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.

Questions and Answers

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:

A - 4 years

B - 5 years

C - 25/4 years

D - 26/3 years

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 - In how long an entirety will be thrice of it at the rate of 10% for each annum?

A - 15 years

B - 20 years

C - 30 years

D - 40 years

Answer : B

Explanation

Let the sum be Rs.x. then, S.I = Rs. (3x-x) = Rs. 2x
x*10/100 *t = 2x => t= 20 years.

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 - The distinction between the premiums got from two unique banks on Rs 5000 for a long time is Rs 25. The distinction between their rates is:

A - 1%

B - 2.5%

C - 0.5%

D - 0.25%

Answer : D

Explanation

Let the rates be x% p.a. and Y % p.a. Then,
(5000*x/100*2)- (5000*y/ 100 *2) =25
=> 100(x-y) = 25 => x-y =0.25
Required difference in rates = 0.25% p.a.

Q 5 - Minimal number of year in which the simple interest on Rs.2600 at 20? 3% simple interest will be correct number of Rs. is:

A - 2 years

B - 3 years

C - 4 years

D - 5 years

Answer : B

Explanation

S.I = (2600*20/3*1/100*n), where n is the number of years.
= (520/3*n), n being a whole number with minimum value= 3

Q 6 - A sum of Rs 1500 is lent out in two parts in such a way that the simple interest on one part at 10% per annum for 5 years is equal to that on another pert at 12.5% per annum for 4 years. The sum lent out at 12.5% is:

A - Rs 500

B - Rs 1000

C - Rs 750

D - Rs 1250

Answer : C

Explanation

Let the sum lent out at 12.5% be x
Sum lent out at 10% = 1500 - x

Now, (1500-x)*10*5/100 = x * 12.5*4/100
Or, 50(1500-x) = 50x
Or, 2x = 1500
Or, x = 750

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?

A - 12%

B - 55⁄9%

C - 18%

D - 65⁄9%

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 - 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 1⁄100 + 362.50 x 2R x 1⁄100 x 3 = 33.50
= (2175 + 725) R = 33.50 x 100 x 3 = 10050
= R = 10050⁄2900 = 3.46%

Q 9 - At what rate percent per annum will a whole of cash twofold in 8 years?

A - 12% p.a.

B - 13% p.a.

C - 14% p.a.

D - 15% p.a.

Answer : B

Explanation

Let standard be Rs. P. at that point, S.I = Rs. P and time = 8 year
∴ Rate = (100*S.I)/P.T = (100*156/600*2) % p.a. = 13% p.a.

aptitude_simple_interest.htm
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