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Quant – Simple Interest – Set 9
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.
- You can take this test as many times as you like. A fresh set is drawn each time you reload the page.
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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.
- Find the simple interest on Rs 6000 at 12% per annum for 9 months.
- A. Rs 378
- B. Rs 540
- C. Rs 702
- D. Rs 486
Show answer and explanation
Answer: B. Rs 540
SI = 6000 × 12 × (9/12) / 100 = Rs 540.
- A sum amounts to Rs 9280 in 2 years and to Rs 9920 in 3 years at simple interest. Find the sum.
- A. Rs 5600
- B. Rs 8000
- C. Rs 7200
- D. Rs 9600
Show answer and explanation
Answer: B. Rs 8000
Interest for 1 year = 9920 - 9280 = 640, so one year = 640. Sum = 9280 - 2 × 640 = Rs 8000.
- A man borrows Rs 5000 at 5% per annum and lends it at 9% per annum, both at simple interest. What is his gain in 4 years?
- A. Rs 1040
- B. Rs 560
- C. Rs 640
- D. Rs 800
Show answer and explanation
Answer: D. Rs 800
Gain per year = (9 - 5)% of 5000 = 200. In 4 years = Rs 800.
- A man invests Rs 25,000, part at 10% and the rest at 4% per annum simple interest. His total yearly interest is Rs 1600. How much is invested at 10%?
- A. Rs 13,000
- B. Rs 10,000
- C. Rs 11,000
- D. Rs 12,000
Show answer and explanation
Answer: B. Rs 10,000
If x is at 10%: 10x/100 + 4(25,000 - x)/100 = 1600. This gives 6x = 60,000, so x = Rs 10,000.
- Find the simple interest on Rs 12,000 at 7% per annum for 3 years.
- A. Rs 1764
- B. Rs 3024
- C. Rs 2016
- D. Rs 2520
Show answer and explanation
Answer: D. Rs 2520
SI = P × R × T / 100 = 12,000 × 7 × 3 / 100 = Rs 2520.
- A sum of Rs 2000 earns a simple interest of Rs 240 in 2 years. Find the rate of interest per annum.
- A. 5%
- B. 6%
- C. 7%
- D. 3%
Show answer and explanation
Answer: B. 6%
R = SI × 100 / (P × T) = 240 × 100 / (2000 × 2) = 6%.
- In how many years will Rs 10,000 earn a simple interest of Rs 2400 at 4% per annum?
- A. 5 years
- B. 8 years
- C. 6 years
- D. 9 years
Show answer and explanation
Answer: C. 6 years
T = SI × 100 / (P × R) = 2400 × 100 / (10,000 × 4) = 6 years.
- At 12% per annum simple interest, a sum earns Rs 1800 in 2 years. Find the sum.
- A. Rs 9750
- B. Rs 9000
- C. Rs 6750
- D. Rs 7500
Show answer and explanation
Answer: D. Rs 7500
P = SI × 100 / (R × T) = 1800 × 100 / (12 × 2) = Rs 7500.
- What amount will Rs 6000 become in 3 years at 6% per annum simple interest?
- A. Rs 6372
- B. Rs 5664
- C. Rs 7080
- D. Rs 8496
Show answer and explanation
Answer: C. Rs 7080
SI = 6000 × 6 × 3/100 = 1080. Amount = 6000 + 1080 = Rs 7080.
- Find the simple interest on Rs 12,000 at 6% per annum for 3 months.
- A. Rs 216
- B. Rs 180
- C. Rs 126
- D. Rs 144
Show answer and explanation
Answer: B. Rs 180
SI = 12,000 × 6 × (3/12) / 100 = Rs 180.