Quants Questions : Simple Interest Set 3

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 !!

1. Arjun took a certain sum as loan from Bank at a rate of 10% simple interest per annum. Arjun lends the same amount to Bala at 14% simple interest per annum. If at the end of five years. Arjun made profit of Rs.800 from the deal, how much was the original sum ?
   A)4000
   B)4500
   C)3000
   D)2500
   

   Answer

    A)4000
   Explanation :
   (x*14*5)/100 – (x*10*5)/100 = 800
   70x – 50x/100 = 800
   X = 80000/20 = 4000
   
   
   
2. The simple interest accrued on a sum of certain principal is Rs.1000 in 4 years at the rate of 6% pa. What would be the SI accrued on thrice of that principal at the rate of 4%pa in 3yrs.
   A)1055
   B)1050
   C)1500
   D)1005
   

   Answer

   C)1500
   Explanation :
   P = (1000*100)/(6*4) = 100000/24 = 4166.6 = 4167
   Interest = (3*4167*4*3)/100 = 1500.12 = 1500
   
   
   
3. A sum of money amounts to Rs. 1500 after 3 years and Rs.2000 after 5 years at the same rate of SI. Find the rate of interest per annum ?
   A)30.3%
   B)33.03%
   C)33.33%
   D)30.30%
   

   Answer

   C)33.33%
   Explanation :
   3 yr = 1500
   5yr = 2000
   Then SI 2yr (5-3) = 500
   SI 1yr = 250
   SI 3yr = 250*3 = 750
   P = 1500 – 750 = 750
   R = 750*100/750*3 = 33.3%
   
   
   
4. At what interest per annum will a sum of money double in 14 yrs ?
   A)7.14%
   B)7.41%
   C)7.11%
   D)7.12%
   

   Answer

   A)7.14%
   Explanation :
   Let principal = SI = P and N = 14
   R = (100*P)/(P*14) = 100/14 = 7.14%
   
   
   
5. A sum of Rs.1500 is lent out into 2 parts, one at 10% and another one at 6%. If the total annual income is Rs.100, Find the money lent at each rate
   A)550,910
   B)520,1250
   C)1250,250
   D)250,1250
   

   Answer

   D)250,1250
   Explanation :
   (x*10*1)/100 + ([1500-x]*6*1)/100 = 100
   10x+9000-6x = 10000
   4x = 1000
   X= 1000/4 = 250
   1500-x = 1500-250 = 1250
   
   
   
6. A certain amount was put at SI at R% for 3yrs. Had it beet put at 3% higher rate, it would have fetched Rs.450 more.Find the sum
   A)4000
   B)4500
   C)5000
   D)5500
   

   Answer

   C)5000
   Explanation :
   [P*(R+3)*3/100] – [(P*R*3)/100] = 450
   3PR+9P-3PR = 45,000
   P = 45,000/9 = 5000
   
   
   
7. What will be the ratio of SI earned by certain amount at the same rate of interest for 6yrs and 8yrs ?
   A)4:3
   B)3:4
   C)1:3
   D)2:3
   

   Answer

    B)3:4
   Explanation :
   6PR/8PR = 6/8 =3/4
   3:4
   
   
   
8. Yuvraj invested 1/2 of his capital at 4% and the remainder at10%.If his annual income is Rs.600,Find the capital
   A)8517
   B)8175
   C)8751
   D)8571
   

   Answer

   D)8571
   Explanation :
   (x/2*4/100)+(x/2*10/100) = 600
   4x/200 + 10x/200 = 600
   14x = 120000
   X = 120000/14 = 8571
   
   
   
9. The difference between the SI received from two different sources on Rs.2500 for 2 yrs is Rs.15. The difference between the rate of interest is
   A)0.1%
   B)0.2%
   C)0.3%
   D)0.4%
   

   Answer

   C)0.3%
   Explanation :
   (2500*R*2) – (2500*r*2) = 15*100
   5000(R-r) = 1500
   (R-r) = 1500/5000 = 0.3%
   
   
   
10. If annual rate is of SI is increased from 8% to 11%, a man’s yearly income increases by Rs.1500.Find the principal
    A)50,000
    B)5,000
    C)55,000
    D)50,500
    

    Answer

    A)50,000
    Explanation :
    11x – 8x = 1500*100
    3x = 1,50,000
    X = 150000/3 = 50,000