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 - Basic simple interest on Rs 500 for a long time at 6.25% for each annum is equivalent to the simple enthusiasm on Rs 400 at 5% for every annum for a certain timeframe. The timeframe is:

A - 4 years

B - 5 years

C - 25/4 years

D - 26/3 years

Answer : C

Explanation

Let the Required period of time be x years. Then,
500*4*625/100 = 20*x=> x= 6.25 =625/100= 25/4 years.

Q 2 - In how long an entirety will be thrice of it at the rate of 10% for each annum?

A - 15 years

B - 20 years

C - 30 years

D - 40 years

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 - The distinction between the basic interests got from two unique sources on Rs 1500 for a long time is Rs 13.50. The contrast between their rates of interest is:

A - 0.1%

B - 0.2%

C - 0.3%

D - 0.4%

Answer : C

Explanation

Let the rates of interest be x% p.a. Then,
(1500*x/100*3) ? (1500*y/100*3) =27/2
45(x-y) =27/2 => (x-y) = (27/2* 1/45)=3/10=0.3
Required difference = 0.3%

Q 4 - An aggregate of Rs 10000 is loaned mostly at 8% and the staying at 10% p.a. On the off chance that the year?s interest on the normal is 9.2% the cash loaned at 10% is:

A - Rs 6000

B - Rs 5500

C - Rs 5000

D - Rs 4500

Answer : A

Explanation

Ratio of investments = 0.8: 1.2: = 2:3
Money at 10% = Rs. (10000*3/5) = Rs. 6000>

Q 5 - With a given of rate of basic interest, the proportion of standard and measure of a sure timeframe is 4:5 , following 3 years , with the same rate of interest , the proportion of the rule and sum gets to be 5:7 , the rate of interest per annum is :

A - 4%

B - 5%

C - 6%

D - 7%

Answer : B

Explanation

After t years, let P =Rs. 4x and amount = Rs. 5x.
P + S.I for t years = Rs. 5x
P: {p+S.I for (t+3) years} = 5:7= 1: 7/5 = 4x: (7/5*4x) = 4x: 28x/5
∴ P+S.I.  For (t+3) years = Rs. 28x/5
On subtracting (i) from (ii), we get:
S.I for 3 years = Rs. (28x/5 -5x) = Rs. 3x/5
S.I on Rs. 4x for 3 years = 3x/5
∴ Rate = {(100*3x/5)/ (4x*3)} % p.a. = 5% p.a.

Q 6 - What would be the simple interest obtained on an amount of Rs 6535 at the rate of 10% after 6 years?

A - Rs 3414

B - Rs 3921

C - Rs 3807

D - Rs 3149

Answer : B

Explanation

Simple Interest = PTR/100
= 6535 * 6 * 10/100
= Rs 3921

Q 7 - The simple interest on a sum of money is 4/9 of the principal and the number of years is equal to the rate percent per annum. The rate per annum is

A - 5%

B - 20/3%

C - 6%

D - 7%

Answer : B

Explanation

We know, I = PTR/100

According to question,

I = 4P/9  and r = t

4P/9 = P*r*r/100
Or, r2 = 400/9
Or, r = 20/3

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?

A - 7000

B - 4000

C - 5000

D - 5500

Answer : C

Explanation

Let a, b ,c be the amounts invested in schemes P, Q, R respectively. Then,
a x 10 x 1100 + b x 12 x 1100 + c x 15 x 1100 = 3200
10a + 12b + 15c = 320000.....(i)
 c = 240% of b = 12b5 ...(ii)
and c = 150% of a = 3a2
a = 2c3 
 = (23 x 125)b 
= 8b5 .....(iii)
from (i), (ii), (iii), we have. 
 16b + 12b + 36b = 320000 
 64b = 320000 
 b = 5000
Sum invested in Scheme Q = Rs. 5000.

Q 9 - A sure entirety of cash adds up to rs. 756 in 2 years and to Rs. 873 in 7/2 years. Discover the aggregate and the rate of hobby.

A - Rs. 600,13% P.a

B - Rs. 600,12% P.a

C - Rs. 500,13% P.a

D - Rs. 500,12% P.a

Answer : A

Explanation

Sum in 7/2 years = Rs. 873, sum in 2 years= Rs. 756
S.I for 3/2 year = Rs. (873-756) = Rs. 117
S.I for a long time = Rs. (117*2/3*2) = rs. 156.
Standard = (sum in 2 year) - (s.I for 2 year) = Rs. (756-156)= Rs. 600
Presently P = 600 Rs. T= 2 years. What's more, S.I = 156 Rs.
∴ R = (100*S.I)/P*T = (100*156)/ (600*2) = 13% P.a.
Henceforth, aggregate = Rs. 600 and Rate = 13% P.a.


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