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Quants Questions: Simple Interest Set 5

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Sheerin
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Hello Aspirants. Welcome to Online Quants Quiz in AffairsCloud.com. Here we are creating question sample in Simple Interest, which is common for all the IBPS, RRB exam and other competitive exams. We have included Some questions that are repeatedly asked in exams !!

  1. Niharika borrows Rs.10000 for 2 years at 4% p.a. Simple interest. She immediately lends money to Girish at 50/4% p.a. for 2 years. Find the gain of 1 year?
    A)1050
    B)580
    C)850
    D)None of these
    Answer – C)850
    Explanation :(10000*50*1/ 4*100 ) –  (10000*4*1 / 100)
    1250-400 = 850

  2. A certain amount of money amounts to Rs. 720 in 2 years and to Rs. 870 in 4(1/2) years. Find the rate of interest if S.I. is reckoned.
    A)12%
    B)10%
    C)12.50%
    D)None of these
    Answer – B)10%
    Explanation :
    Trick: (A1*T2- A2*T1) / T2-T1
    (720*9/2 )–(870* 2)   /  ( 9/2) -2

  3. At what percent per annum will  a sum of money triple in 16 years?
    A)12%
    B)10%
    C)12(1/2)%
    D)11(1/2)%
    Answer – C)12(1/2)%
    Explanation :
    P = P, SI=2P, T=16
    Rate= 100*2P/P*16

  4. The Simple Interest on a certain sum of money for 3(1/2) years at 16% p.a. is 60 less than the SI on the same sum for 4(1/2) years at 14% p.a. Find the sum.
    A)Rs.875.14
    B)Rs.785.12
    C)Rs.857.14
    D)None of these
    Answer –C)Rs.857.14
    Explanation :X*9*14/ 100*2 – x*7*16/ 100*2  =60

  5. A man lends Rs.20000 in four parts if he gets 8% on Rs.4000, 6(1/2)% on Rs. 8000 and 8(1/2)% on Rs.6000. What percent must he get for the remainder, if his average annual interest is 9.13%?
    A)13,8%
    B)23.8%
    C)12.8%
    D)None of these
    Answer – B)23.8%
    Explanation :
    (4000*8*1)/100 + (8000*13*1)/2*100  +(6000*17*1)/100 + (2000*R*1)/100 =9.13/100 *20000

  6. A sum was put at S.I. at certain rate for 4 years. Had it been put at 6% higher rate, it would have fetched Rs.800 more. Find the sum.
    A)1333.33
    B)3333.33
    C)1433.33
    D)3033.33
    Answer – B)3333.33
    Explanation :
    At 6% higher, increase in SI for 4 years= Rs.800
    For 1 year= 800/4= 200
    200 is 6% of the sum
    1%= 200/6
    Sum= 200*100 / 6

  7. If a sum of money becomes 16 times in 4 years at SI. The rate of interest is
    A)475
    B)440
    C)650
    D)375
    Answer – D)375
    Explanation :
    Trick: 100(x-1) / T i.e. 100(16-1) / 4
    X= No. of times it becomes

  8. A certain sum of money amounts to Rs.800 in 2 years and to Rs. 920 in 3 years then the sum is
    A)420
    B)680
    C)560
    D)None of these
    Answer – C)560
    Explanation :
    Trick: (A2 –  A1)/ T2-T1
    (920-800)  /1 = 120
    P = 800-240 = 560

  9. The SI on a sum of money will be Rs.2500 after 5 years. In the next 5 years Principal is trebled, what will be the total interest at the end of the 10th year?
    A)Rs.20000
    B)Rs.10000
    C)Rs.15000
    D)None of these
    Answer – B)Rs.10000
    Explanation :
    Trick: (n+1) * x  i.e.  (3+1) *2500
    N= No. of times it become
    X= SI

  10. A sum of money becomes 8 times at SI rate of 5% p.a. At what rate percent will it become twelve fold?
    A)6(6/7)%
    B)5(6/7)%
    C)7(6/7)%
    D)None of these
    Answer – C)7(6/7)%
    Explanation :
    [ (m-1) *r ] / n-1
    [(12-1) *5] /(8-1)

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