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Simple Interest - Aptitude Questions and Answers - RejinpaulPlacement




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15.
The simple interest on Rs. 1820 from March 9, 2003 to May 21, 2003 at 7   1/2% rate will be:
Answer & Solution
Answer: b) Rs. 27.30

Solution:   Time = (22 + 30 + 21) days = 73 days = 1/5 year.

S.I. = Rs. [1820 * (15/2) * (1/5) * (1/100)] = Rs. 27.30
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16.
A person borrows Rs. 5000 for 2 years at 4 % p.a. simple interest. He immediately lends it to another person at 6   1/4 % p.a. for 2 years. Find his gain in the transaction per year. [S.S.C. 2000]
Answer & Solution
Answer: b) Rs. 112.50

Solution:   Gain in 2 years = Rs. [(5000 * (25/4) * (2/100)) - [(5000 * 4 * 2)/100] = Rs. (625 - 400) = Rs. 225

Gain in 1 year = Rs. (225/2) = Rs. 112.50
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17.
How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest? [IGNOU 2003]
Answer & Solution
Answer: b) 4 years

Solution:   Time = (100 * 81)/(450 * 4.5) years
= 4 years
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18.
A sum of Rs. 12,5000 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest? [Bank P.O 2003]
Answer & Solution
Answer: d) 6%

Solution:   S.I. = Rs. (15500 - 12500) = Rs. 3000.

Rate = [(100 * 3000)/(12500 * 4)] % = 6%.
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19.
A sum of Rs. 1600 gives a simple interest of Rs. 252 in 2 years and 4 months. The rate of interest per annum is :
Answer & Solution
Answer: d) 6   3/4%
Solution:   Time = 2 years 4 months = 2   1/3 years = 7/3 years.

Rate = [(100 * 252 * 3)/(1600 * 7)] % = 6   3/4 %
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20.
Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest? [R.B.I. 2003]
Answer & Solution
Answer: b) 6

Solution:   Let rate = R% and time = R years.

(1200 * R * R)/100 = 432
=> 12R^2 = 432
=> R^2 = 36
=> R = 6.
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21.
A man took a loan from a bank at the rate of 12% p.a. simple interest. After 3 years, he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was: [S.S.C.2004]
Answer & Solution
Answer: c) 15,000

Solution:   Principal = Rs. (100 * 5400)/(12 * 3) = Rs. 15000.
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