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:

A - 8%

B - 10%

C - 15%

D - 20%

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:

A - Rs 312

B - Rs 312.50

C - Rs 3120

D - Rs 3120.50

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:

A - Rs 45000

B - Rs 3200

C - Rs 50000

D - Rs 65000

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 - What yearly installment will release an obligation of Rs 580 due in 5 years at 8% p.a.?

A - Rs 166.40

B - Rs 65.60

C - Rs 100

D - Rs 120

Explanation

Let the required annual installment be Rs. x. then,
(Amount of Rs. x for 4 year) + (amount of Rs. x for 3 year) + (amount of Rs.x for 2 year) + (amount of Rs.x for 1 year) + Rs. x = 580
=> (x+ x*8*4/100) +(x+ x*8*3/100) + (x+ x*8*2/100) + (x+ x*8*1/100) +x= 580
=> (x+ 8 x/25) +(x+ 6 x/25) + (x+ 4 x/25) + (x+ 2 x/25) +x = 580
=>   33x/25 + 31x/25 + 29x/25+ 27x/25+x = 580
=> (33x+31x+29x+27X+25x) = 14500 =>145x = 14500 => x= 100.
Required installment = Rs. 100.

Q 5 - Find the interest on Rs 5000 at 10% for 5 years.

A - 2500

B - 2000

C - 250

D - Cannot be determined

Explanation

Here, P = Rs 5000, R = 10% and T = 5 years.
I = (5000*10*5)/100
= 2500

Q 6 - Rs 24000 is lent out in three parts. The first part is lent out at 4% per annum for 5 years, the second at 5% for 3 years and the third at 3% for 4 years. The total interest earned on each part is equal. Find the sum in each part.

A - 6K, 8K and 10K

B - 3K, 4K and 5K

C - 8K, 4K and 12K

D - None of these

Explanation

P1 : P2 : P3 = 1/r1t1 : 1/r2t2 : 1/r3t3 = 1/(4*5) : 1/(5*3) : 1/(3*4)
P1 : P2 : P3 = 3 : 4 : 5

Hence P1 = 24000*3/3 + 4 + 5 = Rs 6000
P2 = 24000*4/3 + 4 + 5 = Rs 8000
P3 = 24000*5/3 + 4 + 5 = Rs 10000

Q 7 - A sum of money becomes 76 of itself in 3 years at a certain rate of simple interest. The rate per annum is?

A - 12%

B - 559%

C - 18%

D - 659%

Explanation

Let sum be z. Then, Amount = 7z6
S.I. = (7z6 - 6) = z6 years = 3 years.
therefore Rate = 100 x zz x 6 x 3
= 509 = 559

Q 8 - A money lender finds that due to fall in the annual rate of interest from 8% to 734%, his yearly income diminishes by Rs. 61.50. His capital is?

A - 24600

B - 20000

C - 26000

D - 25000

Explanation

Let the capital be Rs z then, z x 8 x 1100 - z x 31 x41100 = 61.50
32z - 31z = 6150 x 4
z = 24600

Q 9 - At what rate percent per annum will a whole of cash twofold in 8 years?

A - 12% p.a.

B - 13% p.a.

C - 14% p.a.

D - 15% p.a.