Aptitude preparation
Aptitude on Simpleinterest
Aptitude questions and answers on Simpleinterest


1. Find the time needed to get 81rs as interest, where 450rs is capital and 4.5% is the rate of interest?

A.

4 years

B.

2 years

C.

7 years

D.

9 years


Correct Answer:Option
A
Explanation:
Time needed = [ (100 × 81) / (450 × 4.5) ] years = 4 years.
2. Khan took a handloan from Karim at rate of interest 12%p.a. If the total interest is 5400rs, then what will be the capital amount taken by Khan from Karim?

A.

Rs. 5000

B.

Rs. 15000

C.

Rs. 25000

D.

Rs. 35000


Correct Answer:Option
B
Explanation:
Capital amount = Rs. [ (100 × 5400) / (12 × 3) ] = Rs. 15000.
3. A sum fetched a total simple interest of Rs. 116.25 at the rate of 11 p.c.p.a. in 5 years. What is the sum?

A.

Rs. 512

B.

Rs. 256

C.

Rs. 529

D.

Rs. 211


Correct Answer:Option
D
Explanation:
Principal = Rs. [(100 × 116.25) / (11 × 5) ] = Rs. ( 11625 / 55 ) = Rs. 211 .
4. The simple interest on Rs. 30 for 5 months at the rate of 6 paise per rupee per month is?


Correct Answer:Option
C
Explanation:
S.I = Rs. [30 × ( 6 / 100 ) × 5 ] = Rs. 9 .
5. The simple interest at a% for a years will be Rs. a on a principal amount =  ?

A.

Rs. 105/a

B.

Rs. 120/a

C.

Rs. 100/a

D.

Rs. 30/a


Correct Answer:Option
C
Explanation:
Principal amount = Rs. [(100 × interst.) / (interest rate × time) ] = Rs. [ (100 × a) / (a × a) ] = Rs. 100/a .
6. Calculate the simple interest earned on an amount of Rs. 2,00,800 in 9 months at the rate of 7 1/4 % p.a. ?

A.

Rs. 10918.5

B.

Rs. 10818.5

C.

Rs. 20918.5

D.

Rs. 20818.5


Correct Answer:Option
A
Explanation:
Here 9 months = 3/4 year.
∴ S.I. = Rs. [ 200800 × 29/4 × 3/4 × 1/100 ] = Rs. 10918.5.
7. A principle amount Rs12,500 becomes Rs 15,500 in 3years at the rate of  simple interest?


Correct Answer:Option
C
Explanation:
Total interest = Rs. (15500  12500) = Rs. 3000.
Interest Rate = [ (100 × 3000) / (12500 × 3) ] % = 8 %.
8. What should be the least number of years in which the simple interest on Rs. 2600 at 6 2/3 % will be an exact number of rupees?


Correct Answer:Option
B
Explanation:
S.I. = Rs. [ 2600 × 20/3 × 1/100 × T ] = Rs. [ 520/3 ×T ] ,
Which is an exact number of rupees when T = 3.
9. A sum of money at simple interest amounts to Rs. 8150 in 3 years and to Rs. 8540 in 4 years. The sum is?

A.

Rs. 4512

B.

Rs. 6980

C.

Rs. 9834

D.

Rs. 7103


Correct Answer:Option
B
Explanation:
Simple interest for 1 year = Rs. (8540  8150) = Rs. 390.
Simple interest for 3 year = Rs. (390 × 3) = Rs. 1170.
So, Principal amount = Rs. (8150  1170) = Rs. 6980.
10. In how many years will a sum of principal amount double itself at 15% per annum?

A.

6 2/3 years

B.

4 1/3 years

C.

1 2/6 years

D.

4 2/6 years


Correct Answer:Option
A
Explanation:
Let sum = C.
Then, S.I = C.
∴ Time = [ (100 × S.I.) / (P × R) ] = [ (100 × C) / (C × 15) ] = 6 2/3 years.
11. The simple interest on a sum of money at 11% per annum for 7 years is half the sum. Find the sum ?


Correct Answer:Option
D
Explanation:
Let sum = a.
Then, S.I. = a/2 .
∴ a/2 = [ (a × 11 × 7) / 100 ] .
With the above data, we cannot find the required sum.
12. If the annual rate of simple interest increases from 10% to 12 1/2 % , Rohan’s yearly income increases by Rs. 1250. Find his principal amount (in Rs.) ?

A.

Rs 50,000

B.

Rs 40,000

C.

Rs 70,000

D.

None


Correct Answer:Option
A
Explanation:
Let the sum = Rs. S.
Then,
S × 25/2 × 1/100  (S × 10 × 1)/100 = 1250
↔ 25S  20S = 250000 ↔ 5S = 250000 ↔ S = 50000.
13. Karthik takes a loan of Rs. 2000 at 6% simple interest. He returns Rs. 1000 at the end of 1 year. In order to clear his dues at the end of 2 years, Karthik would pay?

A.

Rs. 180

B.

Rs. 1180

C.

Rs. 2180

D.

Rs. 3180


Correct Answer:Option
B
Explanation:
Amount to be paid = Rs. [ 1000 + (2000 × 6 × 1)/100+ (1000 × 6 × 1)/100 ] = Rs. 1180.
14. The price of a Sofa set is Rs.12,000 is to be paid in 12 equal instalments . If the rate of interest be 2% per year, Find the amount paid in each instalment?

A.

Rs. 1080

B.

Rs. 1180

C.

Rs. 1020

D.

Rs. 1089


Correct Answer:Option
C
Explanation:
12 months interest at 2% per year = 12000 × 2/100 = rs 240.
Total amount = 12000+240 = 12240 rs.
So, each installment = 12240/12 = rs 1020
15. Calculate the simple interest on Rs. 27,500 from March 9, 2003 to May 21, 2003 at 8 1/2 % rate will be?

A.

Rs. 512.50

B.

Rs. 378.50

C.

Rs. 467.50

D.

None


Correct Answer:Option
C
Explanation:
Time = (22 + 30 + 21) = 73 days = 1/5 year.
Simple interest = Rs. [ 27500 × 17/2 × 1/5 × 1/100 ] = Rs. 467.50.
16. A sum of Rs. 2800 gives a simple interest of Rs. 462 in 2 years and 4 months. The rate of interest per annum is?


Correct Answer:Option
B
Explanation:
Time = 2 years 4 months = 2 1/3 years = 7/3 years.
Rate = [ (100 × 462 × 3)/(2800 × 7) ] % = 7 % .
17. What is the present worth of Rs. 240 due in 2 years at 5% simple interest per annum?


Correct Answer:Option
A
Explanation:
Let the present worth = Rs. a.
Then, S.I. = Rs. (240  a).
So, [ (a × 5 × 2)/100 ] = 240 – a ↔ a = 2400 – 10a ↔ 11a = 2400
↔ a = 218.18.
18. A sum of money lent out at simple interest amount to Rs. 820 after 2 years and to Rs. 1200 after a further period of 5 years. The sum is?

A.

Rs. 400

B.

Rs. 700

C.

Rs. 230

D.

Rs. 200


Correct Answer:Option
B
Explanation:
Simple interest for 5 years = Rs. (1200  820) = Rs. 380.
Simple interest for 2 years = Rs. ( 380/5 × 2) = Rs. 152.
∴ Principal = Rs. (820  120) = Rs. 700.
19. The rate at which a sum becomes 5times of itself in 15 years at S.I., will be?

A.

26.66 %.

B.

56.12 %.

C.

34.95 %.

D.

12.09 %.


Correct Answer:Option
A
Explanation:
Let the sum = N. Then, S.I. = 4N.
So, Rate = [ (100 × S.I.) / (P × T) ] % = [ (100 × 4N) / (N × 15) ] % = 26.66 %.
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