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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 - At what rate of simple interest a certain aggregate will be multiplied in 15 years?

Answer : C

Explanation

Let the sum be rs. x. then, S.I = Rs.x.
Rate = (100*S.I / sum*time) = (100*x/x*15) % p.a = 20/3% p.a.

Q 3 - In what amount of time would the simple interest on a sure total be 0.125 times the vital at 10% for each annum?

Answer : A

Explanation

Let the time be x years.
Let the sum be rs. P. Then, S.I = (0.125) P and R =10% p.a.
Time = (100*S.I/P*R) = {100*(0.125) P/ P*10} = 1.25 years.

Q 4 - An aggregate of Rs 5000 was loaned mostly at 6% and incompletely at 9% basic interest. On the off chance that the aggregate yearly premium be Rs 390, the proportion in which the cash was loaned at given rates is:

Answer : C

Explanation

Let the money invested at the two rates be rs. x and Rs. (5000-x)
Then, (x*6/100*1) + (5000-x) *9/100*1 = 390
=> 3x/50 + 9(5000-x)/100 = 390
=> 6x+45000-9x = 39000 => 3x= 6000 => x= 2000.
Required ratio = 2000:3000= 2:3

Q 5 - A man disperses Rs. 25300 among his three children A, B, C. In a manner that the measure of there at 10% simple interest for a long time, 3 years and 4 years will be equivalent an offer is:

Answer : C

Explanation

Let the parts of A, B, C be x, Y, z respectively. Then
(x+ x*2*10/100)= (Y+ y*3*10/100) = (z+ z*4*10/100)
=> 6x/5 =13y/10 = 7z/5 =ℏ = 5ℏ/6, y = 10ℏ/13, z= 5ℏ/7
=> x: y: z = 5ℏ /6:10ℏ/13   :5ℏ/7 = 1/6:2/13: 1/7 = 91: 84:  78
A's part = Rs. (25300*91/253) = Rs. 9100.

Q 6 - Anil invested an amount for three years at a rate of 9 % per annum. He got an amount of Rs 19,050 at maturity. What principal amount did he invest?

Answer : C

Explanation

Here A = Rs 19,050
R = 9%
T = 3 years

A = P(1 + TR/100)
or, 19050 = P (1 + 3*9/100)
or, 19050 = P (100 + 27)/100
or, 19050*100 = P*127
or, P = 19050*100/127
or, P = 15000

Q 7 - At what rate percent of simple interest will a sum of money double itself in 12 years?

Answer : B

Explanation

Let sum be z. Then, S.I. = z
Rate = (^{100 x S.I}⁄_{P x T}) = (^{100 x z}⁄_{z x 12})
= ²⁵⁄₃
= 8¹⁄₃

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

Answer : B

Explanation

Let standard be Rs. P. at that point, S.I = Rs. P and time = 8 year
∴ Rate = (100*S.I)/P.T = (100*156/600*2) % p.a. = 13% p.a.

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