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 - An acquires Rs 800 at the rate of 12% for each annum simple interest and B obtains Rs 910 at the rate of 10% for every annum basic interest. In how long will their measures of obligations be equivalent?

A - 18 years

B - 20 years

C - 22 years

D - 24 years

Answer : C

Explanation

Let the required time be x years. Then,
800+800 *12/100*x= 910+910*10/100*x
=> (96x-91x) =110
=> 5x= 110 => x=22.

Q 2 - Krait took a credit at basic simple interest at 6 % in the first years with an increment of 0.5 % in each consequent year. She paid Rs 3375 as simple interest following 4 years. What amount of advance did she take?

A - Rs 12500

B - Rs 15800

C - Rs 33250

D - cannot be resolved

Answer : A

Explanation

Let the loan taken be rs. x. Then,
X*6/100 *1+ x*6.5/100*1+ x*7/100*1 +x*7.5/100*1 = 3375
=> (6+6.5+7+7.5)*x/100 = 3375
=> x= (3375*100/27) = 12500.

Q 3 - On a sure aggregate, the basic simple interest toward the end of 25/2 years gets to be 3/4 of the whole. What is the rate percent per annum?

A - 4%

B - 5%

C - 6%

D - None of these

Answer : C

Explanation

Let the sum be Rs. x. Then, S.I = Rs. 3x/4, time = 25/2 years.
∴ Rate = (100*3x/4 *1/x*2/25) % P.a. = 6%

Q 4 - What yearly installment will release an obligation of Rs 580 due in 5 years at 8% p.a.?

A - Rs 166.40

B - Rs 65.60

C - Rs 100

D - Rs 120

Answer : C

Explanation

Let the required annual installment be Rs. x. then,
(Amount of Rs. x for 4 year) + (amount of Rs. x for 3 year) + (amount of Rs.x for 2 year) + (amount of Rs.x for 1 year) + Rs. x = 580
=> (x+ x*8*4/100) +(x+ x*8*3/100) + (x+ x*8*2/100) + (x+ x*8*1/100) +x= 580
=> (x+ 8 x/25) +(x+ 6 x/25) + (x+ 4 x/25) + (x+ 2 x/25) +x = 580
=>   33x/25 + 31x/25 + 29x/25+ 27x/25+x = 580
=> (33x+31x+29x+27X+25x) = 14500 =>145x = 14500 => x= 100.
Required installment = Rs. 100.

Q 5 - An entirety of Rs. 10 is loaned to be returned in 11 regularly scheduled payments of Rs. 1 every interest being basic. The rate of interest is?

A - 100/11%

B - 10%

C - 11%

D - 240/11%

Answer : D

Explanation

Rs. 10+ S.I on Rs. 10 for 11 months.
= Rs. 11+S.I. on Re 1 for (1+2+3+??+10) months.
=> Rs.10 +S.I on Re 1 for 110 months = Rs. 11 + S.I on Re 1 for 55 months
=> S.I. on Re 1 for 55 months = Re 1.
∴ Rate = (100*12/1*55) % = 240/11 %.

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 - 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 - An amount of Rs. 1,00,000 is invested in two types of shares. The first yields an interest of 9% p.a. and the second, 11% p.a. If the total interest at the end of one year is 934, then the amount invested in each share was?

A - Rs. 62500,Rs. 37500

B - Rs. 62500,Rs. 37000

C - Rs. 62050,Rs. 30500

D - Rs. 62550,Rs. 37550

Answer : A

Explanation

Let the sum invested at 9% be Rs. z and that invested at 11% be Rs. ( 100000 - z ). Then,
z x 9 x 1100 + (100000 - z) x 11 x 1100
= 100000 x 394 x 1100
= 9z + 1100000 - 11z100 
390004 = 9750 2z = (1100000 - 975000) = 125000 x = 62500 sum invested at 9% = Rs. 62500 sum invested at 11% = Rs. (100000 - 62500) = 37500

Q 9 - S.I On Rs. 5600 at 20/3% P.A for 9 month?

A - Rs. 280

B - Rs. 380

C - Rs. 480

D - Rs. 580

Answer : A

Explanation

Here P = 5600 Rs.R= 20/3% p.a. also, T = 9/12 = 3/4 year
S.I = (P*R*T)/100 = (5600*20/3*3/4*1/100) = Rs. 280


aptitude_simple_interest.htm

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