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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 - An aggregate of cash at basic premium adds up to Rs 2240 in 2 years and Rs 2600 in 5 years. The total:

A - Rs 1880

B - Rs 2000

C - Rs 2120

D - Data insufficient

Answer : B

Explanation

S.I for 3 year = (2600-2240) = Rs.360
S.I for 1 year = 360/3 = 120 Rs.
S.I for 2 year =120*2=240 Rs.
Sum = Rs. (2240-240) = 2000 Rs.

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 - In what amount of time would the simple interest on a sure total be 0.125 times the vital at 10% for each annum?

Answer : A

Explanation

Let the time be x years.
Let the sum be rs. P. Then, S.I = (0.125) P and R =10% p.a.
Time = (100*S.I/P*R) = {100*(0.125) P/ P*10} = 1.25 years.

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 - A sum of money doubles itself in 20 years. What is the rate of interest?

A - 10%

B - 5%

C - 15%

D - Cannot be determined

Answer : B

Explanation

Here, I = P. Given T = 20 years. R = ?

We know,
I = PTR/100
Or, R = I*100/PT
= P*100/P*20
= 5%

Q 6 - If the simple interest for 6 years be equal to 30% of the principal, it will be equal to the principal after

Answer : A

Explanation

Let's assume, principal = P and rate of interest = R%

According to question,
30P/100 = P*R*6/100
or,R = 5%

Now, let interest be equal to principal in T years.
Hence, I = PTR/100
Or, P = PT*5/100
Or, R = 20 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?

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 - If the annual ROI increases from 10% to 12¹⁄₂%, a man's yearly income increases by Rs. 1250. his principal (in Rs) is?

Answer : B

Explanation

Let the sum be z. Then,
(z x ²⁵⁄₂ x ¹⁄₁₀₀) - (^{z x 10 x 1}⁄₁₀₀) = 1250
= 25z - 20z = 250000 
 = 5z = 250000
 z = 50000

Q 9 - Find S.I on Rs. 7300 at 12% p.a. for the period from fifth Jan. 2007 to 18 April 2007.

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

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