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Simple Interest and Compound Interest MCQs for Competitive Exams

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Simple Interest and Compound Interest MCQs for Competitive Exams

Practice with answers, explanations, and exam-focused revision notes.

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Topic Notes: Simple Interest and Compound Interest

These notes summarize the key preparation context before you attempt the MCQs. Review the topic focus, then practice the questions below with answers and explanations.

Quick Overview

Simple Interest and Compound Interest MCQs in Mathematics are useful for candidates who need targeted practice for CSS, PMS, FPSC, PPSC, NTS, entry tests, and other competitive exams in Pakistan. This topic page is designed for quick revision, repeated practice, and exam-focused preparation.

Attempt the questions page by page, check the correct answers, read the explanations where available, and compare your weak areas with past papers and mock test performance. Consistent MCQ practice improves speed, confidence, and retention for objective exam sections.

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11
Calculate the principal amount that generates Rs. 60 as simple interest over 5 years at an annual interest rate of 6%.
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12
Calculate the principal amount that generates a simple interest of Rs. 4320 at an annual interest rate of 4 percent over a period of 6 years.
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13
Mohsin invests Rs. 15,000 at a compound interest rate of 5% per annum for 2 years. Calculate the total amount he will receive at the end of this period.
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14
Calculate the time required for a principal amount of Rs. 1200 to generate an interest of Rs. 240 at a simple interest rate of 5% per annum.
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15
Calculate the simple interest on Rs. 500 at a rate of 6% per annum from May 3rd to July 15th of the same year.
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16
At what annual compound interest rate will a principal of Rs. 1,000 grow to Rs. 1,331 over a period of 3 years?
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17
A loan of Rs. 1000 was taken on January 1, 1997, at a simple interest rate of 10% per annum. If the total repayment amount was Rs. 1020, on what date was the loan settled?
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18
A town's population increases by 5% annually. Given the current population is 4,410, what was the population two years ago?
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19
Calculate the compound interest on a principal amount of Rs. 2000 at an annual interest rate of 5% compounded annually for a period of 2 years.
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20
Calculate the annual interest rate required for a principal sum of Rs. 5000 to grow to Rs. 6000 over a period of 4 years.
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