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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 puts cash in three unique plans for a long time, 10 years and 12years at 10%, 12% and 15% simple premium, separately. At the completion of every plan he gets the same interest. The proportion of his speculations is:
Answer : D
Explanation
Let the required ratio be x: 1: y. Then, S.I on Rs. x for 6 years at 10 % p.a. = S.I on Re 1 for 10 years at 12%p.a. X*10/100*6 = 1*12/100*10 => x= 120/60= 2 S.I. on Rs.1 for 10 years at 12% p.a. = S.I. on Rs. y for 12 years at 15% p.a. ∴ (1*12/100*10) = (y* 15/100*12) => y = 120/180= 2/3 Required ratio = 2:1:2/3 = 6:3:2
Q 2 - In how long an entirety will be thrice of it at the rate of 10% for each annum?
Answer : B
Explanation
Let the sum be Rs.x. then, S.I = Rs. (3x-x) = Rs. 2x x*10/100 *t = 2x => t= 20 years.
Q 3 - On a sure aggregate, the basic simple interest toward the end of 25/2 years gets to be 3/4 of the whole. What is the rate percent per annum?
Answer : C
Explanation
Let the sum be Rs. x. Then, S.I = Rs. 3x/4, time = 25/2 years. ∴ Rate = (100*3x/4 *1/x*2/25) % P.a. = 6%
Q 4 - A commission operators permits a refund of 2% to a financial specialist while the organization pays on interest of 15% on the speculation. What rate of premium does the financial specialist really acquire on his venture?
Answer : D
Explanation
Instead of Rs.100, the investor invests = Rs. (100-2) = Rs. 98 Instead of Rs. 98 = Rs. 15 Interest on Rs. 100= Rs. (15/98*100) = Rs. 750/49
Q 5 - Minimal number of year in which the simple interest on Rs.2600 at 20? 3% simple interest will be correct number of Rs. is:
Answer : B
Explanation
S.I = (2600*20/3*1/100*n), where n is the number of years. = (520/3*n), n being a whole number with minimum value= 3
Q 6 - A person invests a certain sum at a certain rate of simple interest for 5 years. Had he invested it at 2% higher, he would have earned Rs 250 more. Find the sum he invested.
Answer : A
Explanation
Rs 250 is the additional interest in 5 years that he would have earned if he had invested it at 2% higher rate of interest. Hence we can consider, I = Rs 250, R = 2% and t = 5 years. P = I*100/Rt = (250*100)/2*5 = Rs 2500
Q 7 - In how much time would the simple interest on a certain sum be 0.125 times the principal at 10% per annum?
Answer : C
Explanation
Let sum be z. Then, S.I. = 0.125z = 1z⁄8 Rate = 10 Time = (100 x z⁄z x 8 x 10) = 5⁄4 years = 11⁄4
Q 8 - An amount of Rs. 1,00,000 is invested in two types of shares. The first yields an interest of 9% p.a. and the second, 11% p.a. If the total interest at the end of one year is 93⁄4, then the amount invested in each share was?
Answer : A
Explanation
Let the sum invested at 9% be Rs. z and that invested at 11% be Rs. ( 100000 - z ). Then, z x 9 x 1⁄100 + (100000 - z) x 11 x 1⁄100 = 100000 x 39⁄4 x 1⁄100 = 9z + 1100000 - 11z⁄100
39000⁄4 = 9750 2z = (1100000 - 975000) = 125000 x = 62500 sum invested at 9% = Rs. 62500 sum invested at 11% = Rs. (100000 - 62500) = 37500
Q 9 - Divide Rs. 2379 into 3 parts so that their amounts after 2,3 and 4 years respectively may be equal, the rate of interest being 5% per annum at simple interest. The first part is?
Answer : A
Explanation
Let the parts be a,b and [2379 - (a + b)] a + (a x 25⁄100) = b + (b x 35⁄100) = c + (c x 45⁄100) = 11a⁄10 = 23b⁄20 = 6c⁄5 = k a = 10k⁄11
b = 20k⁄23
c = 5k⁄6 But, a + b + c = 2379 10k⁄11 + 20k⁄23 + 5k⁄6 = 2379 1380k + 1320k + 1265k = 2379 x 11 x 23 x 6 k = 2379 x 11 x 23 x 6⁄3965 = 3 x 11 x 23 x 6⁄5 a = 828