Simple Interest Questions for SBI PO form an important part of arithmetic preparation. Questions may ask candidates to calculate principal, rate, time, interest or total amount.
A clear understanding of the basic formula helps candidates solve direct questions quickly. However, SBI PO may also test simple interest through comparison, instalment and word-based problems.
Simple Interest Questions for SBI PO: Practice Free Live Quiz
Attempting SBI PO simple interest questions through quizzes helps candidates assess their preparation, improve calculation speed, and identify weak areas. Our SBI PO Simple Interest Quiz includes exam-level questions aligned with the latest SBI PO exam pattern.
Q1. Find the simple interest on ₹8,000 at 7% per annum for 3 years.
SI = (Principal × Rate × Time) ÷ 100
SI = (₹8,000 × 7 × 3) ÷ 100
SI = ₹1,680
Answer: ₹1,680
Q2. A sum earns ₹2,400 as simple interest at 8% per annum in 5 years. Find the principal.
Principal = (SI × 100) ÷ (Rate × Time)
P = (₹2,400 × 100) ÷ (8 × 5)
P = ₹2,40,000 ÷ 40
P = ₹6,000
Answer: ₹6,000
Q3. At what rate per annum will ₹12,000 earn ₹2,880 as simple interest in 4 years?
Rate = (SI × 100) ÷ (Principal × Time)
R = (₹2,880 × 100) ÷ (₹12,000 × 4)
R = 2,88,000 ÷ 48,000
R = 6%
Answer: 6% per annum
Q4. A sum becomes ₹15,400 in 3 years at 10% simple interest per annum. Find the principal.
Simple interest for 3 years at 10% per annum = 30% of the principal.
Amount = Principal + 30% of Principal
Amount = 130% of Principal
Principal = (₹15,400 × 100) ÷ 130
Principal = ₹11,846.15
Answer: Approximately ₹11,846
Q5. The simple interest on a sum for 4 years at 9% per annum is ₹3,600. What will be the interest at 12% per annum for the same period?
For the same principal and time, simple interest is directly proportional to the rate.
Required interest = ₹3,600 × 12 ÷ 9
Required interest = ₹4,800
Answer: ₹4,800
Quiz Summary
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Improve your Quantitative Aptitude preparation by solving more exam-level simple interest questions.
Solve More QuestionsWhat Is Simple Interest?
Simple Interest is calculated only on the original principal for the complete investment or borrowing period.
Simple Interest Formula
SI = P × R × T ÷ 100
Where:
- P = Principal
- R = Annual rate of interest
- T = Time in years
Amount Formula
Amount = Principal + Simple Interest
Simple Interest Shortcut Rules
- Interest for one year = Principal × Rate ÷ 100
- If the rate increases by x%, additional interest = P × x × T ÷ 100
- At simple interest, annual interest remains constant.
- Interest is directly proportional to principal, rate and time.
Common Mistakes
- Using months directly instead of converting them into years
- Confusing amount with interest
- Applying compound interest formulas
- Ignoring the phrase “per annum”
- Incorrectly cancelling values in the formula
Preparation Tips
- Memorise the SI and amount formulas.
- Practise reverse questions involving principal and rate.
- Learn percentage-to-fraction conversions.
- Solve questions using both formula and ratio methods.
- Attempt arithmetic sectional tests regularly.
Simple Interest Questions FAQs
What is the formula for Simple Interest?
SI = P × R × T ÷ 100.
How should months be used in the formula?
Convert months into years. For example, six months equals 6/12 or 0.5 year.
Is Simple Interest important for SBI PO?
Yes. It is an important arithmetic concept and may also appear in Data Interpretation and caselet questions.
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