Simple Interest - Quantitative Aptitude (MCQ) questions

1)   Raman paid Rs. 11400 as interest after 9 years. He had borrowed some money at rate of 6% for first two years, 9% for next three years and 14% for rest of the period. How much money did he borrow?
- Published on 13 Apr 17

a. Rs. 10000
b. Rs. 15000
c. Rs. 12000
d. Rs. 12500
Answer  Explanation 

ANSWER: Rs. 12000

Explanation:
simple interest


2)   Ram gets Rs. 2600 for Rs. 2000 in 5 years at some rate of simple interest. Had he invested in other places where rate of simple interest is 3% more than current rate, how much would have Ram got in same time?
- Published on 13 Apr 17

a. Rs. 2900
b. Rs. 3000
c. Rs. 3100
d. Rs. 2800
Answer  Explanation 

ANSWER: Rs. 2900

Explanation:
simple interest


3)   Guddi invested some money in a bank at rate of 6% per annum. At simple interest, after 9 years, she got Rs. 8470. How much did she invest?
- Published on 11 Apr 17

a. Rs. 5250
b. Rs. 6550
c. Rs. 6400
d. Rs. 5500
Answer  Explanation 

ANSWER: Rs. 5500

Explanation:
simple interest


4)   Aman got a salary of Rs. 8600. The salary was invested by him in two parts. Find the difference between the two parts of his salary, if in first part he got some simple interest at 15% per annum in 4 years, which was same as the second part which he invested at 20% for 3 years.
- Published on 11 Apr 17

a. Rs. 0
b. Rs. 2400
c. Rs. 100
d. Rs. 4500
Answer  Explanation 

ANSWER: Rs. 0

Explanation:
simple interest


5)   Aman invests Rs. 8000 at some rate of interest. Being simple interest the money doubles in 5 years. Raj sees this and invests Rs. 6250 for 3 years at same rate of interest. How much interest does Raj get?
- Published on 11 Apr 17

a. Rs. 3750
b. Rs. 6250
c. Rs. 3125
d. Rs. 4250
Answer  Explanation 

ANSWER: Rs. 3750

Explanation:
simple interest


6)   If simple interest for 2 years for a sum is Rs. 600 and compound interest for the same sum for 2 years and same rate of interest is Rs. 645, what will be the rate of interest?
- Published on 11 Apr 17

a. 10%
b. 15%
c. 30%
d. 5%
Answer  Explanation 

ANSWER: 15%

Explanation:
simple interest


7)   In 4 years the simple interest on certain sum of money is 9/25 of the principal. The annual rate of interest is
- Published on 05 Apr 17

a. 4%
b. 4(1/2)%
c. 9%
d. 10%
Answer  Explanation 

ANSWER: 9%

Explanation:
simple interest


8)   If simple interest on a certain sum for 15 months at 7(1/2) % per annum exceeds the simple interest on the same sum for 8 months at 12(1/2)% per annum by Rs. 32.50, then the sum (in Rs.) is
- Published on 05 Apr 17

a. 312
b. 312.50
c. 3120
d. 3120.50
Answer  Explanation 

ANSWER: 3120

Explanation:
simple interest


9)   A sum becomes Rs. 3000 at the rate of 12% per annum (simple interest). The same sum becomes Rs. 3300 at the rate of 15% per annum (simple interest) in the same duration. Find the sum and the duration.
- Published on 17 Mar 17

a. Rs. 2000 and 20 years
b. Rs. 1900 and 8.25 years
c. Rs. 1500 and 7 years
d. Rs. 1800 and 5.5 years
Answer  Explanation 

ANSWER: Rs. 1800 and 5.5 years

Explanation:
simple interest


10)   An amount becomes 7 times in 15 years. In how many years will the same amount become 10 times? The rate of interest remains the same for both cases.
- Published on 15 Mar 17

a. 20 years
b. 18.75 years
c. 22.50 years
d. 21.50 years
Answer  Explanation 

ANSWER: 22.50 years

Explanation:
simple interest


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