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Simple Interest Questions for Bank Exams

Preparing for bank exams can be a daunting task, especially when it comes to the quantitative section. Among the various topics, simple interest is a crucial area that demands a solid understanding. Simple interest problems test your ability to handle calculations quickly and accurately. This article provides 50+ simple interest questions designed to help you excel in your bank exams.

Simple Interest Questions for Bank Exams

Mastering simple interest topic is essential for success in bank exams. By practicing these questions, you’ll enhance your problem-solving speed and accuracy. Remember to use the simple interest formula and familiarize yourself with various types of problems. With consistent practice, you’ll be well-prepared to tackle this section with confidence.

Q1. A borrowed Rs. 5000 from B at simple interest. After 4 years, B received Rs. 1000 more than the amount given to A on loan. The rate of interest was:
(a) 5%
(b) 25%
(c) 20%
(d) 4%
(e) None of these

Q2. The sum of money that will give Re 1 as interest per day at 5% per annum simple interest is:
(a) Rs.3650
(b) Rs.36500
(c) Rs.730
(d) Rs.7300
(e) None of these

Q3. A man deposits Rs. 4000 in a bank at 15% per annum and Rs. 6000 in another bank at 16% per annum. Find the rate of interest for the whole sum.
(a) 15.86%
(b) 31%
(c) 14.6%
(d) 15.6%
(e) None of these

Q4. The simple interest on a sum of money is equal to the principal and the number of years is equal to the rate per cent per annum. Find the rate per cent.
(a) 25%
(b) 100%
(c) 10%
(d) Can’t be possible
(e) None of these

Q5. What annual payment will discharge a debt of Rs. 9270 due 3 years hence at the rate of 3% simple interest ?
(a) Rs. 3000
(b) Rs. 2000
(c) Rs. 2500
(d) Rs. 3500
(e) None of these

Q6. A certain sum is invested for certain time. It amounts to Rs. 400 at 10% per annum. But when invested at 4% per annum, it amounts to Rs. 200. Find the time.
(a) 100 years
(b) 75 years
(c) 50 years
(d) 60 years
(e) None of these

Q7. Sudarshan has Rs. 1500, part of which he lent at 3 per cent and the rest at 2 per cent. The whole annual interest was Rs. 32. How much did he lend at 2 per cent ?
(a) Rs. 200
(b) Rs. 1300
(c) Rs. 300
(d) Rs. 1200
(e) None of these

Q8. Rs. 1,200 amounts to Rs. 1,632 in 4 years at a certain rate of simple interest. If the rate of interest is increased by 1%, it would amount to how much ?
(a) Rs. 1635
(b) Rs. 1644
(c) Rs. 1670
(d) Rs. 1680
(e) None of these

Q9. Shudhir invested Rs. 16000 in a scheme which earned him simple interest @ 15% per annum. After two years he withdrew the principal amount plus interest and invested the entire amount in another scheme for two years, which earned him compound interest @ 12% per annum. What would be the total interest earned by Sudhir at the end of 4 years?
(a) Rs. 9792
(b) Rs. 10152.11
(c) Rs. 9012.14
(d) Rs. 6,000
(e) None of these

Q10. A certain sum of money amounted to Rs. 1020 at 9% in a time in which Rs. 720 amounted to Rs. 880 at 4%. If the rate of interest is simple, find the sum.
(a) Rs. 680
(b) Rs. 780
(c) Rs. 700
(d) Rs. 580
(e) None of these

Q11. Rs. 7930 is so divided into three parts such that their amounts after 2, 3 and 4 years respectively are equal, the simple interest being at the rate of 5% per annum. Find the difference between the greatest and the smallest parts of the sum.
(a) Rs. 250
(b) Rs. 230
(c) Rs. 280
(d) Rs. 330
(e) None of these

Q12. The amount of a certain sum with simple interest for 20 years is Rs. 586.40 and with simple interest for 10 years more is Rs. 696.35. Find the rate per cent per annum at which interest is reckoned.
(a) 3%
(b) 4%
(c) 5%
(d) 8%
(e) None of these

Q13. Rakesh borrows Rs. 3500 from a bank at SI. After three years he paid Rs. 1500 to the bank and at the end of 5 years from the date of borrowing he paid Rs. 2725 to the bank to settle the account. Find the rate of interest.
(a) 10%
(b) 5%
(c) 2.5%
(d) 4%
(e) None of these

Q14. Out of a certain sum, 1/3rd is invested at 3%, 1/6th at 6% and the rest at 8%. If the simple interest for 2 years from all these investments amounts to Rs. 600, find the original sum.
(a) Rs. 5000
(b) Rs. 6000
(c) Rs. 5200
(d) Rs. 5500
(e) None of these

Q15. On Rs. 3000 invested at a simple interest at rate of 6 per cent per annum, Rs. 900 is obtained as interest in certain years. In order to earn Rs. 1600 as interest on Rs. 4000 in the same number of years, what should be the rate of simple interest ?
(a) 7%
(b) 8%
(c) 9%
(d) Data inadequate
(e) None of these

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