Background: Pharmacology, an ever-expanding volatile subject, requires continuous reinforcement and self-learning. Lectures supplemented with E-learning activity like solving multiple choice questions (MCQs) online may help students to self-learn. Aims and Objectives: The project was designed to develop E-learning models (ELMs) and to evaluate perceptions of the students toward those. Materials and Methods: Three ELMs comprising 40 MCQs each were prepared for three different pharmacology topics and delivered to II MBBS students (n = 180) using web-based facility in three different ways: (1) Presupplemental model: First supervised pretest was conducted followed by online post-test on unexposed topic (i.e., before the lecture), (2) postsupplemental model: Lecture, followed by supervised pretest then followed by online post-test and (3) Replacement model: Supervised pretest on an unexposed topic followed by uploading of presentation on the topic for self-study followed by online post-test. The scores of the supervised test and online post-test were compared and feedback was collected from all students. Results: Out of 40, the average marks ± SD for supervised pretests were 6.5 ± 2.3, 11.2 ± 3.1, and 4.5 ± 1.5, whereas the online post-test scores, viz: 32.6 ± 4.8, 33.3 ± 6.7, and 34.7 ± 3.2 in model 1, 2, and 3, respectively (P < 0.0001). Students felt that E-learning activity improved understanding (57%), motivated self-learning (70%), and played supplementary role (73%). Conclusion: Students perceived that supplementation of lectures with E-learning activity in the form of online tests appeared beneficial and opined that it should be continued.