100+ Simple Interest Aptitude Questions and Answers Pdf - 1

Question: 1

The price of a T.V. set worth Rs.20,000 is to be paid in 20 installments of Rs.1000 each. If the rate of interest be 6% per annum, and the first installments be paid at the time of purchase, then the value of the last installments covering the interest as well will be

(A) Rs. 2050

(B) Rs. 3000

(C) Rs. 12000

(D) Rs. 19000

Ans: D

Money paid in cash = Rs. 1000.

Balance payment = Rs. (20000 – 1000) = Rs. 19000.

Question: 2

The interest earned on Rs.15000 in 3 years at simple interest is Rs.5400. Find the rate of interest per annum

(A) 11%

(B) 11.5%

(C) 12%

(D) 12.5%

Ans: C

Rate = $${S.I. × 100} / {Principal × Time}$$

       = $${5400 × 100} / {15000 × 3}$$

      = 12% per annum.

Question: 3

The simple interest on Rs.10 for 4 months at the rate of 3 paise per rupee per month is

(A) Rs. 1.10

(B) Rs. 1.20

(C) Rs. 1.60

(D) Rs. 1.80

Ans: B

S.I. = Rs. $$(10 × {3} / {100} × 4)$$ = Rs. 1.20.

Question: 4

A certain amount earns simple interest of Rs.1750 after 7 years. Had the interest been 2% more, how much interest would it have earned?

(A) Rs. 135

(B) Rs. 245

(C) Rs. 350

(D) Cannot be determined

Ans: D

We need to known the S.I. principal and time to find the rate. Since the principal is not given, so data is inadequate.

Question: 5

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?

(A) 3 years

(B) 3.5 years

(C) 4 years

(D) 4.5 years

Ans: C

P = Rs. 450, S.I. = Rs. 81, R = 4.5%.

Time = $$({100 × 81} / {450 × 4.5})$$years = 4 years.

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