Aptitude Questions: Simple Interest Set 8

Hello Aspirants. Welcome to Online Quants Quiz in AffairsCloud.com. Here we are creating question sample in Simple Interest, which is common for all the IBPS, RRB exam and other competitive exams. We have included Some questions that are repeatedly asked in exams !!

Questions penned by Yogit

  1. The simple interest on a sum of money will be rupees 210 after 3 years. In the next 3 years, principal become 4 times, then the total interest at the end of 6 years.
    a) 1020
    b) 1050
    c) 1080
    d) 1100
    e)None of these
    Answer & Explanation
    Answer – b) 1050
    Explanation :
    210 = P*(r/100)*3
    now, SI = 4*p*(r/100)*3
    SI = 4*210 = 840. So total SI for 6 years = 840 + 210 = 1050.
  2. Rahul earns an income of rupees 1200 when he put rupees 3000 at R% per annum and rupees 4500 at one percent higher than previous. He invests for a period of 5 years. Find the rates of interest
    a) 39/25 and 63/25
    b) 38/25 and 64/25
    c) 13/5 and 18/5
    d) 39/25 and 44/25
    e)None of these
    Answer & Explanation
    Answer – c) 13/5 and 18/5
    Explanation :
    1200 = 3000*(r/100)*5 + 4500*(r+1/100)*5
    r = 13/5% and r+1 = 18/5%
  3. A sum of 5000 is invested in which the investor gets 800 as simple interest at the rate of 4 percent per annum. To get an interest of 2000 rupees on the same sum in the same number of years, what will be the rate of interest?
    a) 5%
    b) 10%
    c) 15%
    d) 20%
    e)None of these
    Answer & Explanation
    Answer – b) 10%
    Explanation :
    800 = 5000*(4/100)*t, we got t = 4 years
    now, 2000 = 5000*(r/100)*4, we get r = 10%
  4. A certain sum of money is borrowed by ankit at 5 percent per annum for 10 years. If he pays an interest of rupees 200, then the total amount paid by ankit.
    a) 450
    b) 500
    c) 600
    d) 650
    e)None of these
    Answer & Explanation
    Answer – c) 600
    Explanation :
    200 = p*(5/100)*10, we get P = 400
    so total amount = 400+200 = 600
  5. Rakesh borrowed rupees 5000 from a bank ABC at simple interest. He pays bank 3000 rupees at the end of 3 years and again he pays 2500 at the end of 5 years from the date of borrowing, Find the rate of interest charged by bank.
    a) 50/21 %
    b) 50/19 %
    c) 50/23 %
    d) 50/23 %
    e)None of these
    Answer & Explanation
    Answer – b) 50/19 %
    Explanation :
    Total money paid by rakesh = 3000 + 2500 = 5500 so total interest paid by rakesh is 500.
    For the first three years 5000 will be the principal , then he returns rupees 3000 so fir the next 2 years 2000 will be principal.
    500 = 5000*(r/100)*3 + 2000*(r/100)*2, u will get r = 50/19%
  6. Some amount of money out of 8000 rupees is lent at 8 percent and remaining at 6 percent per annum. If the total interest obtained from both sum in 4 years is 2400, then find the sum lent at 8 percent rate (approx)
    a) 6000
    b) 3000
    c) 5000
    d) 4000
    e)None of these
    Answer & Explanation
    Answer – a) 6000
    Explanation :
    2400 = p*(8/100)*4 + (8000 – p)*4*(6/100)
    p = 6000
  7. Two equal amount of sum are deposited in banks at the rate 5 percent per annum. The amount deposited for 3 and 5 years respectively. If the difference between the SI obtained is 120 rupees, then find the sum
    a) 1100
    b) 1200
    c) 1300
    d) 1400
    e)None of these
    Answer & Explanation
    Answer – b) 1200
    Explanation :
    120 = p*(5/100)*5 – p*(5/100)*3
  8. A sum of rupees is divided between three people A, B and C in such a way that after 2 years, 3 years and 4 years respectively the amount they get is equal. The rate of interest is 10 percent. Find the ratio in which the amount is divided.
    a) 91:43:78
    b) 91:84:78
    c) 90:43:78
    d) 91:47:89
    e)None of these
    Answer & Explanation
    Answer – b) 91:84:78
    Explanation :
    Let they get A, B and C rupees initially.
    Amount after 2, 3 and 4 years respectively = 6A/5, 13B/10, 7C/5
    Ratio=> 6A/5 : 13B/10 : 7C/5 = x (x is any constant)
    A = 5x/6 , B = 10x/13 and C = 5x/7
    So ratio – 91:78:84
  9. Mohan invested 20000 rupee in fixed deposit at the rate of 10% simple interest. After every 3 rd year he added interest to principal. Find the interest earned at the end of 6th year.
    a) 7800
    b) 8000
    c) 7600
    d) 8200.
    e)None of these
    Answer & Explanation
    Answer – a) 7800
    Explanation :
    For the first 3 years SI will be = 20000*10/100*3 = 6000
    Now he add 3000 to the principal i.e = 20000+6000 = 26000
    Now interest earned at end of 6th year = 26000*10/100*3 = 7800
  10. The simple interest on a certain sum is 4/9 of the principal and the numbers of years is equal to the rate of interest. The rate of interest is.
    a) 20/3
    b) 10/3
    c) 13/3
    d) 14/3
    e)None of these
    Answer & Explanation
    Answer – a) 20/3
    Explanation :
    4/9*P = P*R/100*R
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