Simple Interest questions and answers

20 questions in 2 online tests, each with its answer and a worked solution.

Start Test 1

Simple Interest: key points

Simple interest is interest charged only on the original sum (the principal), so it is the same for every year of the loan.

  • SI = P × R × T / 100, where P is the principal, R the rate per cent per annum and T the time in years.
  • Amount = P + SI.
  • R = 100 × SI / (P × T) and T = 100 × SI / (P × R).
  • A sum doubles itself in T years when R = 100 / T.

How to practise Simple Interest

Start with the key points, then take one Simple Interest test without rushing. Review every explanation, note the steps you missed and repeat the topic against the clock. APTITUDE TESTER has 20 questions in 2 tests for this topic.

  • Read the method before attempting a timed test.
  • Record mistakes by type: concept, calculation or time management.
  • Return to the hardest questions after a day and try them again.

Continue with another Quantitative topic when your accuracy is steady.

Simple Interest online tests

Sample Simple Interest questions

  1. 1. Find the simple interest on Rs. 6,000 at 5% per annum for 4 years.
    1. Rs. 1,020
    2. Rs. 1,200
    3. Rs. 300
    4. Rs. 1,260

    Reference: q-10899d97-67 · Report this question

    Show answer and solution

    Answer: B. Rs. 1,200

    SI = P × R × T / 100 = 6,000 × 5 × 4 / 100 = Rs. 1,200.
  2. 2. What amount will Rs. 6,000 become in 2 years at 5% per annum simple interest?
    1. Rs. 6,600
    2. Rs. 600
    3. Rs. 6,840
    4. Rs. 6,240

    Reference: q-a752fcc4-78 · Report this question

    Show answer and solution

    Answer: A. Rs. 6,600

    SI = 6,000 × 5 × 2 / 100 = Rs. 600. Amount = Rs. 6,000 + Rs. 600 = Rs. 6,600.
  3. 3. At what rate per annum will Rs. 5,000 earn a simple interest of Rs. 800 in 2 years?
    1. 8%
    2. 6%
    3. 5%
    4. 7%

    Reference: q-394b48a5-84 · Report this question

    Show answer and solution

    Answer: A. 8%

    R = 100 × SI / (P × T) = 100 × 800 / (5,000 × 2) = 8%.

See all the questions of Test 1

Simple Interest: questions people ask

How many Simple Interest questions are there?

There are 20 Simple Interest questions in 2 tests. Each test has its own page that lists the questions with their answers and solutions.

How long does a Simple Interest test take?

A test of 10 questions has a time limit of 15 minutes, which is 90 seconds a question.

Is there negative marking?

Rules vary by set. The rules screen shows the time limit, marks, any wrong-answer penalty and calculator permission before you begin. Feedback mode has no time limit or negative marking.

Can I practise Simple Interest without a time limit?

Yes. Choose practice mode: there is no clock, and the answer and solution appear as soon as you select an option.