Q. Rate of interest is doubled. Simple interest will become:
(A)
Half
(B)
One-third
(C)
Double
(D)
Triple
✅ Correct Answer: (C)
Double
Explanation: SI ∝ R, so doubling rate → doubles SI.
Q. Which of the following formulas is correct for simple interest?
(A)
SI = P × R × T / 100
(B)
SI = P × T² / 100
(C)
SI = P × R² / 100
(D)
SI = (P + R + T) / 100
✅ Correct Answer: (A)
SI = P × R × T / 100
Explanation: Standard formula for simple interest.
Q. If principal is doubled and time is halved, simple interest will be:
(A)
Doubled
(B)
Same
(C)
Halved
(D)
Tripled
✅ Correct Answer: (B)
Same
Explanation: SI ∝ P×T, doubling P and halving T gives same product.
Q. What is the amount after 3 years on Rs. 2500 at 12% per annum simple interest?
(A)
Rs. 3100
(B)
Rs. 3250
(C)
Rs. 3400
(D)
Rs. 3600
✅ Correct Answer: (C)
Rs. 3400
Explanation: SI = 2500×12×3/100 = 900. Amount = 2500 + 900 = 3400.
Q. What is the simple interest on Rs. 5600 for 5 years at 9% per annum?
(A)
Rs. 2520
(B)
Rs. 2600
(C)
Rs. 2700
(D)
Rs. 3000
✅ Correct Answer: (A)
Rs. 2520
Explanation: SI = (5600×9×5)/100 = 2520.
Q. A sum gives Rs. 240 as simple interest in 2 years at 6% per year. What fraction of the principal is the interest?
(A)
3/100
(B)
6/100
(C)
12/100
(D)
24/100
✅ Correct Answer: (C)
12/100
Explanation: Total interest percent = 6×2 = 12%, i.e., 12/100 of principal.
Q. A sum becomes ₹1500 in 2 years at 5% simple interest. What is the principal?
(A)
₹1300
(B)
₹1357
(C)
₹1425
(D)
₹1360
✅ Correct Answer: (A)
₹1300
Explanation: Interest = (P × R × T) / 100 → 1500 = P + (P×5×2)/100 → 1500 = P(1 + 0.1) → P = 1500/1.1 = 1300.
Q. Simple interest on ₹6000 for 3 years is ₹1080. What is the rate of interest?
(A)
4%
(B)
5%
(C)
6%
(D)
8%
✅ Correct Answer: (C)
6%
Explanation: SI = (P × R × T) / 100 → 1080 = (6000 × R × 3)/100 → R = (1080 × 100) / 18000 = 6%.
Q. The rate of interest is 12% per annum. How long will it take for an amount to become 1.36 times itself?
(A)
3 years
(B)
4 years
(C)
5 years
(D)
3.5 years
✅ Correct Answer: (A)
3 years
Explanation: Increase = 36% → 36/12 = 3 years.
Q. How much simple interest will ₹7500 earn in 2.5 years at 8% per annum?
(A)
₹1200
(B)
₹1400
(C)
₹1500
(D)
₹1600
✅ Correct Answer: (C)
₹1500
Explanation: SI = (7500 × 8 × 2.5) / 100 = 1500.
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