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

**A certain sum of money amounts to rupees 2900 at 4% per annum in 4 years. In how many years will it amount to rupees 5000 at the same rate?**

a) 20

b) 22

c) 24

d) 25

e) None of these

Answer –**d) 25**

**Explanation :**

2900 = p + p*(4/100)*4, p = 2500

5000 = 2500 + 2500*(4/100)*t

**A sum of money becomes four times at simple interest rate of 5%. At what rate it becomes seven times**

a) 8%

b) 10%

c) 12%

d) 14%

e) None of these

Answer –**b) 10%**

**Explanation :**

3p = p*(5/100)*t, t = 60

6p = p*(r/100)*60

**Arya borrows rupees 6000 from a bank at SI. After 4 years she paid Rs 2500 to the bank and at the end of 5 years from the date of borrowing he paid Rs 4560 to settle the account. Find the rate of interest (approx)**

a) 3.25%

b) 3.50%

c) 3.85%

d) 4%

e) None of these

Answer –**c) 3.85%**

**Explanation :**

Total interest she paid = 6000*(r/100)*4 + 3500*(r/100)*1 = 275r

total interest = 2500 + 4560 – 6000 = 1060

so 1060 = 275r, r = 3.85% approx

**A sum of money lent out at simple interest amounts to rupees 840 in 3 years and to rupees 1200 in 8 years. Find the rate of interest**

a) 11.8/13%

b) 11.7/13%

c) 12.8/13%

d) 12.7/13%

e) None of these

Answer –**b) 11.7/13%**

**Explanation :**

1200 = p + p*(r/100)*8

840 = p + p*(r/100)*3

Solve both equations to get r

**The simple interest on a certain sum of money at 4% per annum for 5 years is 100 more than the interest on the same sum for 3 years at 5% per annum. Find the sum**

a) 1000

b) 1500

c) 2000

d) 2500

e) None of these

Answer –**c) 2000**

**Explanation :**

p*(4/100)*5 – p*(5/100)*3 = 100

**A sum of rupees 4800 is lent out in two parts in such a way that the interest on one part at 10% for 4 years is equal to that on another part at 8% for 7 years. Find the two sums**

a) 2800, 2000

b) 2400, 2400

c) 2600, 2200

d) 2700, 2100

e) None of these

Answer –**a) 2800, 2000**

**Explanation :**

Let first part is A then second will be 4800 – A

A*(10/100)*4 = (4800 – A)*(8/100)*7

**The simple interest on a sum of money will be rupees 400 after 5 years. In the next 5 years the principal is doubled, what will be the total interest at the end of the 10**^{th}year

a) 800

b) 1000

c) 1200

d) 1600

e) None of these

Answer –**c) 1200**

**Explanation :**

400 = p*(r/100)*5, pr = 8000

SI = 2p*(r/100)*5 = pr/10 = 8000/10 = 800

Total interest = 400 + 800 = 1200

**What annual instalment will discharge a debt of rupees 1060 due in 4 years at 4 % simple interest?**

a) 200

b) 250

c) 300

d) 400

e) None of these

Answer –**b) 250**

**Explanation :**

Let each instalment be P,

[P + P*(4/100)*3] + [P + P*(4/100)*2] + [P + P*(4/100)*1] + P = 1060

**Anil borrowed some money at the rate of 5 percent per annum for the first 2 years, 3 percent for the next 4 years and 4 percent per annum beyond 6 years. If the total interest paid by him at the end of 9 years is rupees 3400, how much money did anil borrow.**

a) 5000

b) 8000

c) 10000

d) 12000

e) None of these

Answer –**c) 10000**

**Explanation :**

3400 = p*(5/100)*2 + p*(3/100)*4 + p*(4/100)*3 = 3400

**Saroj 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 these

Answer –**a)7800**

**Explanation :**

For the first 3 years SI will be = 20000*10/100*3 = 6000

Now he add 6000 to the principal i.e = 20000+6000 = 26000

Now interest earned at end of 6^{th}year = 26000*10/100*3 = 7800

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