Aptitude - Simple Interest Online Quiz


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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.

Questions and Answers

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:

A - 2:3:4

B - 3:4:2

C - 3:4:6

D - 6:3:2

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 - A certain total of cash gets to be three times of itself in20 years at basic premium. In how long does it turns out to be twofold of itself at the same rate?

A - 8 years

B - 10 years

C - 12 years

D - 14 years

Answer : B

Explanation

Let the sum be Rs. x. Then, S.I in 20 years = Rs. (3x-x) = Rs.2x
Rate = (100*S.I/ R*T) = (100*2x/x*20) % P.a. = 10% P.a.
Now, sum = Rs. x, Rate = 10% P.a., S.I = Rs. x.
∴ Time = (100*s.I/ P*R) = (100*x/x*10) years = 10 years.

Q 3 - Simple interest on a sure whole at a sure yearly rate of interest is 25/16 of the entirety. In the event that the number speaking to rate percent and time in years is equivalent, then rate percent per annum is:

A - 8%

B - 23/2%

C - 49/4%

D - 25/2%

Answer : D

Explanation

Let the sum be Rs. x, Rate = R% P.a., time = 25/2 years.
S.I = Rs. 25x/16  R = 100*25x/16 *1/x* 1/R => R2=2500/16 = R= 25/2
Hence, Rate = 25/2%

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:

A - 1:1

B - 1:2

C - 2:3

D - 3:2

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 - Minimal number of year in which the simple interest on Rs.2600 at 20? 3% simple interest will be correct number of Rs. is:

A - 2 years

B - 3 years

C - 4 years

D - 5 years

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.

A - 2500

B - 2000

C - 4000

D - None of these

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 - The rate of simple interest on an amount of money is 6% per annum for the first two years, 9% per annum for the next five years, 13% per annum for the period beyond 7 years. If the total interest on a sum at the end of ten years is Rs 7,680, what is the sum?

A - Rs 7500

B - Rs 8000

C - Rs 8500

D - Rs 10000

Answer : B

Explanation

According to the question,

Rs 7680 = P*6*2/100 + P*9*5/100 + P*13*3/100
Or, 12P + 45P + 39P = Rs 7680*100
Or, P = Rs 768000/96 = Rs 8000

Q 8 - The prices of a T.V set worth Rs. 20000 is to be paid instalments of Rs. 1000 each. If the ROI be 6% per annum, and the first instalment be paid at the time of purchase, then the value of the last instalment covering the interest as well will be?

A - 1050

B - 2050

C - 3000

D - None of these

Answer : D

Explanation

 Money paid in cash = Rs 1000
Balance payment  = Rs (20000 - 1000) = Rs 19000

Q 9 - Find S.I on Rs. 7300 at 12% p.a. for the period from fifth Jan. 2007 to 18 April 2007.

A - Rs. 240

B - Rs. 247.20

C - Rs. 250

D - Rs. 257.20

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


aptitude_simple_interest.htm

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