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Aptitude - Simple Interest Online Quiz
Following quiz provides Multiple Choice Questions (MCQs) related to Simple Interest. You will have to read all the given answers and click over the correct answer. If you are not sure about the answer then you can check the answer using Show Answer button. You can use Next Quiz button to check new set of questions in the quiz.
Q 1 - A man stored Rs 400 for a long time, Rs 550 for 4 year and Rs 1200 for 6 years. He got Rs 1020 as the aggregate simple interest. The rate of interest per annum is:
Answer : B
Explanation
Let the rate of interest be R% p.a. then, (400*R*2)/100 + (550*R*4)/100 + (1200*R*6)/100 = 1020 => 800R+2200R+7200R= 102000 => 10200R = 102000 => R = 10. Hence, the rate of interest is 10%.
Q 2 - On the off chance that the basic simple interest on a certain total of cash for 15 months at 15/2 % p.a. surpasses the basic simple interest on the same aggregate for 8 months at 25/2 p.a. by Rs 32.50. The entirety is:
Answer : C
Explanation
Let the sum be rs. x. Then, (x* 15/2 *1/100*15/12)- (x*25/2*1/100*8/12) = 65/2 => 3x/32 ?x/12 = 65/2 => 9x-8x=3120 =>x= 3120 ∴ Sum = 3120
Q 3 - In the event that the yearly rate of simple interest increments from 10% to 25/2 %, a man yearly pay increments by Rs 1250. The primary is:
Answer : C
Explanation
Let the principle be rs. x. Then, (x* 25/2*1/100*1)- (x*10/100*1) = 1250 => x/8 ?x/10 = 1250 => 5x- 4x= 50000 X= 50000. Hence, the principle is Rs. 50000.
Q 4 - An acquires Rs 8000 at 12% p.a simple interest and B gets Rs 9100 at 10%p.a. simple interest . In how long will their measures of obligations be equivalent?
Answer : C
Explanation
Let the required time be x years. Then, 8000+8000*12/100*x= 9100+9100*10/100*x => 50x =1100 => x= 22 years
Q 5 - Find the interest on Rs 5000 at 10% for 5 years.
Answer : A
Explanation
Here, P = Rs 5000, R = 10% and T = 5 years. I = (5000*10*5)/100 = 2500
Q 6 - If the simple interest for 6 years be equal to 30% of the principal, it will be equal to the principal after
Answer : A
Explanation
Let's assume, principal = P and rate of interest = R% According to question, 30P/100 = P*R*6/100 or,R = 5% Now, let interest be equal to principal in T years. Hence, I = PTR/100 Or, P = PT*5/100 Or, R = 20 years
Q 7 - A sum of money amounts to RS. 9800 after 5 years and to 12005 after a further period of 8 years at the same rate of simple interest. The rate of interest per annum is?
Answer : A
Explanation
S.I. for 3 year = Rs. (12005 - 9800) = 2205 S.I. for 5 years = Rs. (2205 x 5⁄3) = 3675 Therefore Principal = (9800 - 3675) = 6125 Hence, Rate = (100 x 3675⁄6125 x 5) = 12%
Q 8 - David invested certain amount in three different schemes P,Q, and R with the rate of interest 10% p.a., 12% p.a., and 15% p.a. respectively. If the total interest accrued in one year was Rs. 3200 and the amount invested in scheme R was 150% of the amount invested in scheme P and 240% of the amount invested in scheme Q, what was the amount invested in scheme Q?
Answer : C
Explanation
Let a, b ,c be the amounts invested in schemes P, Q, R respectively. Then, a x 10 x 1⁄100 + b x 12 x 1⁄100 + c x 15 x 1⁄100 = 3200 10a + 12b + 15c = 320000.....(i) c = 240% of b = 12b⁄5 ...(ii) and c = 150% of a = 3a⁄2 a = 2c⁄3 = (2⁄3 x 12⁄5)b = 8b⁄5 .....(iii) from (i), (ii), (iii), we have. 16b + 12b + 36b = 320000 64b = 320000 b = 5000 Sum invested in Scheme Q = Rs. 5000.
Q 9 - Find S.I on Rs. 7300 at 12% p.a. for the period from fifth Jan. 2007 to 18 April 2007.
Answer : B
Explanation
Note: The day on which the cash is kept is not tallied and the day on which the cash is pulled back, is numbered. Here P = Rs. 7300, R= 12% P.a. T = 26 Jan+ Feb. 28+ 31 March +18 April = 103days. = 103/365 days. S.I = (p*R*T)/100 = (7300*12*103/365*1/100) = 1236/5 =Rs. 247.20