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Simple Interest - Aptitude Questions and Answers

### Simple Interest Questions and Answers

#### Article

Q 1

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)

Rs. 35

B)

Rs. 245

C)

Rs. 350

D)

Cannot be determined

Correct Option - D

Explanation

We need to know the S.I., principal and time to find the rate.

Since the principal is not given, so data is inadequate.

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Q 2

A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:

A)

5%

B)

8%

C)

12%

D)

15%

Correct Option - C

Explanation

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Q 3

A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?

A)

3%

B)

4%

C)

5%

D)

6%

Correct Option - D

Explanation

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Q 4

An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes:

A)

10%

B)

10.25%

C)

10.5%

D)

None of these

Correct Option - B

Explanation

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Q 5

A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:

A)

Rs. 2000

B)

Rs. 10000

C)

Rs. 15000

D)

Rs. 20000

Correct Option - C

Explanation

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Q 6

How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?

A)

3.5 years

B)

4 years

C)

4.5 years

D)

5 years

Correct Option - B

Explanation

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Q 7

A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is:

A)

Rs. 650

B)

Rs. 690

C)

Rs. 698

D)

Rs. 700

Correct Option - C

Explanation