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 - 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 - Rs 2000 adds up to Rs 2600 in 5 years at basic interest. In the event that the loan costs were expanded by 3%, it would add up to what amount?

A - Rs 2900

B - Rs 3200

C - Rs 3600

D - None of these

Answer : A

Explanation

Sum = Rs.2000, S.I = Rs. 600, Time = 5years.
∴ Rate = (100*S.I/sum*time) = (100*600/2000*5) = 6% p.a.
New, sum = Rs. 2000, Rate = 9% P.a., Time = 5 years.
S.I = Rs. (2000*9*5/100) = Rs. 900
Amount = Rs. (2000+900) = Rs. 2900

Q 3 - In the event that the yearly rate of simple interest increments from 10% to 25/2 %, a man yearly pay increments by Rs 1250. The primary is:

A - Rs 45000

B - Rs 3200

C - Rs 50000

D - Rs 65000

Answer : C

Explanation

Let the principle be rs. x. Then,
(x* 25/2*1/100*1)- (x*10/100*1) = 1250   => x/8 ?x/10 = 1250
=> 5x- 4x= 50000
 X= 50000.
Hence, the principle is Rs. 50000.

Q 4 - A commission operators permits a refund of 2% to a financial specialist while the organization pays on interest of 15% on the speculation. What rate of premium does the financial specialist really acquire on his venture?

A - 17%

B - 131/8%

C - 17%

D - 750/49%

Answer : D

Explanation

Instead of Rs.100, the investor invests = Rs. (100-2) = Rs. 98
Instead of Rs. 98 = Rs. 15
Interest on Rs. 100= Rs. (15/98*100) = Rs. 750/49

Q 5 - Find the amount Shyam will get after 10 years when he invests Rs 100000 at 10% interest.

A - 50000

B - 100000

C - 200000

D - Cannot be determined

Answer : C

Explanation

A = P {(100+rt)/100}
=100000{(100 + 10*10)/100}
= 100000{200/100}
= 200000

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 simple interest on a sum of money is 4/9 of the principal and the number of years is equal to the rate percent per annum. The rate per annum is

A - 5%

B - 20/3%

C - 6%

D - 7%

Answer : B

Explanation

We know, I = PTR/100

According to question,

I = 4P/9  and r = t

4P/9 = P*r*r/100
Or, r2 = 400/9
Or, r = 20/3

Q 8 - The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. The difference between their rate of interest is?

A - 3%

B - 0.3%

C - 5%

D - 7%

Answer : B

Explanation

(1500 x R1 x 3⁄100) - (1500 x R2 x 3⁄100) = 13.50
= 4500 (R1 - R2) = 1350
= R1 - R2 = 1350⁄4500 = 0.3%

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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