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 aggregate of cash adds up to Rs 5200 in 5 years and to Rs 5680 in 7 years at basic premium. The rate of interest per annum is:

A - 3%

B - 4%

C - 5%

D - 6%

Answer : D

Explanation

S.I for 2 years = Rs. (5680-5200) = Rs. 480
S.I for 1 year = Rs. (480/2) = 240
S.I for 5 year = (240*5) = 1200 Rs.
Principle = Rs. (5200-1200) = 4000.
Rate = (1200*100/4000*5) %p.a. = 6% p.a.

Q 2 - A man contributes 1/3 of his capital at 7% p.a. 1/4 at 8% p.a. what's more, the rest of 10% p.a. In the event that his yearly wage is Rs 561, the capital is:

A - Rs 5400

B - Rs 6000

C - Rs 6600

D - Rs 7200

Answer : C

Explanation

Let capital be rs. x. then,
(x/3*7/100*1) +(x/4 * 8/100*1) + {x-(x/3+x/4)}*100*1= 561
=> 7x/300 +x/50 +5x/120 = 561 =>14x+12x +25 x = 336600
=> 51x = 336600 => x= 6600.

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 - An aggregate of Rs 10000 is loaned mostly at 8% and the staying at 10% p.a. On the off chance that the year?s interest on the normal is 9.2% the cash loaned at 10% is:

A - Rs 6000

B - Rs 5500

C - Rs 5000

D - Rs 4500

Answer : A

Explanation

Ratio of investments = 0.8: 1.2: = 2:3
Money at 10% = Rs. (10000*3/5) = Rs. 6000>

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 - 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 - 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 - 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 - 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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