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, SBI, RBI, IPPB, LIC, SSC exams and other competitive exams. We have included Some questions that are repeatedly asked in exams !!

**Cost of a Mobile Rs.8000. Sudha bought Mobile in EMI. She paid a Down payment of Rs. 2000 and paid rest in 6 equal installments of Rs.1020 for next 6 months. Then what is the SI rate charged?**

1. 6.5%

2. 6.95%

3. 10.5%

4. 12.5%

5. None

Answer –**2. 6.95%**

**Explanation :**

Balance to be paid in installments = 8000-2000 = 6000

(6000+6000*r*3/12*100) = 1020*6+1020r/12*100(1+2+3+4+5)

r = 6.95%**Ajay lent Rs.8800 to be divided between his two sons aged 11 years and 13 years such that both of them would get an equal amount when lent at the**rate**of 10% SI****when they attain 18 years of age. What is the share of elder in Rs.8800?**

1. 4125

2. 4325

3. 4475

4. 4675

5. None

Answer –**4. 4675**

**Explanation :**

x+x*7*10/100 = (8800-x)+(8800- x)*5*10/100

x = 4125

elder = 8800-4125 = 4675**SBI lent Rs. 10,000 to Deepak @7% SI for 10 years. Meanwhile, the government implemented a scheme due to which interest rate reduced by 2%. By this Deepak paid Rs.16,000 in total. Then after how many years after Deepak took the loan, the government introduced the scheme?**

1. 3 Years

2. 4 Years

3. 5 years

4. 6 years

5. Cannot be determined

Answer –**3. 5 years**

**Explanation :**

6000 = 10000(7*x+5*(10-x))/100

x = 5**What amount would Rs.2560 fetch if it is lent at 8% SI for 15 years?**

1. Rs.3072

2. Rs.4632

3. Rs.5072

4. Rs.5632

5. None

Answer –**4. Rs.5632**

**Explanation :**

SI = 2560*8*15/100

3072

Amount = 2560+3072 = 5632**Veena has to pay Rs. 2460 to Sita, 5 Months later at 6% SI per annum, and Gita has to pay Sita same amount at 7.5% SI per annum after certain months. If both took the same amount of loan from Sita then Gita paid loan after how many months?**

1. 3 Months

2. 4 Months

3. 6 Months

4. 12 Months

5. Cannot be determined

Answer –**2. 4 Months**

**Explanation :**

2460= p+p*6*5/12*100

p = 2400

Now Gita

2460 = 2400+2400*7.5*x/12*100

x = 4**Amit lent a part of Rs. 15900 to Raju at 6% SI. Rest to Anil at 5% SI. After 4 years he got an amount of Rs 19376 in total. Then what is the amount paid by Anil in total?**

1.Rs. 9176

2.Rs. 9847

3.Rs. 10200

4.Rs. 11200

5.None

Answer – 3.Rs. 10200**Explanation :**

3476 = x*6*4/100 + (15900-x)*5*4/100

x =7400

Anil = 8500+8500*4*5/100 = 10200**A man invests Rs. 124000 for 9 years at 5% SI. Income tax at the rate of 19% is deducted from interest earned at the end of every year. Find the amount at the end of the 9th year?**

1.Rs. 169198

2.RS. 169918

3.Rs. 196918

4.Rs. 199698

5.None

Answer –**1.Rs. 169198**

**Explanation :**

for one year = 124000*5/100 = 6200

income tax = 6200*81/100 = 5022

for 9 years = 45198

Amount = 124000+45198 = 169198**Nitin invested an amount of Rs. 24000 at the 4% SI per annum, and another amount at 10% SI per annum. The total interest earned at the end of one year will be same as interest earned when the total amount invested at 6% SI per annum. Find the total amount invested?**

1.Rs.12000

2.Rs.24000

3.Rs.30000

4.Rs.36000

5.None

Answer –**4.Rs.36000**

**Explanation :**

24000*4/100 = 960

x*10/100 = 0.1x

960+0.1x = (24000+x)*6/100

x =12000

Total = 24,000+12,000 = 36,000**A sum of money becomes Rs.1815 at 7% SI after 3 years. Same sum of money becomes Rs. 2235 at same interest after 7 years.**

1.Rs.1200

2.Rs.1500

3.Rs.1800

4.Rs.2000

5.None

Answer –**2.Rs.1500**

**Explanation :**

2235-1815 = p/100(7*7-7*3)

p = 1500**Pratap lent Rs.21600 to be divided between his two sons who aged 9 years and 11 years such that both of them would get an equal amount at certain age when lent at rate of 10% SI per anuum. If their investments are in the ratio of 51:57 respectively.Then at what age both received same amount?**

1.15 Years

2.16 years

3.18 years

4.21 years

5.Cannot be determined

Answer –**3.18 years**

**Explanation :**

x+y = 21600

x/y = 51/57

x = 10200 y = 11400

10200+10200*10*(x-9)/100 = 11400+11400*10*(x-11)/100

x = 18

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