SBI PO - Simple Interest, Compound Interest Online Test (MCQ Quiz)

1. What is the formula for calculating Simple Interest (SI)?

A) SI = (P * R * T) / 100 B) SI = P * (1 + R/100)^T C) SI = A - P D) SI = P * R * T

2. In the formula for Simple Interest, SI = (P * R * T) / 100, what does 'P' represent?

A) Rate of Interest B) Time Period C) Principal Amount D) Simple Interest

3. If a sum of money is invested at a certain rate of simple interest, the interest earned each year is:

A) Increasing B) Decreasing C) Constant D) Fluctuating

4. What is the formula for calculating the Amount (A) in Simple Interest?

A) A = P * R * T B) A = SI / (P * R * T) C) A = P + SI D) A = P - SI

5. If the Principal (P) is Rs. 5000, the Rate (R) is 5% per annum, and the Time (T) is 2 years, what is the Simple Interest (SI)?

A) Rs. 500 B) Rs. 1000 C) Rs. 250 D) Rs. 5000

6. Calculate the Amount (A) if P = Rs. 10000, R = 10% p.a., and T = 3 years (Simple Interest).

A) Rs. 13000 B) Rs. 10000 C) Rs. 3000 D) Rs. 11000

7. In compound interest, interest is calculated on:

A) Only the principal amount B) The principal amount and the accumulated interest of previous periods C) A fixed portion of the principal D) The total amount at the end of the term

8. What is the formula for calculating the Amount (A) in Compound Interest, compounded annually?

A) A = P * (1 + R/100)^T B) A = P * (1 - R/100)^T C) A = P + (P * R * T / 100) D) A = P / (1 + R/100)^T

9. What does 'R' represent in the compound interest formula A = P * (1 + R/100)^T?

A) Time Period B) Principal Amount C) Rate of Interest per annum D) Total Amount

10. If P = Rs. 8000, R = 5% p.a., and T = 2 years, calculate the Compound Interest (CI) compounded annually.

A) Rs. 800 B) Rs. 820 C) Rs. 1600 D) Rs. 1640

11. What is the formula for calculating Compound Interest (CI)?

A) CI = P * R * T / 100 B) CI = A - P C) CI = P * (1 + R/100)^T D) CI = P + A

12. When interest is compounded half-yearly, the rate of interest is:

A) Doubled B) Halved C) Remains the same D) Tripled

13. If interest is compounded half-yearly for a period of T years at a rate R% per annum, how many compounding periods are there?

A) T B) 2T C) T/2 D) 4T

14. If P = Rs. 20000, R = 10% p.a., and T = 1 year, compounded half-yearly, what is the Amount (A)?

A) Rs. 22000 B) Rs. 21000 C) Rs. 20100 D) Rs. 23000

15. When interest is compounded quarterly, the rate of interest per quarter is:

A) R/4 B) R/2 C) 4R D) R

16. If P = Rs. 10000, R = 8% p.a., and T = 1 year, compounded quarterly, what is the Compound Interest (CI)?

A) Rs. 800 B) Rs. 824 C) Rs. 810 D) Rs. 832

17. What is the difference between Compound Interest (CI) and Simple Interest (SI) for 2 years?

A) CI - SI = P * (R/100)^2 B) CI - SI = P * R * T / 100 C) CI - SI = P * (R/100) D) CI - SI = 0

18. If the difference between CI and SI for 2 years on a sum of money at R% p.a. is Rs. X, what is the formula for the Principal (P)?

A) P = X * (100/R)^2 B) P = X * (R/100)^2 C) P = X * (100/R) D) P = X / (100/R)^2

19. What is the difference between CI and SI for 3 years on a sum of money at R% p.a.?

A) P * (R/100)^2 * (3 + R/100) B) P * (R/100)^3 C) P * (R/100)^2 D) P * R * T / 100

20. If a sum doubles itself in 10 years at Simple Interest, in how many years will it triple itself?

A) 15 years B) 20 years C) 25 years D) 30 years

21. A sum of money becomes Rs. 15000 in 5 years and Rs. 17500 in 10 years at Simple Interest. What is the Principal?

A) Rs. 12500 B) Rs. 10000 C) Rs. 11000 D) Rs. 13000

22. In what time will Rs. 1000 amount to Rs. 1331 at 10% per annum compounded annually?

A) 1 year B) 2 years C) 3 years D) 4 years

23. If the Simple Interest on a sum for 2 years is Rs. 200 and the Compound Interest for the same period is Rs. 210, what is the rate of interest?

A) 5% B) 10% C) 15% D) 20%

24. A sum of money at compound interest doubles itself in 5 years. In how many years will it become 8 times itself?

A) 10 years B) 15 years C) 20 years D) 25 years

25. The difference between the compound interest and simple interest on Rs. 10000 for 2 years at 5% per annum is:

A) Rs. 25 B) Rs. 50 C) Rs. 100 D) Rs. 250

26. If a sum of money becomes double in 7 years at compound interest, in how many years will it become 4 times?

A) 7 years B) 14 years C) 21 years D) 28 years

27. What is the annual rate of simple interest at which Rs. 5000 will become Rs. 6000 in 4 years?

A) 4% B) 5% C) 6% D) 7%

28. A sum of money lent out at simple interest amounts to Rs. 720 in 2 years and to Rs. 1020 in a further period of 5 years. The sum is:

A) Rs. 600 B) Rs. 500 C) Rs. 700 D) Rs. 650

29. If Rs. 1200 is invested at 10% per annum compound interest, the interest for the third year is:

A) Rs. 120 B) Rs. 132 C) Rs. 145.20 D) Rs. 157.30

30. A sum of money triples itself in 8 years at simple interest. In how many years will it become 7 times itself?

A) 16 years B) 20 years C) 24 years D) 28 years

31. The population of a town increases by 10% annually. If its present population is 24200, what was its population 2 years ago?

A) 20000 B) 21000 C) 22000 D) 23000

32. In how many years will a sum of Rs. 3000 become Rs. 3300 at 5% simple interest per annum?

A) 1 year B) 1.5 years C) 2 years D) 2.5 years

33. What is the compound interest on Rs. 5000 for 2 years at 4% per annum, the interest being compounded semi-annually?

A) Rs. 400 B) Rs. 408 C) Rs. 410 D) Rs. 416

34. A sum of money placed at compound interest doubles itself in 5 years. It will be 8 times itself in:

A) 10 years B) 15 years C) 20 years D) 25 years

35. The simple interest on a certain sum for 3 years at a certain rate is Rs. 225. The compound interest on the same sum for 2 years at the same rate is Rs. 150. Find the rate of interest.

A) 5% B) 10% C) 12.5% D) 15%

36. If Rs. 8000 amounts to Rs. 10000 in 3 years at simple interest, what is the amount after 6 years?

A) Rs. 12000 B) Rs. 12500 C) Rs. 13000 D) Rs. 14000

37. What is the difference between the CI and SI on Rs. 2500 for 2 years at 4% per annum?

A) Rs. 10 B) Rs. 20 C) Rs. 40 D) Rs. 100

38. A sum of money doubles in 4 years at simple interest. In how many years will it become 5 times?

A) 12 years B) 14 years C) 16 years D) 18 years

39. If the SI on a sum of money is Rs. 300 for 2 years, and the CI on the same sum for 2 years is Rs. 315, find the principal.

A) Rs. 3000 B) Rs. 3500 C) Rs. 3750 D) Rs. 4000

40. A sum of money becomes Rs. 1320 in 2 years and Rs. 1440 in 3 years at simple interest. The rate of interest is:

A) 5% B) 6% C) 7.5% D) 10%

41. What is the difference between the compound interest and simple interest on Rs. 5000 for 3 years at 10% per annum?

A) Rs. 1550 B) Rs. 155 C) Rs. 550 D) Rs. 55

42. A sum of money becomes double in 10 years at compound interest. What is the rate of interest?

A) 5% B) 7.18% C) 10% D) 12.5%

43. If the SI on a sum is Rs. 2500 for 5 years, what is the CI on the same sum for 2 years at the same rate?

A) Rs. 1000 B) Rs. 1020 C) Rs. 2000 D) Rs. 2020

44. A sum of money lent at simple interest amounts to Rs. 756 in 2 years and Rs. 1080 in 5 years. The rate of interest per annum is:

A) 10% B) 15% C) 20% D) 25%

45. What is the difference between the compound interest and simple interest on Rs. 1000 for 3 years at 5% per annum?

A) Rs. 75.625 B) Rs. 76.25 C) Rs. 150 D) Rs. 155

46. A sum of money doubles itself in 10 years at simple interest. In how many years will it become 4 times itself?

A) 15 years B) 20 years C) 25 years D) 30 years

47. If Rs. 64000 is invested at 5% per annum compound interest, the interest for the first year is Rs. 3200. What is the interest for the second year?

A) Rs. 3200 B) Rs. 3360 C) Rs. 3500 D) Rs. 3600

48. A sum of money at compound interest becomes three times in 3 years. In 9 years it will be how many times itself?

A) 9 times B) 12 times C) 27 times D) 81 times

49. The difference between the compound interest and simple interest on Rs. 5000 for 2 years is Rs. 50. The rate of interest is:

A) 5% B) 10% C) 15% D) 20%

50. If the simple interest on a sum for 2 years is Rs. 1000 and the compound interest on the same sum for 2 years is Rs. 1050, find the principal.

A) Rs. 10000 B) Rs. 12500 C) Rs. 15000 D) Rs. 20000

Simple Interest, Compound Interest - Online Test

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