Simple Interest Aptitude Questions and Answers | MCQ Problems

2022-02-02

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Simple Interest Aptitude Questions and Answers | MCQ Problems: Basic Concepts along with the Simple Interest Quiz Online Test are available in this article. Therefore, for all those people who are training themselves for different Competitive Tests, Bank Exams, IT Openings in the Simple Interest Aptitude Section, here is a reliable source. Now, down in this post, we are providing some Tactics along with some Basic Formulae. Now, prepare with their help of them. And then go on and take the Simple Interest Quiz Online Test.

Well, while taking many Quizzes, aspirants have problems like they have to search another site or the Answers and Solutions. But here in Freshersnow.com, our team has done enough research and gathered these questions. Well, the Added benefit is that you will get the answer soon after along with the Solution and proper explanation. Amazing right? Exactly, therefore, check them and take the Quiz. You are a click away from your better preparation on Simple interest.

Table of Contents

Simple Interest Quiz Aptitude Online Test

Quiz Name	Simple Interest
Category	Aptitude
Number of Questions	25
Time	30 Minutes
Exam Type	MCQ (Multiple Choice Questions)

Simple Interest Aptitude Quiz – Practice Now

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1. An amount is lent out at y% p.a. at S.I for 2 years. If it had been lent at 2y% p.a at S.I for ‘a’ more years, then the interest would have been five times of the earlier interest. Find the value of ‘a’.(in years)

A. 5
B. 4
C. 3
D. 2
E. none of these

Answer: C

Explanation:

2. Rs, 2400 was invested for 3 years, partly in scheme A at the rate 15% S.I per annum and partly at the rate of 10% S.I per annum. Total interest received at the end was Rs.930. How much sum of money was invested in scheme A?

A. Rs.1500
B. Rs.1000
C. Rs.1200
D. Rs.1400
E. Rs.1900

Answer: D

Explanation:

3. Raman invested a certain sum of money in Bank A for a period of 4yr and gets Rs.100 as simple interest. After that he withdraws the amount and invests it in Bank B for 5yr which provides double the rate of interest as provided by bank A. From Bank B he gets Rs.300 as simple interest. Find the rate at which of money invested in bank A.

A. 7%
B. 5%
C. 8%
D. 10%
E. 9%

Answer: B

Explanation:

4. Arun invested Rs. 8000 on scheme A at R% of simple interest. He also invests Rs. 12000 on scheme B which offers (R+2)% simple interest. If the difference between the interests earned from both the scheme is Rs.800, then find the value of R.

A. 5%
B. 8%
C. 4%
D. 6%
E. 10%

Answer: C

Explanation:

5. There is 80% increase in an amount in 8 years at simple interest. What will be the compound interest of Rs. 15,000 after 3 years at the same rate of interest?

A. Rs. 4,965
B. Rs. 5,500
C. Rs. 4,700
D. Rs. 4,265
E. Rs. 5,865

Answer: A

Explanation:

6. A sum of money is given at 5% interest rate for 4 years earns Rs. 100 more interest than if same sum of money is given at 6% for 3 years. What is sum of money given on simple interest?

A. Rs. 6000
B. Rs. 7000
C. Rs. 5000
D. Rs. 8000
E. Rs. 5500

Answer: C

Explanation:

Let the sum of money be Rs. A.
According to the data in the question,
⇒ 2A = 10000
⇒ A = 5000

7. The difference between the interests earned when Rs.P is invested for four years in a scheme offering 9% p.a. simple interest and when the same sum (Rs. P) is invested for two years in another scheme offering 12% p.a. simple interest is Rs.480. What is the value of P?

A. 2000
B. 3500
C. 2500
D. 4000
E. 3000

Answer: D

Explanation:

8. The interest earned on a sum Rs. 24000 invested at certain rate of simple interest for 4 years is Rs. 11520. If the same sum is invested at 8 more rate percent for 3 years, then what will be the amount?

A. Rs. 33600
B. Rs. 38400
C. Rs. 36500
D. Rs. 34200
E. Rs. 34400

Answer: B

Explanation:

9. The rate of simple interest for first two year is 7% p.a, for the next 4 years 10%p.a. and for the period beyond 6 years, it is 15%p.a. if a person gets Rs 84,744 as simple interest after 9 years, then how much money did he invested.

A. Rs 85,600
B. Rs 80,000
C. Rs 78,600
D. Rs 85,890
E. None

Answer: A

Explanation:

10. At 8% Simple interest per annum a sum of money become Rs. 6516 in 512 year. The sum (in Rs.) initially invested was-

A. 1991
B. 4525
C. 6516
D. 5525
E. None

Answer: B

Explanation:

11. A sum of Rs10000 amounts to Rs 11664 in 2 years at a certain rate percent per annum, when the interest is compounded yearly. What will be the simple interest on the same for 5⅖ years at the same rate?

A. Rs 4320
B. Rs 4160
C. Rs 3840
D. Rs 4040
E. None

Answer: A

Explanation:

12. What is the simple interest on Rs. 52000 at 15/13% per annum for a period of 8 month?

A. 350 Rs.
B. 400 Rs.
C. 425 Rs.
D. 375 Rs.
E. None

Answer: B

Explanation:

SI=52000 * (15/13) * 100 * (8/12)
= 400 Rs.

13. The difference between the simple interest received from two different sources on Rs.1800 for 3 years is Rs.27. find the difference between rate? (R1>R2)

A. 0.6
B. 0.5
C. 0.15
D. 0.25
E. None

Answer: B

Explanation:

14. A invested Rs. X at 10% p.a. simple interest for 3 year and B invested (Rs. X + 500) at 15% p.a. simple interest for 2 years. If the sum of the interest earned by A and B after their investment period is Rs. 420, then what is the value of X?

A. Rs. 500
B. Rs. 450
C. Rs. 360
D. Rs. 400
E. None

Answer: B

Explanation:

15. A sum of ₹ 1600 gives a simple interest of ₹ 252 in 2 yr and 3 months. The rate of interest per annum is

A. 5.5%
B. 8%
C. 7%
D. 6%
E. None

Answer: C

Explanation:

Simple interest = PTR/100
Where P: principal amount, T: time period, R: rate of interest
Here P = 1600, S.I. = 252, T = 2year and 3 months = 2.25 years
Therefore
252 = 1600×2.25×R/100
→ R = 25200/(1600×2.25) = 252/36
→ R = 7%

16. Simple interest on a sum of Rs. 67400 for 14 months is Rs. 4718. What is the rate (in %) of interest per annum?

A. 4.5
B. 5.5
C. 5
D. 6
E. None

Answer: D

Explanation:

17. Sumit invested Rs. 14000 partially in scheme A which offers 7.5% p.a. at S.I. and remaining in scheme B which offer 9% p.a. at S.I. If after one year he got Rs 1147.5 as total interest then, find the amount invested by him in scheme B?

A. Rs 7000
B. Rs 7500
C. Rs 6750
D. Rs 6500
E. None

Answer: D

Explanation:

18. A sum of Rs. ‘X + 100’ was invested at 20% simple interest for 2 years. If the same sum was invested at 4% more for same period, then it would have fetched Rs. 120 more. Find the value of 5X. (in Rs.)

A. Rs. 7000
B. Rs. 7500
C. Rs. 7100
D. Rs. 7400
E. None

Answer: A

Explanation:

19. At 15% p.a. simple interest for 2 years. If the sum of the interest earned by A and B after their investment period is Rs. 420, then what is the value of X?

A. Rs. 500
B. Rs. 450
C. Rs. 360
D. Rs. 400
E. None

Answer: D

Explanation:

20. A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned ?

A. ₹ 35
B. ₹ 350
C. ₹ 245
D. Can’t be determined
E. None

Answer: D

Explanation:

When we solve this question, we find that we have two variables P (Principal) and R (Initial assumed rate of interest) in the R.H.S. of the SI equation. Therefore, the correct answer can’t be determined.

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Simple Interest Important Formula’s & Terms

Simple interest = (P x R x T)/100
p= (100 x SI)/R x T
R= (100 x SI)/P x T
T= (100 x SI)/P x R

Principal = P, Rate = R% per annum (pa) and Time = T years

Principal: Money Lent or Borrowed for a Time Period is the Principal or the Sum
Interest: Money that is paid extra for using the third Parties money.

So, the above Stated Formulae will help all the individuals to get a grip on the Simple Interest Problems. Therefore, now all you have to do is check the total formula and basic terms. Get an overall idea. And then proceed with taking the Simple Interest Quiz. Now, with the help of this, you can easily answer the questions.

Simple interest Problems Solving Tricks

Well, the Main key to solving problems like this, is memorizing the Formulas. Yes, knowing the Formulae is the main key. So, first of all, check the Basic Formulas. And then proceed to check the Question. Read it properly. And find what the Questioner asked you to find out. Then use the proper formula. Well, practice will make you more strong in this Area.

Hope, all the users are satisfied with the help we provided regarding the Simple Interest Aptitude Questions & Answers. And please remember that you can take this quiz anytime and Numerous times. To get more such informative articles and updates, check our site daily.

Simple Interest Aptitude Questions and Answers | MCQ Problems

Simple Interest Quiz Aptitude Online Test

Simple Interest Aptitude Quiz – Practice Now

Simple Interest Important Formula’s & Terms

Simple interest Problems Solving Tricks

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