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Quant – Simple Interest – Set 10
Read the following instructions carefully
- The test contains 10 questions.
- Each question has 4 options, of which only one is correct.
- You have to finish the test in 8 minutes.
- You are awarded 1 mark for each correct answer, and 0.25 marks are deducted for each wrong answer.
- There is no negative marking for questions you do not attempt.
- You may pause the test at any time and resume where you left off.
- Your marks, the correct answers and an explanation for every question are shown as soon as you submit.
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Review this set's questions and answers (opens after you submit the test)
This free practice set from AndamanJobs has 10 questions to be solved in 8 minutes. Every question is listed below with four options. Open Show answer and explanation under a question to see the correct option and why it is correct. Try the timed test above first, then use this list to revise the questions you got wrong.
- A sum amounts to Rs 5500 in 2 years and to Rs 5750 in 3 years at simple interest. Find the sum.
- A. Rs 4500
- B. Rs 4000
- C. Rs 5000
- D. Rs 5500
Show answer and explanation
Answer: C. Rs 5000
Interest for 1 year = 5750 - 5500 = 250, so one year = 250. Sum = 5500 - 2 × 250 = Rs 5000.
- A man borrows Rs 15,000 at 4% per annum and lends it at 7% per annum, both at simple interest. What is his gain in 2 years?
- A. Rs 900
- B. Rs 810
- C. Rs 630
- D. Rs 720
Show answer and explanation
Answer: A. Rs 900
Gain per year = (7 - 4)% of 15,000 = 450. In 2 years = Rs 900.
- A man invests Rs 25,000, part at 10% and the rest at 6% per annum simple interest. His total yearly interest is Rs 2100. How much is invested at 10%?
- A. Rs 10,500
- B. Rs 15,000
- C. Rs 18,000
- D. Rs 19,500
Show answer and explanation
Answer: B. Rs 15,000
If x is at 10%: 10x/100 + 6(25,000 - x)/100 = 2100. This gives 4x = 60,000, so x = Rs 15,000.
- Find the simple interest on Rs 10,000 at 4% per annum for 2 years.
- A. Rs 800
- B. Rs 880
- C. Rs 960
- D. Rs 640
Show answer and explanation
Answer: A. Rs 800
SI = P × R × T / 100 = 10,000 × 4 × 2 / 100 = Rs 800.
- A sum of Rs 8000 earns a simple interest of Rs 1920 in 3 years. Find the rate of interest per annum.
- A. 8%
- B. 10%
- C. 5%
- D. 9%
Show answer and explanation
Answer: A. 8%
R = SI × 100 / (P × T) = 1920 × 100 / (8000 × 3) = 8%.
- In how many years will Rs 6000 earn a simple interest of Rs 960 at 8% per annum?
- A. 1 year
- B. 3 years
- C. 4 years
- D. 2 years
Show answer and explanation
Answer: D. 2 years
T = SI × 100 / (P × R) = 960 × 100 / (6000 × 8) = 2 years.
- At 6% per annum simple interest, a sum earns Rs 1440 in 3 years. Find the sum.
- A. Rs 7200
- B. Rs 8000
- C. Rs 9600
- D. Rs 8800
Show answer and explanation
Answer: B. Rs 8000
P = SI × 100 / (R × T) = 1440 × 100 / (6 × 3) = Rs 8000.
- A sum of money becomes three times itself in 10 years at simple interest. Find the rate of interest per annum.
- A. 20%
- B. 14%
- C. 22%
- D. 26%
Show answer and explanation
Answer: A. 20%
Interest = 2 × principal, so R = 200/T = 200/10 = 20%.
- What amount will Rs 5000 become in 5 years at 10% per annum simple interest?
- A. Rs 5250
- B. Rs 9000
- C. Rs 6000
- D. Rs 7500
Show answer and explanation
Answer: D. Rs 7500
SI = 5000 × 10 × 5/100 = 2500. Amount = 5000 + 2500 = Rs 7500.
- Find the simple interest on Rs 10,000 at 12% per annum for 9 months.
- A. Rs 1080
- B. Rs 990
- C. Rs 810
- D. Rs 900
Show answer and explanation
Answer: D. Rs 900
SI = 10,000 × 12 × (9/12) / 100 = Rs 900.