Simple Interest – Aptitude Questions and Answers | Online Simple Interest MCQ Aptitude Test
| Quiz Name | Simple Interest |
| Category | Online Aptitude Test |
| Number of Questions | 20 |
| Time | 20 Minutes |
| Exam Type | MCQ (Multiple Choice Questions) |
1. A sum of money earns Rs. 815 in three years and Rs. 854 in four years at simple interest. The total is:
a. Rs. 650
b. Rs. 690
c. Rs. 698
d. Rs. 700
2. Mr. Thomas invested Rs. 13,900 in two different plans A and B, each paying a simple interest rate of 14 percent per annum and 11 percent per annum, respectively. What was the amount invested in Scheme B if the total amount of simple interest earned in two years was Rs. 3508?
a. Rs. 6400
b. Rs. 6500
c. Rs. 7200
d. Rs. 7500
3. In 5 years, a money earned a total simple interest of Rs. 4016.25 at a rate of 9 percent per annum. What’s the total?
a. Rs. 4462.50
b. Rs. 8032.50
c. Rs. 8900
d. Rs. 8925
4. How long will it take for a sum of Rs. 450 to earn Rs. 81 in simple interest at a rate of 4.5 percent per annum?
a. 3.5 years
b. 4 years
c. 4.5 years
d. 5 years
5. Reena took out a Rs. 1200 loan with simple interest for the same number of years as the interest rate. What was the rate of interest if she paid Rs. 432 in interest at the conclusion of the loan period?
a. 3.6
b. 6
c. 18
d. Cannot be determined
6. At a simple interest rate of 5%, a balance of Rs. 12,500 grows to Rs. 15,500 in four years. What is the interest rate?
a. 3%
b. 4%
c. 5%
d. 6%
7. An automotive financier claims to be lending money at simple interest, but when computing the principal, he includes the interest every six months. If he charges a ten percent interest rate, the effective rate of interest is:
a. 10%
b. 10.25%
c. 10.5%
d. None of these
8. A lent Rs. 5000 to B for two years and Rs. 3000 to C for four years on simple interest at the same rate, and received Rs. 2200 in total as interest from both of them. The annual rate of interest is:
a. 5%
b. 7%
c. 7.18%
d. 10%
9. A sum of Rs. 725 is lent at a fixed rate of interest at the start of the year. After 8 months, a further Rs. 362.50 is lent, but at a rate twice as high as before. Interest from both loans totals Rs. 33.50 at the end of the year. What was the original interest rate?
a. 3.6%
b. 4.5%
c. 5%
d. None of these
10. A man took out a loan from a bank at a basic interest rate of 12% per year. He had to pay Rs. 5400 in interest alone for the period after 3 years. He took out a loan for the following amount:
a. Rs. 2000
b. Rs. 10,000
c. Rs. 15,000
d. Rs. 20,000
11. At the same rate of simple interest, a sum of money grows to Rs. 9800 after 5 years and Rs. 12005 after 8 years. The annual rate of interest is:
a. 5%
b. 8%
c. 12%
d. 15%
12. What is the ratio of simple interest earned on a given sum for 6 years and 9 years at the same rate of interest?
a. 1 : 3
b. 1 : 4
c. 2 : 3
d. None of these
13. After 7 years, a specific sum yields Rs. 1750 in simple interest. How much more interest would it have earned if the interest rate had been 2% higher?
a. Rs. 35
b. Rs. 245
c. Rs. 350
d. Cannot be determined
14. A person borrows Rs. 5000 for two years at a simple interest rate of 4% per annum. He promptly lends it to another person for two years at 6% p.a. Find his profit in a year’s worth of transactions.
a. Rs. 112.50
b. Rs. 125
c. Rs. 225
d. Rs. 167.50
15. A sum of money earns Rs. 50 in simple interest. What’s the total?
I. The annual interest rate is 10%. II. In ten years, the money earned simple interest.
a. I alone sufficient while II alone not sufficient to answer
b. II alone sufficient while I alone not sufficient to answer
c. Either I or II alone sufficient to answer
d. Both I and II are necessary to answer
16. What is the amount that has accrued interest?
I. After 7 years, the total simple interest was Rs. 7000.
II. After 5 years, the sum plus simple interest was equal to the original payment.
a. I alone sufficient while II alone not sufficient to answer
b. I alone sufficient while I alone not sufficient to answer
c. Either I or II alone sufficient to answer
d. Both I and II are necessary to answer
17. What was the annual percentage of simple interest paid by Anand to Deepak?
I. For four years, Anand borrowed Rs. 8000 from Deepak.
II. After two years, Anand remitted Rs. 8800 to Deepak and paid off the loan.
a. I alone sufficient while II alone not sufficient to answer
b. II alone sufficient while I alone not sufficient to answer
c. Either I or II alone sufficient to answer
d. Both I and II are necessary to answer
18. What is the simple interest rate?
I. A total of Rs. 4000 in interest was earned.
II. The funds were invested for a period of four years.
a. I alone sufficient while II alone not sufficient to answer
b. II alone sufficient while I alone not sufficient to answer
c. Either I or II alone sufficient to answer
d. Both I and II are not sufficient to answer
19. What is the total amount?
I. In three years, the value totals Rs. 690 at S.I.
II. At S.I.
III, the payment totals Rs. 750 in 5 years. The interest rate is 5% per annum.
a. I and III only
b. II and III only
c. I and II only
d. Any two of the three
