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Quantitative Aptitude — Simple Interest
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Quantitative Aptitude — Simple Interest

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8 mins
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10
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1
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Quantitative Aptitude — Simple Interest — Questions with Answers Open after you finish the quiz — all 10 questions, with answers and explanations.
Q1. Q1: What will be the simple interest on a principal of Rs. 5000 at a rate of 10% per annum for 3 years?
  1. Rs. 1500
  2. Rs. 1200
  3. Rs. 1800
  4. Rs. 2000
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Answer: A. Rs. 1500
Simple Interest (SI) = (Principal × Rate × Time) / 100 SI = (5000 × 10 × 3) / 100 = 150000 / 100 = Rs. 1500.
Q2. Q2: If the simple interest on a certain sum for 5 years at 8% per annum is Rs. 1200, what is the principal amount?
  1. Rs. 4000
  2. Rs. 3000
  3. Rs. 2500
  4. Rs. 3200
Show answer
Answer: B. Rs. 3000
Principal (P) = (SI × 100) / (Rate × Time) P = (1200 × 100) / (8 × 5) = 120000 / 40 = Rs. 3000.
Q3. Q3: At what annual rate of simple interest will Rs. 4000 yield an interest of Rs. 800 in 4 years?
  1. 6%
  2. 4%
  3. 5%
  4. 7%
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Answer: C. 5%
Rate (R) = (SI × 100) / (Principal × Time) R = (800 × 100) / (4000 × 4) = 80000 / 16000 = 5%.
Q4. Q4: In how many years will a sum of Rs. 6000 earn a simple interest of Rs. 1800 at 6% per annum?
  1. 6 years
  2. 4 years
  3. 7 years
  4. 5 years
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Answer: D. 5 years
Time (T) = (SI × 100) / (Principal × Rate) T = (1800 × 100) / (6000 × 6) = 180000 / 36000 = 5 years.
Q5. Q5: What will be the total amount (principal + interest) if Rs. 8000 is invested at 5% simple interest per annum for 4 years?
  1. Rs. 9600
  2. Rs. 9200
  3. Rs. 9400
  4. Rs. 9800
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Answer: A. Rs. 9600
SI = (8000 × 5 × 4) / 100 = 160000 / 100 = Rs. 1600. Amount = Principal + SI = 8000 + 1600 = Rs. 9600.
Q6. Q6: A sum of money doubles itself in 8 years at simple interest. What is the annual rate of interest?
  1. 10%
  2. 12.5%
  3. 15%
  4. 18%
Show answer
Answer: B. 12.5%
If the sum doubles, SI = Principal (P). So, P = (P × R × 8) / 100. 1 = (R × 8) / 100 => R = 100 / 8 = 12.5%.
Q7. Q7: At what annual rate of simple interest will a sum of money triple itself in 10 years?
  1. 15%
  2. 25%
  3. 20%
  4. 30%
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Answer: C. 20%
If the sum triples, SI = 2 × Principal (P). So, 2P = (P × R × 10) / 100. 2 = (R × 10) / 100 => R = 200 / 10 = 20%.
Q8. Q8: The simple interest on a certain sum for 3 years at 10% per annum is Rs. 300 less than the simple interest on the same sum for 5 years at 8% per annum. Find the sum.
  1. Rs. 2500
  2. Rs. 3500
  3. Rs. 4000
  4. Rs. 3000
Show answer
Answer: D. Rs. 3000
Let the sum be P. SI1 = (P × 10 × 3) / 100 = 0.3P SI2 = (P × 8 × 5) / 100 = 0.4P According to the question, SI2 - SI1 = 300 0.4P - 0.3P = 300 0.1P = 300 => P = 300 / 0.1 = Rs. 3000.
Q9. Q9: A sum of Rs. 12000 is lent out in two parts such that the simple interest on the first part at 6% for 3 years is equal to the simple interest on the second part at 8% for 4 years. Find the two parts.
  1. (Rs. 7680, Rs. 4320)
  2. (Rs. 7200, Rs. 4800)
  3. (Rs. 8000, Rs. 4000)
  4. (Rs. 6000, Rs. 6000)
Show answer
Answer: A. (Rs. 7680, Rs. 4320)
Let the first part be x. Then the second part is (12000 - x). SI1 = (x × 6 × 3) / 100 = 18x / 100 SI2 = ((12000 - x) × 8 × 4) / 100 = 32(12000 - x) / 100 Since SI1 = SI2: 18x = 32(12000 - x) 18x = 384000 - 32x 50x = 384000 x = 384000 / 50 = 7680. First part = Rs. 7680. Second part = 12000 - 7680 = Rs. 4320.
Q10. Q10: A sum of Rs. 10000 is lent at 10% simple interest for the first 2 years and at 12% for the next 3 years. Find the total simple interest earned.
  1. Rs. 5000
  2. Rs. 5200
  3. Rs. 5400
  4. Rs. 5600
Show answer
Answer: D. Rs. 5600
SI for first 2 years = (10000 × 10 × 2) / 100 = 2000. SI for next 3 years = (10000 × 12 × 3) / 100 = 3600. Total SI = 2000 + 3600 = Rs. 5600.
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