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 had Rs 1600, some portion of which he loaned at 8% for each annum and the rest at 9% for each annum simple interest. On the off chance that the aggregate yearly premium be Rs 1340, the cash loaned at 8% is:

A - Rs 6000

B - Rs 8000

C - Rs 10000

D - Rs 12000

Answer : C

Explanation

Let the money lent at 8% P.a. be Rs. x.
(x*8/100*1) + (16000-x)*9/100*1 = 1340
=> 8x/100 + (144000-9x/100) =1340 => 8x+144000 -9x = 134000
x = 10000
Hence, the money lent at 8% = RS.10000.

Q 2 - The total of cash that will give Re 1 as basic premium for each at the rate of 5% for every annum is:

A - Rs 730

B - Rs 3650

C - Rs 7300

D - Rs 36500

Answer : C

Explanation

Annual interest = Rs. 365, Rate = 5% p.a.
Sum = (100*S.I/R*T) = Rs. (100*365/5*1) = Rs. 7300.

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 - A cash bank finds that because of a fall in the yearly rate of interest from 8% to 31/4% his yearly salary reduces by Rs 61.50. His capital is:

A - Rs 22400

B - Rs 23800

C - Rs 24600

D - Rs 26000

Answer : C

Explanation

Let the capital be RS. x. then
(x*8/100*1) ?(x*31/4*1/100*1) = 123/2
=> 2x/25-31x/400 = 123/2 => 32x-31x = 24600 => x= 24600
Hence, the capital is Rs. 24600.

Q 5 - The simple interest on a whole for a long time is two fifth of the entirety. The rate percent per P.a. is:

A - 10 %

B - 8 %

C - 6 %

D - 25/2 %

Answer : B

Explanation

Let the sum be Rs. x. Then, S.I = Rs.2x/5
Rate = (100*S.I)/ (p*t) = (100*2x/5* 1/x*1/5) % p.a = 8% p.a.

Q 6 - Amit invests a certain sum at 10% per annum simple interest. In how many years will it become 5 times?

A - 15 years

B - 20 years

C - 40 years

D - None of these

Answer : C

Explanation

We know,
R = 100(n - 1)/t
Or, t = 100(n - 1)/R
= 100(5 - 1)/10
= 100*4/10
= 40 years

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%

Answer : B

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 - 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?

A - 6500

B - 6400

C - 6800

D - 645059

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 2100 + (13900 - z) x 11 x 2100 = 3508
28z -22z = 350800 - (13900 x 22) = 6z = 45000 = x = 7500
sum invested in scheme B = Rs (13900 - 7500) = 6400

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.

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.

aptitude_simple_interest.htm
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