 9822

(D) Rs. 9920

Question: 2

Rs.1000 is invested at 5% per annum simple interest. If the interest is added to the principal after every 10 years, the amount will become Rs.2000 after

(A) 15 years

(B) $$16{2}/{3}$$

(C) 18 years

(D) 20 years

Question: 3

What should be the least number of years in which the simple interest on Rs. 2600 at $$6{2} / {3}$$% will be an exact number of rupees?

(A) 2 years

(B) 3 years

(C) 4 years

(D) 5 years

Question: 4

A person takes a loan of Rs. 200 at 5% simple interest. He returns Rs. 100 at the end of 1 year. In order to clear his dues at the end of 2 years, he would pay

(A) Rs. 105

(B) Rs. 110

(C) Rs. 115

(D) Rs. 120

Question: 5

An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes

(A) 10%

(B) 10.5%

(C) 10.25%

(D) 10.35%