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Quant – Simple Interest – Set 7
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.
- Rs 6000 is divided into two parts so that the simple interest on the first part at 4% equals the simple interest on the second part at 6% for the same time. Find the first part.
- A. Rs 2520
- B. Rs 3240
- C. Rs 3960
- D. Rs 3600
Show answer and explanation
Answer: D. Rs 3600
4 × first = 6 × second, so first : second = 6 : 4. First part = 6000 × 6/(4+6) = Rs 3600.
- A sum amounts to Rs 10,400 in 3 years and to Rs 11,200 in 4 years at simple interest. Find the sum.
- A. Rs 8800
- B. Rs 10,400
- C. Rs 7200
- D. Rs 8000
Show answer and explanation
Answer: D. Rs 8000
Interest for 1 year = 11,200 - 10,400 = 800, so one year = 800. Sum = 10,400 - 3 × 800 = Rs 8000.
- A man borrows Rs 8000 at 4% per annum and lends it at 7% per annum, both at simple interest. What is his gain in 2 years?
- A. Rs 336
- B. Rs 576
- C. Rs 480
- D. Rs 624
Show answer and explanation
Answer: C. Rs 480
Gain per year = (7 - 4)% of 8000 = 240. In 2 years = Rs 480.
- A man invests Rs 12,000, part at 8% and the rest at 5% per annum simple interest. His total yearly interest is Rs 888. How much is invested at 8%?
- A. Rs 12,480
- B. Rs 7680
- C. Rs 9600
- D. Rs 10,560
Show answer and explanation
Answer: C. Rs 9600
If x is at 8%: 8x/100 + 5(12,000 - x)/100 = 888. This gives 3x = 28,800, so x = Rs 9600.
- Find the simple interest on Rs 8000 at 10% per annum for 5 years.
- A. Rs 4800
- B. Rs 2800
- C. Rs 5200
- D. Rs 4000
Show answer and explanation
Answer: D. Rs 4000
SI = P × R × T / 100 = 8000 × 10 × 5 / 100 = Rs 4000.
- A sum of Rs 5000 earns a simple interest of Rs 1800 in 3 years. Find the rate of interest per annum.
- A. 11%
- B. 14%
- C. 12%
- D. 13%
Show answer and explanation
Answer: C. 12%
R = SI × 100 / (P × T) = 1800 × 100 / (5000 × 3) = 12%.
- In how many years will Rs 10,000 earn a simple interest of Rs 2000 at 4% per annum?
- A. 8 years
- B. 5 years
- C. 3 years
- D. 6 years
Show answer and explanation
Answer: B. 5 years
T = SI × 100 / (P × R) = 2000 × 100 / (10,000 × 4) = 5 years.
- At 4% per annum simple interest, a sum earns Rs 480 in 2 years. Find the sum.
- A. Rs 6000
- B. Rs 4200
- C. Rs 6600
- D. Rs 7800
Show answer and explanation
Answer: A. Rs 6000
P = SI × 100 / (R × T) = 480 × 100 / (4 × 2) = Rs 6000.
- What amount will Rs 4000 become in 5 years at 5% per annum simple interest?
- A. Rs 4500
- B. Rs 6500
- C. Rs 3500
- D. Rs 5000
Show answer and explanation
Answer: D. Rs 5000
SI = 4000 × 5 × 5/100 = 1000. Amount = 4000 + 1000 = Rs 5000.
- Find the simple interest on Rs 6000 at 9% per annum for 9 months.
- A. Rs 365
- B. Rs 405
- C. Rs 325
- D. Rs 412
Show answer and explanation
Answer: B. Rs 405
SI = 6000 × 9 × (9/12) / 100 = Rs 405.