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 - 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?

A - Rs 2900

B - Rs 3200

C - Rs 3600

D - None of these

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:

A - Rs 1000

B - Rs 1200

C - Rs 1550

D - Rs 1760

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:

A - 1%

B - 2.5%

C - 0.5%

D - 0.25%

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:

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 - At what rate percent per annum will the simple interest on a sum of money be 25 of the amount in 10 years?

A - 4%

B - 523%

C - 6%

D - 623%

Answer : A

Explanation

Let sum be z. Then, S.I. = (2z5) Time = 10
Rate = (100 x 2zz 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?

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 - 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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