SIMPLE INTEREST

This Aptitude Practice set include Questions on Simple Interest that can be asked in SSC, IBPS RRB, IBPS PO, IBPS CLERK and other competitive examinations.

Questions on Simple Interest

1. A person borrows Rs 5000 for 2 years at 4% p.a. Simple interest .He immediately lends it to another person at 6 1/4 % p.a. for 2 years .Find the gain in the transaction per year.
A.150
B.167.50
C.125
D.112.50

2. How much time will it take for an amount Of Rs.450 to yield Rs. 81 as interest at 4.5% p.a. of simple interest?
A.5 years
B.4 years
C.3.5 years
D.4.5 years

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.6%
B.3%
C.5%
D.4%

4. Reena 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.18
D.None of these

5. A man took a loan form 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.15,000
B.20,000
C.10,000
D.21,000

6. What is the present worth of Rs.132 due in 2 years at 5% simple interest p.a.?
A.110
B.120
C.123
D.112

7. Rs.800 becomes Rs.956 in 3 years at a certain rate of Simple interest .IF the rate of interest is increased buy 4% ,what amount will Rs.800 become in 3 years?
A.1025
B.1020
C.1002
D.1052

8. 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.350
B.250
C.200
D.Cannot be determined
E.None of these

9. What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?
A.4:1
B.2:3
C.1:3
D.1:4

10. 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.698
B.700
C.650
D.690

11. A sum of money lent out at simple interest amounts to Rs.720 after 2 years and to Rs.1020 after a further period of 5 years .The sum is:
A.500
B.700
C.600
D.800

12. 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 p.a. is:
A.8%
B.6%
C.5%
D.12%

13. A lends Rs.2500 to B and a certain sum to C at the same time at 7% p.a. simple interest .If after 4 years ,A altogether receives Rs.1120 as interest from B and C ,then the sum lent to C is:
A.Rs.4000
B.Rs.6500
C.Rs.700
D.Rs.1500

14. The difference between the simple interest received from two different source on Rs.1500 for 3 years is Rs.13.50 .The difference between their rates of interest is:
A.0.3%
B.0.1%
C.0.2%
D.0.4%

15. Peter invested an amount of Rs.12,000 at the rate of 10 p.c.p.a. simple interest and another amount at the rate of 20 p.c.p.a. simple interest.The total interest earned at the end of one year on the total amount invested became 14 p.c.p.a..Find the total amount invested.
A.20,000
B.24,000
C.25,000
D.22,000

16. Mr.Thomas invested an amount of Rs.13,900 divied in two different schemes A and B at the simple interest rate of 14% p.a. and 11 % p.a. respectively.If the total amount of simple interest earned in 2 years be Rs.3508 ,what was the amount invested in scheme B?
A.Rs.6500
B.Rs.7200
C.Rs.6400
D.Rs.7500

17. A person invested in all Rs.2600 at 4%,6% and 8% p.a. simple interest .At the end of the year ,he got the same interest in all the three cases .The money invested at 4% is:
A.1200
B.800
C.200
D.600

18. Divide Rs.2379 into 3 parts so that their amounts after 2,3 and 4 years respectively may be equal ,the rate of interest being 5% p.a. at simple interest .The first part is:
A.792
B.759
C.828
D.818

19. At what percent p.a. will a sum of money double in 16 years ?
A.7 % p.a.
B.6 1/4 % p.a.
C.8 1/4% p.a.
D.9 % p.a.

20. A sum of Rs.1550 is lent out into two parts ,one at 8 % and another one at 6%.If the total annual income is Rs.106 ,find the money lent at each rate?
A.Rs.1000
B.Rs.900
C.Rs.850
D.Rs.950

• Trinity