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Aptitude - Simple Interest Online Quiz
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.
Q 1 - Basic simple interest on Rs 500 for a long time at 6.25% for each annum is equivalent to the simple enthusiasm on Rs 400 at 5% for every annum for a certain timeframe. The timeframe is:
Answer : C
Explanation
Let the Required period of time be x years. Then, 500*4*625/100 = 20*x=> x= 6.25 =625/100= 25/4 years.
Q 2 - On the off chance that the basic simple interest on a certain total of cash for 15 months at 15/2 % p.a. surpasses the basic simple interest on the same aggregate for 8 months at 25/2 p.a. by Rs 32.50. The entirety is:
Answer : C
Explanation
Let the sum be rs. x. Then, (x* 15/2 *1/100*15/12)- (x*25/2*1/100*8/12) = 65/2 => 3x/32 ?x/12 = 65/2 => 9x-8x=3120 =>x= 3120 ∴ Sum = 3120
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:
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 - Rs. 6000 adds up to Rs. 7920 in 4 years at a sure rate of interest. On the off chance that the rate gets to be 1.5 times of itself, the measure of the same rule in 5 years will be:
Answer : B
Explanation
P = Rs. 6000, S.I = Rs. (7920-6000) = Rs. 1920, T= 4 years. R = (100*1920/6000*4) = 8% p.a. New rate = (1.5*8) % p.a. = 12% p.a. Now = Rs. 6000, R= 12% p.a. and T = 5 years. S.I = Rs. (6000*12/100*5) = Rs.3600 Amount = (6000+3600) = Rs. 9600.
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?
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 - What interest will be had on Rs 450 in 2 years if an interest of Rs 0.40 is charged on Rs 1 for 4 years
Answer : A
Explanation
Rate of Interest = Re 0.40 at Re 1 for 4 years = Re 0.10 at Re 1 for 1 year Simple Interest = PTR/100 = 450*2*10/100 = Rs 90
Q 7 - A sum of money becomes 7⁄6 of itself in 3 years at a certain rate of simple interest. The rate per annum is?
Answer : B
Explanation
Let sum be z. Then, Amount = 7z⁄6 S.I. = (7z⁄6 - 6) = z⁄6 years = 3 years. therefore Rate = 100 x z⁄z x 6 x 3 = 50⁄9 = 55⁄9
Q 8 - The prices of a T.V set worth Rs. 20000 is to be paid instalments of Rs. 1000 each. If the ROI be 6% per annum, and the first instalment be paid at the time of purchase, then the value of the last instalment covering the interest as well will be?
Answer : D
Explanation
Money paid in cash = Rs 1000 Balance payment = Rs (20000 - 1000) = Rs 19000
Q 9 - An entirety of Rs 600 adds up to Rs 720 in 4 years. What will it add up to if the rate of interest is expanded by 2%?
Answer : A
Explanation
P= RS. 600, S.I = Rs. (720-600) = Rs. 120, T = 4 years. Rate = (100* 120/ 600*4) % = 5% p.a. New rate = 7% P.a., P = Rs. 600 and T = 4 years. S.I = Rs. (600* 7/100*4) = Rs. 168 Thus new amount will be 600 + 168 = Rs 768.