Aptitude Questions – Simple Interest Set 15

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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 !!

1. 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 & Explanation

   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%
   
   
2. 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 & Explanation

   Answer – 4. 4675
   Explanation :
   x+x*7*10/100 = (8800-x)+(8800- x)*5*10/100
   x = 4125
   elder = 8800-4125 = 4675
   
   
3. 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 & Explanation

   Answer – 3. 5 years
   Explanation :
   6000 = 10000(7*x+5*(10-x))/100
   x = 5
   
   
4. 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 & Explanation

   Answer – 4. Rs.5632
   Explanation :
   SI = 2560*8*15/100
   3072
   Amount = 2560+3072 = 5632
   
   
5. 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 & Explanation

   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
   
   
6. 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 & Explanation

   Answer – 3.Rs. 10200Explanation :
   3476 = x*6*4/100 + (15900-x)*5*4/100
   x =7400
   Anil = 8500+8500*4*5/100 = 10200
   
   
7. 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 & Explanation

   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
   
   
8. 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 & Explanation

   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
   
   
9. 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 & Explanation

   Answer –2.Rs.1500
   Explanation :
   2235-1815 = p/100(7*7-7*3)
   p = 1500
   
   
10. 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 & Explanation

    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