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 !!

Questions penned by Yogit

**The simple interest on a sum of money will be rupees 210 after 3 years. In the next 3 years, principal become 4 times, then the total interest at the end of 6 years.**

a) 1020

b) 1050

c) 1080

d) 1100

e)None of theseAnswer –**b) 1050**

**Explanation :**

210 = P*(r/100)*3

now, SI = 4*p*(r/100)*3

SI = 4*210 = 840. So total SI for 6 years = 840 + 210 = 1050.**Rahul earns an income of rupees 1200 when he put rupees 3000 at R% per annum and rupees 4500 at one percent higher than previous. He invests for a period of 5 years. Find the rates of interest**

a) 39/25 and 63/25

b) 38/25 and 64/25

c) 13/5 and 18/5

d) 39/25 and 44/25

e)None of theseAnswer –**c) 13/5 and 18/5**

**Explanation :**

1200 = 3000*(r/100)*5 + 4500*(r+1/100)*5

r = 13/5% and r+1 = 18/5%**A sum of 5000 is invested in which the investor gets 800 as simple interest at the rate of 4 percent per annum. To get an interest of 2000 rupees on the same sum in the same number of years, what will be the rate of interest?**

a) 5%

b) 10%

c) 15%

d) 20%

e)None of theseAnswer –**b) 10%**

**Explanation :**

800 = 5000*(4/100)*t, we got t = 4 years

now, 2000 = 5000*(r/100)*4, we get r = 10%**A certain sum of money is borrowed by ankit at 5 percent per annum for 10 years. If he pays an interest of rupees 200, then the total amount paid by ankit.**

a) 450

b) 500

c) 600

d) 650

e)None of theseAnswer –**c) 600**

**Explanation :**

200 = p*(5/100)*10, we get P = 400

so total amount = 400+200 = 600**Rakesh borrowed rupees 5000 from a bank ABC at simple interest. He pays bank 3000 rupees at the end of 3 years and again he pays 2500 at the end of 5 years from the date of borrowing, Find the rate of interest charged by bank.**

a) 50/21 %

b) 50/19 %

c) 50/23 %

d) 50/23 %

e)None of theseAnswer –**b) 50/19 %**

**Explanation :**

Total money paid by rakesh = 3000 + 2500 = 5500 so total interest paid by rakesh is 500.

For the first three years 5000 will be the principal , then he returns rupees 3000 so fir the next 2 years 2000 will be principal.

500 = 5000*(r/100)*3 + 2000*(r/100)*2, u will get r = 50/19%**Some amount of money out of 8000 rupees is lent at 8 percent and remaining at 6 percent per annum. If the total interest obtained from both sum in 4 years is 2400, then find the sum lent at 8 percent rate (approx)**

a) 6000

b) 3000

c) 5000

d) 4000

e)None of theseAnswer –**a) 6000**

**Explanation :**

2400 = p*(8/100)*4 + (8000 – p)*4*(6/100)

p = 6000**Two equal amount of sum are deposited in banks at the rate 5 percent per annum. The amount deposited for 3 and 5 years respectively. If the difference between the SI obtained is 120 rupees, then find the sum**

a) 1100

b) 1200

c) 1300

d) 1400

e)None of theseAnswer –**b) 1200**

**Explanation :**

120 = p*(5/100)*5 – p*(5/100)*3**A sum of rupees is divided between three people A, B and C in such a way that after 2 years, 3 years and 4 years respectively the amount they get is equal. The rate of interest is 10 percent. Find the ratio in which the amount is divided.**

a) 91:43:78

b) 91:84:78

c) 90:43:78

d) 91:47:89

e)None of theseAnswer –**b) 91:84:78**

**Explanation :**

Let they get A, B and C rupees initially.

Amount after 2, 3 and 4 years respectively = 6A/5, 13B/10, 7C/5

Ratio=> 6A/5 : 13B/10 : 7C/5 = x (x is any constant)

A = 5x/6 , B = 10x/13 and C = 5x/7

So ratio – 91:78:84**Mohan 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.

e)None of theseAnswer –**a) 7800**

**Explanation :**

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**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

e)None of theseAnswer –**a) 20/3**

**Explanation :**

4/9*P = P*R/100*R

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