As we all say “time is money”. We all agree to it equally as well. Time in a teacher’s life and in student’s life is no less important too. Teachers are found spending their worthy hours in mere the generation of class tests and assessments. Likewise, many self-learning students are found looking for ways to assess themselves. We looked upon this problem and came up with an intriguing statement that “Teachers and self-learners need an aid in assessment tests generation”. After undergoing quite a research in the domain and visiting different teaching institutes and interviewing a few privately learning students, we gathered a number of constructing bricks for our project. This research brought us to build E-Learning and Earning Online (ELEO). ELEO uses NLP, a subfield of Artificial Intelligence, to generate Multiple Choice Questions automatically from provided source. This source can either be a specified keyword against which the user wishes to generate a question paper or simply a (PDF) that the user can upload over the system. In the case of a Keyword, System scraps all the text from Wikipedia and convert it into multiple choice questions. And here ELEO comes with a methodology to summarize raw text from Wikipedia and also parse the text from provided content to generate Multiple Choice Questions (MCQS). The System finds all the Named Entities and POS (Parts of speech tags) in the content to create relevant questions. ELEO provides the user with a runtime generated Multiple Choice Questions test along with a feasibility to download the test in a Word format. This way the users can export the generated test for further use and if required, can also edit the test to customize it accordingly. Through ELEO teachers will save hours of their daily time and will be able to focus more on students and their learning. While self-learning students will be able to assess themselves thoroughly and completely for grades up to the mark.