QUANTITATIVE APTITUDE - SIMPLE INTEREST SET 06

SIMPLE INTEREST SET 06

1. A sum of Rs. 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both the loans. What was the original rate of interest?
 

A) 3.46%          B) 4.5%          C) 5%              D) 6%
 

2. How long will it take for a sum of money to grow from Rs.1250 to Rs.10,000, if it is invested at 12.5% p.a simple interest?
 

A) 65years          B) 56years          C) 45years          D) 57years
 

3. 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) 650              B) 690              C) 698              D) 700
 

4. 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) 3.5 years          B) 4 years          C) 4.5 years          D) 5 years
 

5. A sum of money invested for a certain number of years at 8% p.a. simple interest grows to Rs.180. The same sum of money invested for the same number of years at 4% p.a. simple interest grows to Rs.120 only. For how many years was the sum invested?
 

A) 25years          B) 15years          C) 20years          D) 22years
 

6. 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?
 

A) Rs. 4462.50          B) Rs. 8032.50          C) Rs. 8900          D) Rs. 8925
 

7. An automobile financier claims to be lending money at simple interest, but he includesthe interest every six months for calculating the principal. If he is charging an interest of10%, the effective rate of interest becomes:
 

A) 10%          B) 10.25%          C) 10.5%          D) none of these
 

8. A man borrowed Rs 24000 from two money lenders. For one loan, he paid 15% per annum and for the other 18% per annum. At the end of one year, he paid Rs 4050. How much did he borrow at each rate ?
 

A) Rs.16000          B) Rs.12000          C) Rs.15000          D) Rs.13000
 

9. The difference between the simple interest received from two different sources on Rs.1500 for 3 years is Rs.13.50. The difference between their rates of interest is
 

A) 0.1%          B) 0.2%          C) 0.3%          D) 0.4%
 

10. 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) 2:3              D) data is inadequate

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