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Quantitative Aptitude > Interest

SIMPLE & COMPOUND INTEREST MCQs

Compound Interest, Simple Interest, Interest (combined)

Total Questions : 1171 | Page 40 of 118 pages
Question 391.

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 onerest only for the period. he principal  amount borrowed by him was  :


  1.    Rs. 2000
  2.    Rs. 10,000
  3.    Rs. 15,000
  4.    Rs. 20,000
 Discuss Question
Answer: Option C. -> Rs. 15,000

Principal = Rs. `((100 xx 5400)/(12 xx 3))` = Rs. 15000


Question 392.

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 he end of the loan period ,what was the rate of interest ?


  1.    3.6
  2.    6
  3.    18
  4.    cannot be deternined
  5.    None of these
 Discuss Question
Answer: Option B. -> 6

Let rate  = R% and time  =  R years. Then

`((1200 xx R xx R)/(100)) = 432    hArr   12R^2  = 432      hArr  R^2 = 36       hArr    R = 6.`


Question 393.

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 :


  1.    6%
  2.    `6 1/4`%
  3.    `6 1/2`%
  4.    `6 3/4`%
 Discuss Question
Answer: Option D. -> `6 3/4`%

Time = 2 years 4 months = `2 1/3` years = `7/2` years

Rate = `((100 xx 252 xx 3)/(1600 xx 7))`% =  `6 3/4`



Question 394.

A sum of Rs. 12,500 amount to Rs. 15,500 in  4 years at the rate of simple interest . What is the rate of interest ?


  1.    3%
  2.    4%
  3.    5%
  4.    6%
  5.    None of these
 Discuss Question
Answer: Option D. -> 6%

S.I. = Rs. (15500 - 12500) Rs.  3000

Rate = `((100 xx 3000)/(12500 xx 4))`% = 6%.


Question 395.

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 ?


  1.    3.5 years
  2.    4 years
  3.    4.5 years
  4.    5 years
 Discuss Question
Answer: Option B. -> 4 years

Time = `((100 xx 81)/(450 xx 4.5))` years = 4 years


Question 396.

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 .


  1.    Rs. 112.50
  2.    Rs. 125
  3.    Rs. 150
  4.    Rs. 167.50
 Discuss Question
Answer: Option A. -> Rs. 112.50

Gain in 2 yrs.  = Rs `[(5000 xx 25/4 xx 2/100) - ((5000 xx 4 xx 2)/(100))]` = Rs. (625 - 400) = Rs. 225

`:.`      Gain 1 year  =  Rs`(225/2)` =  Rs.  112.50


Question 397.

The simple interest on Rs. 1820 from  March 9, 2003 to May 21 ,2003 at `7 1/2`% rate will be :


  1.    Rs. 22.50
  2.    Rs. 27.30
  3.    Rs. 28.80
  4.    Rs. 29
 Discuss Question
Answer: Option B. -> Rs. 27.30

Time  = (22 + 30 + 21 ) days = 73 days = `1/5` year

`:.`       S.I.  = Rs. `(1820 xx 15/2 xx 1/5 xx 1/100)` = Rs. 27.30


Question 398.

What will be the simple interest earned on an amount of Rs. 16,800 in 9 months at the rate of `6 1/4` % p.a.


  1.    Rs. 787.50
  2.    Rs. 812.50
  3.    Rs. 860
  4.    Rs. 887.50
 Discuss Question
Answer: Option A. -> Rs. 787.50

Time  = 9 months = `3/4` years.

`:.` S.I. = Rs. `(16800 xx 25/4 xx 3/4 xx 1/100)` = Rs.  787.50


Question 399.

AT the rate of `8 1/2`%  p.a.  simple interest , a sum of Rs. 4800 will earn  how much  interest in  2 years 3 months ?


  1.    Rs. 796
  2.    Rs. 816
  3.    Rs. 918
  4.    Rs. 956
 Discuss Question
Answer: Option C. -> Rs. 918

Time  =  2 yrs 3 mths =  `2 1/4`yrs = `9/4` yrs.

`:.`      S.I.  = Rs. `(4800 xx 17/2 xx 9/4 xx 1/100)` = Rs. 918.


Question 400.

A sum of Rs. 1550 is lent two parts , one at 8% and another  one at 6% . If the total annual income is Rs. 106, Find the money lent a each  rae.


  1.    Rs. 800
  2.    Rs. 850
  3.    Rs. 875
  4.    Rs. 900
 Discuss Question
Answer: Option D. -> Rs. 900

Let the sum  lent at 8% be Rs. `x` and that at 6%  be Rs. (1550 - `x`).

`:.`       `[(x xx 8 xx 1)/(100)] + [((1550 - x) xx 6 xx 1)/(100)]` =  106

`hArr      8x + 9300 - 6x =  10600`

`hArr      2x = 1300      hArr   x` = 650

`:.`     Money lent at 8% = Rs. 650

Money lent at 6% = Rs. (1550 - 650) =  Rs. 900.


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