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 !!

**A certain sum of money at certain rate of interest becomes Rs 3420 after 2 years and at same rate after two and a half years becomes Rs 3525. Find the rate percent per annum.**

A) 8.5%

B) 8%

C) 7%

D) 10%

E) 11%

###### Answer & Explanation

**C) 7%**

Explanation:

Amount after 2.5 yrs = 3525, after 2 yrs = 3420

So SI for half yr = 3525-3420 = 105, so for 1 yr SI = 105*2 = 210

P + 2*SI = 3420

So P = 3420 – 2*210 = 3000

So 3000*r*2/100 = 420

**Rs 1200 becomes Rs 1632 after 4 years. If the rate of interest is increased by 2%, what will be the amount then?**

A) Rs 1,890

B) Rs 1,844

C) Rs 1,756

D) Rs 1,728

E) None of these

###### Answer & Explanation

**D) Rs 1,728**

Explanation:

Increase in interest in 4 yrs with rate 2%= 1200*4*2/100 = 96

So amount = 1632+96 = 1728**Rs 240 amounts to Rs 259.2 in 2 years, what will Rs 320 amount to in 4 yrs?**

A) Rs 454.5

B) Rs 365.2

C) Rs 485.2

D) Rs 435.4

E) Rs 371.2

###### Answer & Explanation

**E) Rs 371.2**

Explanation:

Interest on Rs 240 in 2 yrs = 259.2 – 240 = 19.2

So interest on Rs 320 = 19.2*(320/240)*(4/2) = 51.2

So amount = 320+51.2**Arun divides Rs 4702 among A, B, and C, so that if the amounts being invested at 4% simple interest, the amounts received after 2, 3 and 4 yrs by A, B, and C respectively is equal. Find the share of B?**

A) Rs 1,458

B) Rs 1,556

C) Rs 2,358

D) Rs 1,237

E) None of these

###### Answer & Explanation

**B) Rs 1,556**

Explanation:

4702 will be divided in ratio –

1/[100+rt1] : 1/[100+rt2] : 1/[100+rt3]

1/[100+4*2] : 1/[100+4*3] : 1/[100+4*4]

1/108 : 1/112 : 1/116

= 812 : 783 : 756

So B gets 783/(812+783+756) * 4702 = 1566**Rs 6200 is lent in two parts , one part at 6% for 5 years and second part at 8% for 4 years. After 5 years and 4 years respectively, the interests received from both parts is same. Find the amount lend at 6%.**

A) Rs 3,100

B) Rs 3,200

C) Rs 3,550

D) Rs 3,250

E) Rs 3,000

###### Answer & Explanation

**B) Rs 3,200**

Explanation:

Parts will be divided in ratio –

1/r1t1 : 1/r2t2

1/6*5 : 1/8*4

32 : 30 = 16 : 15

At 6% = 16/(16+15) * 6200

**What annual payment will discharge a debt of Rs 15,750 due in 3 years with rate if interest being 5% per annum?**

A) Rs 5,000

B) Rs 6,000

C) Rs 4,580

D) Rs 5,020

E) None of these

###### Answer & Explanation

**A) Rs 5,000**

Explanation:

I = 100*A / [100*t + rt(t-1)/2]

I = 100*15750 / [100*3 + 5*3(3-1)/2] = 100*15750/315**Rs 15,000 is to be invested in 2 schemes, one part is invested in scheme A which offers 9.5% rate of interest and remaining part is invested in scheme B which offers 5% rate on interest. After 3 years, a total of Rs 3600 is received as simple interest. What is the part invested in scheme A?**

A) Rs 10,000

B) Rs 9,000

C) Rs 11,500

D) Rs 10,500

E) None of these

###### Answer & Explanation

**A) Rs 10,000**

Explanation:

Rate for 3 yrs on total 15,000:

15000*r*3/100 = 3600

r = 8%

By method of allegation:

9.5 5

. 8

3 1.5

2 : 1

So in scheme A, 2/(2+1) * 15000 is invested**A sum of money invested for 13 years yields Rs 2500 as simple interest. The interest rate being charged at 4% for first 3 years, 5% for next 4 years and 8% beyond 7 years. What is the principal invested?**

A) Rs 3,525

B) Rs 3,475

C) Rs 3,125

D) Rs 2,125

E) None of these

###### Answer & Explanation

**C) Rs 3,125**

Explanation:

Beyond 7 years is after 7 years for remaining (13-7) = 6 years

P = 2500*100/[r1t1+r2t2+r3t3]

P = 2500*100/[4*3 + 5*4 + 8*6]**A certain sum of money invested at 4% for 9 years yields Rs 1980 as simple interest. At what rate of interest the same amount can be received on the same sum after 6 years?**

A) 8.5%

B) 7%

C) 6.5%

D) 6%

E) 8%

###### Answer & Explanation

**D) 6%**

Explanation:

P*4*9/100 = 1980

P = 5500

So 5500*r*6/100 = 1980**A borrowed Rs 2500 and some money from B and C respectively at 7% rate. After 4 years A pays a total of Rs 1120 as simple interest to B and C. What is the sum borrowed from C?**

A) Rs 1475

B) Rs 1500

C) Rs 1875

D) Rs 1935

E) Rs 1600

###### Answer & Explanation

**B) Rs 1500**

Explanation:

2500*7*4/100 + x*7*4/100 = 1120

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