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 - 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 - x, y, z are three entireties of cash such that y is the simple interest on x and z is the basic on y for the same time and rate. Which of the accompanying is right?

A - xyz=1

B - z2=xy

C - x2 =yz

D - y2= zx

Answer : D

Explanation

y= S.I. On Rs. x = Rs. (x*R*T/100); z=S.I on Rs.  y = Rs. (y*r*t/100)
∴ y/z = x/y => y2= zx.

Q 4 - A man loses Rs 55.50 yearly when the yearly rate of interest tumbles from 11.5% to 10%. His capital is:

A - Rs 3700

B - Rs 7400

C - Rs 8325

D - Rs 11100

Answer : A

Explanation

Let the capital be Rs. x. then,
(x*23/2*1/100*1) ?(x*10*1/100*1) = 55.50
=> 23x/200 ?x/10 =111/2 => 23x-20x =11100 => 3x= 11100 => x = 3700
Hence, the capital is Rs. 3700.

Q 5 - A sum of money doubles itself in 20 years. What is the rate of interest?

A - 10%

B - 5%

C - 15%

D - Cannot be determined

Answer : B

Explanation

Here, I = P. Given T = 20 years. R = ?

We know,
I = PTR/100
Or, R = I*100/PT
= P*100/P*20
= 5%

Q 6 - Vishwas borrowed a total amount of Rs 30,000 part of it at 12 % per annum and remaining at 10% per annum. If at the end of two years he paid in all Rs 36,480 to settle the loan amount, what was the amount borrowed at 12 % per annum?

A - Rs 16000

B - Rs 18000

C - Rs 17500

D - Rs 12000

Answer : D

Explanation

Let the sum borrowed at 12% per annum be Rs x.
So, sum borrowed at 10% per annum = Rs (30000 - x)
Simple Interest = Rs 36480 ? Rs 30000 = Rs 6480

According to the question,
x*2*12/100 + (30000 - x)*2*10/100 = 6480
or, 24x + 600000 - 20x = 648000
or, 4x = 48000
or, x = 12000

Q 7 - Simple interest on a certain amounts is 916 of the principal. If the numbers representing the rate of interest in percent and time in years be equal, then time, for which the principal is lent out, is?

A - 7%

B - 512%

C - 712%

D - 812%

Answer : C

Explanation

Let sum be z. Then,S.I = 9z16
Let rate = R% and Time = R years
therefore z x R x R100 R2
90016
R = 304 = 712 years.

Q 8 - If the annual ROI increases from 10% to 1212%, a man's yearly income increases by Rs. 1250. his principal (in Rs) is?

A - 45000

B - 50000

C - 60000

D - 65000

Answer : B

Explanation

Let the sum be z. Then,
(z x 252 x 1100) - (z x 10 x 1100) = 1250
= 25z - 20z = 250000 
= 5z = 250000 z = 50000

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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