QUANTITATIVE APTITUDE - SIMPLE INTEREST SET 05

SIMPLE INTEREST SET 05

1.A certain sum of money amounts to Rs 1008 in 2 years and to Rs 1164 in 3 ½  years. Find the sum and the rate of interest.
 

A) 800, 14%          B) 800, 13%          C) 800, 12%          D) 800, 19%
 

2.A man took 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.2000          B) Rs.10000          C) Rs.15000          D) Rs.20000
 

3.A father left a will of Rs.35 lakhs between his two daughters aged 8.5 and 16 such that they may get equal amounts when each of them reach the age of 21 years. The original amount of Rs.35 lakhs has been instructed to be invested at 10% p.a. simple interest. How much did the elder daughter get at the time of the will?
 

A) 17.5 lakhs         B) 21 lakhs          C) 15 lakhs          D) 20 lakhs
 

4. At what rate percent per annum will a sum of money double in 8 years.
 

A) 12.5%          B) 13.5%          C) 11.5%          D) 14.5%
 

5. 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?

A) Rs.6400          B) Rs.6500          C) Rs.7200          D) Rs.7500
 

6. A sum of Rs.1550 was lent partly at 8% p.a. simple interest. The total interest received after 3 years was Rs.300. The ratio of the money lent at 5% to that lent at 8% is :
 

A) 5:8              B) 6:7              C) 16:15          D) 17:18
 

7. A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 61/4  p.a for 2 years. Find his gain in the transaction per year
 

A) Rs. 112.50          B) Rs.150.25          C) Rs.167.50          D) Rs.170
 

8. A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:
 

A) 5%              B) 8%              C) 12%              D) 15%
 

9. Simple interest on a certain sum is 16/25 of the sum. Find the rate percent and time, If both are numerically equal.
 

A) Rate = 7% and Time = 7 years.      B) Rate = 8% and Time = 8 years.
C) Rate = 6% and Time = 6 years.      D) Rate = 5% and Time = 5 years.
 

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

A) Rs.35          B) Rs.245          C) Rs.350          D) cannot be determined
 

Answer Keys:1.B
2.C
3.B
4.A
5.A
6.C
7.A
8.C
9.B
10.D