Simple Interest

What you'll learn

Understand Simple Interest with an everyday analogy, the core SI formula and all its rearrangements, a fully worked example, exam shortcuts, and a self-check quiz for SSC-CGL.

This chapter has

Simple Interest — solved practice questions

6 SSC / Banking Quantitative Aptitude questions with step-by-step solutions. Attempt each, then reveal the answer.

1. Q1easy

   Find the simple interest on ₹1000 at 5% per annum for 2 years.

   • A₹50
   • B₹100
   • C₹150
   • D₹200
   Show answer & solution

   Correct answer: (B) ₹100

   SI = P × R × T / 100 = 1000 × 5 × 2 / 100 = ₹100.

2. Q2medium

   At what rate per annum will ₹2000 give ₹400 as simple interest in 4 years?

   • A4%
   • B5%
   • C6%
   • D8%
   Show answer & solution

   Correct answer: (B) 5%

   400 = 2000 × R × 4 / 100 = 80R → R = 5%.

3. Q3medium

   In how many years will ₹1500 amount to ₹1800 at 5% per annum simple interest?

   • A3
   • B4
   • C5
   • D6
   Show answer & solution

   Correct answer: (B) 4

   SI = 1800 − 1500 = 300. 300 = 1500 × 5 × T / 100 = 75T → T = 4 years.

4. Q4medium

   The simple interest on a sum for 3 years at 8% per annum is ₹600. Find the sum.

   • A₹2000
   • B₹2200
   • C₹2500
   • D₹3000
   Show answer & solution

   Correct answer: (C) ₹2500

   600 = P × 8 × 3 / 100 = 0.24P → P = 600 / 0.24 = ₹2500.

5. Q5hard

   A sum of money doubles itself in 10 years at simple interest. What is the rate of interest?

   • A8%
   • B10%
   • C12%
   • D15%
   Show answer & solution

   Correct answer: (B) 10%

   Doubling means SI = P over 10 years. P = P × R × 10 / 100 → R = 10%.

6. Q6easy

   What is the amount on ₹800 at 10% per annum simple interest for 3 years?

   • A₹1000
   • B₹1040
   • C₹1080
   • D₹1100
   Show answer & solution

   Correct answer: (B) ₹1040

   SI = 800 × 10 × 3 / 100 = ₹240. Amount = 800 + 240 = ₹1040.

Want the full set? Practise all 6 Simple Interest questions →