Simple & Compound Interest(Quantitative Aptitude > Interest ) Questions and answers for exam Preparation

Question 881. The present worth of a bill due 7 months hence is Rs.1200 and if the bill were due at the end of 2$1/2$ years its present worth would be Rs.1016. The rate per cent is

10%
5%
20%
15%

Discuss Question

Answer: Option A. -> 10%
Answer: (a)Using Rule 1Simple Interest (S.I.)= ${\text"Principal × Rate × Time"/100$ orS.I. = ${\text"P × R × T"/100$P = ${\text"S.I." × 100}/\text"R × T"$, R = ${\text"S.I." × 100}/\text"P × T"$, T = ${\text"S.I." × 100}/\text"P × R"$ A = P + S.I. or S.I. = A - P

Question 882. The simple interest on a sum for 5 years is one fourth of the sum. The rate of interest per annum is

6%
5%
8%
4%

Discuss Question

Answer: Option B. -> 5%
Answer: (b)$\text"Simple interest"/\text"Principal" = 1/4$Rate = ${\text"SI" × 100}/\text"Principal × Time"$= ${1 × 100}/{4 × 5} = 5%$ per annumUsing Rule 5,Here, n = $1/4$, T = 5 yearsR = ${n × 100}/T$= $1/4 × 100/5$ = R = 5%

Question 883. The simple interest on a sum at x% for x years is x. What is the sum?

$100/x$
$100/x^2$
$x^2$
x

Discuss Question

Answer: Option A. -> $100/x$
Answer: (a)P = $\text"100 × SI"/\text"R × T"$= $\text"100 × x"/\text"x × x"$ = $100/x$

Question 884. Simple interest on a certain sum for 4 years is $12/25$ of the sum. The rate of interest is

6%
6$1/2$%
12%
8$1/2$%

Discuss Question

Answer: Option C. -> 12%
Answer: (c)Rate = ${\text"SI" × 100}/\text"Principal × Time"$= $12/25 × 100/4$ = 12% per annumUsing Rule 5,Here, n = $12/25$, T = 4 years.R = ${n × 100}/T$R = $12/25 × 100/4$R = 12%

Question 885.

A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is:

Rs. 650
Rs. 690
Rs. 698
Rs. 700

Discuss Question

Answer: Option C. -> Rs. 698

S.I. for 1 year = Rs. (854 - 815) = Rs. 39.

S.I. for 3 years = Rs.(39 x 3) = Rs. 117.

Principal = Rs. (815 - 117) = Rs. 698.

Question 886.

Mr. Thomas invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B?

Discuss Question

Answer: Option A. -> Rs. 6400

Let the sum invested in Scheme A be Rs. x and that in Scheme B be Rs. (13900 - x).

Then,

x x 14 x 2

+

(13900 - x) x 11 x 2

= 3508
100
100

28x - 22x = 350800 - (13900 x 22)

6x = 45000

x = 7500.

So, sum invested in Scheme B = Rs. (13900 - 7500) = Rs. 6400.

Video Explanation: https://youtu.be/Xi4kU9y6ppk

Question 887.

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?

Discuss Question

Answer: Option B. -> 6

Let rate = R% and time = R years.

Then,

1200 x R x R

= 432
100

12R² = 432

R² = 36

R = 6.

Video Explanation: https://youtu.be/TjjI4iRkzT0

Question 888.

A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum?

Discuss Question

Answer: Option D. -> Rs. 8925

Principal
= Rs.

A Sum Fetched A Total Simple Interest Of Rs. 4016.25 At The ...

100 x 4016.25

9 x 5
= Rs.

401625

45
= Rs. 8925.

Question 889.

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?

3.5 years
4 years
4.5 years
5 years

Discuss Question

Answer: Option B. -> 4 years

Time =

100 x 81
years
= 4 years.
450 x 4.5

Video Explanation: https://youtu.be/WdBzN0Sj8jc

Question 890.

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

Discuss Question

Answer: Option D. -> 6%

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

Rate =

100 x 3000
%
= 6%
12500 x 4

Video Explanation: https://youtu.be/SIcQu1HOmOk

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