Aptitude Questions on Simple Interest

  1. A sum of money triples itself in 12 years at simple interest. Find the rate of interest?
    A. 12 1/2%
    B. 14 4/7%
    C. 15 2/3%
    D. 16 2/3%
  2. D. 16 2/3%
    Let the pricipal be Rs. x, then amount = 3x(where R = rate of interest)
    => Interest = 3x - x = Rs. 2x
    R = (100 * 2x)/(x * 12) = 50/3 % = 16 2/3%
  3. The price of a T.V. set is worth Rs. 20,000 that needs to be paid in 20 installments of Rs. 1,000 each. If the rate of interest be 6% per annum, and the 1st installment be paid at the time of purchase, then the value of the last installment covering the interest will be?
    A. Rs. 17,000
    B. Rs. 18,000
    C. Rs. 19,000
    D. Rs. 20,000
  4. C. Rs. 19,000
    Money paid in cash = Rs. 1000
    Balance payment = (20000 - 1000) = Rs. 19,000
  5. How much Simple Interest can a person get on Rs. 8,200 at 17.5% p.a. for a period of 2 years and 6 months?
    A. Rs. 2,850
    B. Rs. 3,587.50
    C. Rs. 3,750
    D. Rs. 3,770.50
  6. B. Rs. 3,587.50
    S.I. = (8200 * 2.5 * 17.5)/100
    = (8200 * 5 * 35)/(100 * 2 * 2) = Rs. 3587.50
  7. In what time will Rs. 4,000 lent at 3% per annum on simple interest earn as much interest as Rs. 5,000 will earn in 5 years at 4% per annum on simple interest?
    A. 7 1/2 years
    B. 7 1/3 years
    C. 8 1/3 years
    D. 9 years
  8. C. 8 1/3 years
    (4000 * 3 * R) / 100 = (5000 * 5 * 4) / 100
    R = 8 1/3
  9. The S.I. on a certain sum of money for 3 years at 8% per annum is half the C.I. on Rs. 4000 for 2 years at 10% per annum. The sum placed on S.I. is?
    A. Rs. 1,550
    B. Rs. 1,650
    C. Rs. 1,750
    D. Rs. 1,850
  10. C. Rs. 1,750
    C.I. = [4000 * (1 + 10/100)2 - 4000]
    = (4000 * 11/10 * 11/10 - 4000) = Rs. 840
    Sum = (420 * 100)/(3 * 8) = Rs. 1750
  11. Rs.2500 is divided into two parts such that if one part be put out at 5% simple interest and the other at 6%, the yearly annual income may be Rs.140. How much was lent at 5%?
    A. Rs. 1,000
    B. Rs. 1,200
    C. Rs. 1,300
    D. Rs. 1,500
  12. A. Rs. 1,000
    (x * 5 * 1) / 100 + [(2500 - x) * 6 * 1] / 100 = 140
    X = 1000
  13. Abha took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?
    A. 3%
    B. 6%
    C. 9%
    D. 12%
  14. B. 6%
    Let rate = R% and time = R years.
    Then, (1200 * R * R) / 100 = 432
    =>12R^2 = 432
    =>R^2 = 36
    => R = 6
  15. 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. 590
    B. Rs. 668
    C. Rs. 698
    D. Rs. 700
  16. C. Rs. 698
    S.I. for 1 year = Rs. (854 - 815) = Rs. 39
    S.I. for 3 years = Rs.(39 * 3) = Rs. 117
    Therefore, Principal = Rs. (815 - 117) = Rs. 698
  17. A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum?
    A. Rs. 8,725
    B. Rs. 8,825
    C. Rs. 8,875
    D. Rs. 8,925
  18. D. Rs. 8,925
    Principal = Rs. (100 * 4016.25) / 9 * 5
    = Rs. (401625 / 45)
    = Rs. 8,925
  19. 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. 3.6 years
    B. 4 years
    C. 4.6 years
    D. 5 years
  20. B. 4 years
    Time = (100 * 81) / (450 * 4.5) = 4 years