Tuesday, April 2, 2013

Simple Interest - Sample Questions

1)      At the rate o 8.5% p.a. simple interest, a sum of Rs. 4800 will earn how much interest in 2 years 3 months?
a)      796            b) 816              c) 918              d) 956              e) None of these

2)      What will be the simple interest earned on an amount of Rs. 16, 800 in 9 months at 6.25%  p.a. ?
a)      Rs. 787.50             b) Rs. 812.50               c) Rs. 860        d) Rs. 887.50\
e) None of these

3)      How much time will it take for an amount of Rs. 450 to yield an interest of Rs. 81 at 4.5 p.a.?
a)      3.5 years                b) 4 years                     c) 4.5 years      d) 5 years
e) None of these

4)      A man took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. At the end, if he paid Rs. 432 as interest, what was the rate of interest per annum?
a)      3.6%                      b) 6%               c) 18                d) Cannot be determined
e) None of these

5)      In how many years will 150 produce the same interest at 8% p.a. as Rs. 800 produce in 3 years at 4.5% p.a.?
a)      6                b) 8                  c) 9                  d) 12                e) None of these

6)      At what rate will 1000 produce the same interest in 1 year as 2000 will produce at 2 % p.a. in 2 years?
a)      2%             b) 3%               c) 8%               d) 10%                        e) None of these

7)      The simple interest at x% for x years will be Rs. x on a sum of:
a)      Rs. x          b) Rs. (100/x)              c) Rs. 100x                  d) Rs. (100/x2)
e) None of these

8)      The simple interest on Rs. 10 at the rate of 3 paisa per rupee per month is Rs:
a)      1.20           b) 2.40             c) 1.60             d) 3.60             e) None of these

9)      A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is:
a)      Rs. 650      b) Rs. 690        c) Rs. 698        d) Rs. 700       e) None of these.

10)  A sum of money lent out amounts to Rs. 720 in 2 years and to Rs. 1020 after a further period of 5 years. The sum is:
a)      Rs. 500      b) Rs. 600        c) Rs. 700        d) Rs. 710       e) Cannot be determined

11)  A sum of money amounts to Rs. 9800 in 5 years and Rs. 12005 in 8 years at the same rate of simple interest. The rate of interest per annum is:
a)      5%             b) 8%               c) 12%             d) 15%                        e) None of these

12)  The simple interest on a sum of money at 8% per annum for 6 years is half the sum. The sum is:
a)      Rs. 4800    b) Rs. 6000      c) Rs. 8000      d) Data Inadequate     e) None of these

13)  A person takes a loan of Rs. 200 at 5% simple interest. He returns Rs. 100 at the end of the first year. To clear his dues at the end of second year, he would pay:
a)      Rs. 105      b) Rs. 110        c) Rs. 115        d) Rs. 115.50              d) None of these

14)  The simple interest on Rs. 100 at the rate of 5 paisa per rupee per year for 6 months is:
a)      Rs. 5          b) Rs. 2.50       c) Rs. 20          d) Rs.6                        e) None of these

15)  A sum of money amounts to Rs. 720 in 2 years and Rs. 1020 in a further period of 6 years. The sum is:
a)      Rs. 500                  b) Rs. 620                    c) Rs. 700                    d) Rs. 600
e) None of these

16)  What will be the ratio of simple interest earned by a certain amount at the same rate for 6 years and 9 years respectively?
a)      1:3             b) 1:4               c) 2:3               d) Data Inadequate
e) None of these

17)  A sum of Rs. 12,500 amounts to Rs. 15,500 in  4 years at a certain rate of interest. What is the rate of interest?
a)      3%             b) 4%               c) 5%               d 6%                e) None of these.

18)  A certain amount earns a simple interest of Rs. 1750 after 7 years. Had the interest been 2%  more, what will be the additional interest earned?
a)      Rs. 35        b) Rs. 245        c) Rs. 350        d) Cannot be determined
e) None of these

19)  A sum fetched a simple interest of Rs. 4016.25 at the rate of 9% p.a. in 5 years. What is the sum?
a)      Rs. 4462.50                       b) Rs. 8032.50             c) Rs. 8900                  d) Rs. 8925
e) None of these

20)  A certain sum doubles itself in a period of time at a rate of 10% p.a. What is the time duration for doubling?
a)      10 years                 b) 5 years         c) 15 years                   d) Cannot be determined
e) None of these.


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