Aptitude Questions: Simple Interest Set 6

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Questions Penned by Yohit

1. A lent 2000rs to B at 8% annual rate of interest and some amount to C at same rate of interest for same period of time. If after 5 years, A got a total of 1500 rupee as interest. Find the sum lent to C.
   a) 1500
   b) 1650
   c) 1700
   d) 1750
   
   Answer & Solution

   Answer – d) 1750
   Solution: 1500 = 2000*(8/100)*5 + X*(8/100)*5
   
   
   
2. At what percent per annum will be SI on sum of money is equal to 3/5 of the amount in 5 years.
   a) 10%
   b) 20%
   c) 30%
   d) 40%
   
   Answer & Solution

   Answer – c) 30%
   Solution:
   Sol => SI = 3/5(SI +P)
   (P*R*5)/100 = 3/5[(P*R*5)/100 + P]
   R =30
   
   
   
3. Priya borrows 1000 rupees at the rate of 11% per annum on SI and rahul borrows 780 rupees at the rate of 15% per annum on SI. In how many years will the amount of debt of priya and rahul be equal.
   a) 31.3/7 yrs
   b) 31.2/7yrs
   c)32.1/7yrs
   d) 32.2/7yrs
   
   Answer & Solution

   Answer –a) 31.3/7 yrs
   Solution:
   1000 + 1000*(11/100)*T = 780 + 780*(15/100)*T
   
   
   
4. The simple interest on a certain sum is 4/9 of the principal and the numbers of years is equal to the rate of interest. The rate of interest is.
   a) 20/3
   b) 10/3
   c) 13/3
   d) 14/3
   
   Answer & Solution

   Answer –a) 20/3
   Solution:
   4/9*P = P*R/100*R
   
   
   
5. A sum of 8000 rupees is divided between two people A and B at the rate of interest of 4% and 5% respectively. The total interest earned after 2 years is equal to 750. Then find the ratio of investment between A and B.
   a) 3:11
   b) 5:11
   c) 6:11
   d) 7:11
   
   Answer & Solution

   Answer –b) 5:11
   Solution:
   Let A get X rupees and B get 8000-X rupees.
   750 = X*(4/100)*2 + (8000-X)*(5/100)*2
   X =2500 and 8000-2500 = 5500
   Ratio 5:11
   
   
   
6. A part of 2000 is lent at 6% per annum and rest sum is lent at 8% per annum. If total interest earned after 4 years is 500. Then the sum lent at 8%.
   a) 250
   b) 350
   c) 450
   d) 550
   
   Answer & Solution

   Answer –a) 250
   Solution:
   Let sum lent at 8% is X
   500 = X*(8/100)*4 + (2000-X)*(6/100)*4
   
   
   
7. Sohan invested 20000 rupee in fixed deposit at the rate of 10% simple interest. After every 3 rd year he added interest to principal. Find the interest earned at the end of 6^th year.
   a) 7800
   b) 8000
   c) 7600
   d) 8200
   
   Answer & Solution

   Answer –a) 7800
   Solution:
   For the first 3 years SI will be = 20000*10/100*3 = 6000
   Now he add 3000 to the principal i.e = 20000+6000 = 26000
   Now interest earned at end of 6^th year = 26000*10/100*3 = 7800
   
   
   
8. A statue of 550BC is priced at 15000 rupees. But a person wants instalment on the statue. So he gaves 10000 rupee cash and make an instalment of rupees 650 for 8 months. Find the rate of interest charged by the shopkeeper.
   a) 4%
   b) 6%
   c) 8%
   d) 10%
   
   Answer & Solution

   Answer –b) 6%
   Solution:
   Total amount buyer pays = 10000 + 650*8 = 15200
   So to find the interest rate, 200 = 5000*(8/12)*R/100
   So r= 6%.
   
   
   
9. Rs. 12000 was invested for 2 years, partly in scheme A at the rate of 5% SI per annum and partly in scheme B at the rate of 8% SI per annum. The total interest received at the end was Rs.1800. What amount of money was invested in scheme A ?
   a) 2000
   b) 1600
   c) 3200
   d) 4200
   
   Answer & Solution

   Answer –a) 2000
   Solution:
   x *5*2/100 + (12000-x)*2*8/100 = 1800
   x/10 + 192000-16x/100 = 1800
   10x+192000-16x=180000
   6x = 12,000
   X=2000
   
   
   
10. A sum was put at a certain rate of interest for four years. Had it been put at a rate of interest 4% higher than the previous rate of interest, it would have fetched Rs. 80 more. What is the sum ?
    a) 450
    b)500
    c)700
    d)475
    
    Answer & Solution

    Answer –b)500
    Solution:
    x*4*(r+4)/100 – (x*4*r)/100 = 80
    4xr+16x – 4xr = 8000
    X = 8000/16 =500
    
    
    

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