Simple Interest : Aptitude Questions and Answers

Q21. A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at % p.a. for 2 years. Find his gain in the transaction per year.

A. Rs. 112.50

B. Rs. 167.50

C. Rs. 150

D. Rs. 125

Q22. 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 ?

A. 3.6

B. 18

C. 6

D. 8

Q23. What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years ?

A. 1 : 3

B. 1 : 4

C. 1 : 9

D. 2 : 3

Q24. 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. 698

B. Rs. 690

C. Rs. 700

D. Rs. 650

Q25. A moneylender finds that due to a fall in the annual rate of interest from 8% to % , his yearly income diminishes by Rs. 61.50. His capital is :

A. Rs. 24,600

B. Rs. 22,400

C. Rs. 23,800

D. Rs. 26,000

Q26. 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 :

A. Rs. 10,000

B. Rs. 15,000

C. Rs. 2000

D. Rs. 20,000

Q27. If the annual rate of simple interest increases from 10% to % , a man’s yearly income increases by Rs. 1250. His principal (in Rs.) is :

A. 45,000

B. 50,000

C. 60,000

D. 65,000

Q28. Simple interest on a certain amount is  of the principal. If the numbers representing the rate of interest in percent and time in years be equal, then time, for which the principal is lent out, is :

A. 13/2 years

B. 11/2 years

C. 15/2 years

D. 7 years

Q29. A sum of money lent out at simple interest amounts to Rs. 720 after 2 years and to Rs. 1020 after a further period of 5 years. The sum is :

A. Rs. 700

B. Rs. 500

C. Rs. 710

D. Rs. 600

Q30. Peter invested an amount of Rs. 12,000 at the rate of 10 p.c.p.a. simple interest and another amount at the rate of 20 p.c.p.a. simple interest. The total interest earned at the end of one year on the total amount invested became 14 p.c.p.a. Find the total amount invested.

A. Rs. 20,000

B. Rs. 25,000

C. Rs. 22,000

D. Rs. 24,000