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 - A sure whole is contributed on basic interest, if it trebles in 10 years, what is the rate of interest?

A - 18% p.a.

B - 20%p.a.

C - 22% p.a.

D - 25%p.a.

Answer : B

Explanation

Let the sum be Rs. x then, S.I = Rs. (3x-x) = rs. 2x
∴ x*R/100*10= 2x = R = 20% p.a.

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 - 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 - 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 - 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 - A sum of Rs. 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both the loans. What was the original rate of interest?

A - 3.46%

B - 4.5%

C - 5%

D - 6%

Answer : A

Explanation

Let original rate be R%. Then, new rate = (2R)%
therefore 725 x R x 1100 + 362.50 x 2R x 1100 x 3 = 33.50
= (2175 + 725) R = 33.50 x 100 x 3 = 10050
= R = 100502900 = 3.46%

Q 9 - A man acquired Rs 25000from two cash loan specialist. For one advance, he paid 12% p.a as straightforward hobby and for the other he paid 14%p.a. in the event that the aggregate hobby paid in one year is rs. 3260, what amount did he obtain at every rate?

A - Rs 12000, Rs 13000

B - Rs 11000, Rs 13000

C - Rs 12000, Rs 11000

D - Rs 12000, Rs 15000

Answer : A

Explanation

let the cash at 12% be rs. x. At that point, cash at 14%= Rs.(25000-x) * 14/100 *1=3260
=> 3x/25 + 7 (25000-x)/50=3260 => 6x + 175000-7x=163000
=> x= (175000-163000) =12000.
Cash at 12%=Rs 12000, Money at 14%=Rs (25000 - 12000) =Rs13000.


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