# 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 - Rs 2000 adds up to Rs 2600 in 5 years at basic interest. In the event that the loan costs were expanded by 3%, it would add up to what amount?

### Answer : A

### Explanation

Sum = Rs.2000, S.I = Rs. 600, Time = 5years. ∴ Rate = (100*S.I/sum*time) = (100*600/2000*5) = 6% p.a. New, sum = Rs. 2000, Rate = 9% P.a., Time = 5 years. S.I = Rs. (2000*9*5/100) = Rs. 900 Amount = Rs. (2000+900) = Rs. 2900

Q 3 - A farmer acquired Rs 3600 at 15% for every annum. Toward the end of 4 years he cleared his record by paying Rs 4000 and a goat. The expense of the goat is:

### Answer : D

### Explanation

Amount after 4 year = Rs. 3600+Rs. (3600*15/100* 4) = Rs.3600+(3600*15/100*4) = cost of goat = Rs. (5760-4000) = 1760

Q 4 - The distinction between the premiums got from two unique banks on Rs 5000 for a long time is Rs 25. The distinction between their rates is:

### Answer : D

### Explanation

Let the rates be x% p.a. and Y % p.a. Then, (5000*x/100*2)- (5000*y/ 100 *2) =25 => 100(x-y) = 25 => x-y =0.25 Required difference in rates = 0.25% p.a.

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 - At what rate percent per annum will the simple interest on a sum of money be ^{2}⁄_{5} of the amount in 10 years?

### Answer : A

### Explanation

Let sum be z. Then, S.I. = (^{2z}⁄_{5}) Time = 10 Rate = (^{100 x 2z}⁄_{z x 5 x 10}) = 4%

Q 8 - Mr. Thomas invested an amount of Rs. 13,900 divided in two different Schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in scheme B?

### Answer : B

### Explanation

Let the sum be invested in scheme A be Rs. z and that in scheme B be Rs. (13900 - z) Then,^{z x 14 x 2}⁄_{100}+^{(13900 - z) x 11 x 2}⁄_{100}= 3508 28z -22z = 350800 - (13900 x 22) = 6z = 45000 = x = 7500 sum invested in scheme B = Rs (13900 - 7500) = 6400

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