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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 - At which aggregate the simple interest at the rate of 15/4 for each annum will be Rs 210 in 7/3 years?

Answer : B

Explanation

Sum = Rs. (100*s.I/R*T) = Rs. (100*210)/(15/4*7/3) = Rs. (100*210*12/105) =2400 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?

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 - An entirety of cash contributed at a sure rate of simple interest pairs itself in 12 years 6 months. It will treble itself at the same rate of interest for.

A - 18 years 9 months

B - 20years 8 months

C - 22 years

D - 25 years

Answer : D

Explanation

Let the sum be Rs. x. then S.I. = Rs. x, time = 25/2 years.
Rate = (100*S.I/ sum*time) = (100*x*2/x*25) % p.a.  = 8% p.a.
Now, sum = RS. x, S.I= Rs. (3x-x) = Rs. 2x, Rate= 8% p.a.
Time = (100*S.I/ sum*Rate) = (100*2x/x*8) = 25 years.

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?

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 - Rs.1000 contributed at 5% p.a. S.I. In the event that the interest is added to the rule after at regular intervals, the sum will be gets to be Rs 2000 after.

Answer : D

Explanation

S.I for the 10 years = Rs. (1000* 5/100*10) = Rs. 500
Principle after 10 years becomes = Rs. (1000+500) = Rs. 1500
S.I on it = Rs. (2000- 1500) = 500
Time = (100*500/ 5*1500) years = 20/3 years

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:

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 amounts to RS. 9800 after 5 years and to 12005 after a further period of 8 years at the same rate of simple interest. The rate of interest per annum is?

Answer : A

Explanation

S.I. for 3 year = Rs. (12005 - 9800) = 2205
S.I. for 5 years = Rs. (^{2205 x 5}⁄₃) = 3675
Therefore Principal = (9800 - 3675) = 6125
Hence, Rate = (^{100 x 3675}⁄_{6125 x 5}) = 12%

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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