Free Q&A
Aptitude and Reasoning
General Knowledge
Puzzles
Interviews
Technical
Certifications
Exams
Job Roles
True or False

Login

Forgot Password?

Home/
Aptitude and Reasoning/
Quantitative Aptitude - Arithmetic Ability/
Simple Interest

Simple Interest Questions

Popular Latest Rated Important Formulae

FACTS AND FORMULAE FOR SIMPLE INTEREST QUESTIONS

1. Principal: The money borrowed or lent out for a certain period is called the principal or the sum.

2. Interest: Extra money paid for using other's money is called interest

3. Simple Interest (S.I.) : If the interest on a sum borrowed for a certain period is reckoned uniformly, then it is called simple interest.

Let Principal = P, Rate = R% per annum (p.a.) and Time = T years. Then,

(i) $S . I = (\frac{P \times T \times R}{100})$

(ii) $P = (\frac{100 \times S . I}{R \times T}); R = (\frac{100 \times S . I}{P \times T}) a n d T = (\frac{100 \times S . I}{P \times R})$

There is 40% increase in an amount in 8 years at simple interest. What will be the compound interest of Rs. 10000 after 3 years at the same rate?

A) Rs 1576.25	B) Rs 6305
C) Rs 7881.25	D) Rs 4728.75

A) Rs 1576.25

B) Rs 6305

C) Rs 7881.25

D) Rs 4728.75

Answer & Explanation Answer: A) Rs 1576.25

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

4 1379

R borrowed Rs. 1,200 at 13% per annum simple interest. What amount will R pay to clear the debt after 5 years?

A) Rs.1,860	B) Rs.1,800
C) Rs.1,980	D) Rs.2,000

A) Rs.1,860

B) Rs.1,800

C) Rs.1,980

D) Rs.2,000

Answer & Explanation Answer: C) Rs.1,980

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: AIEEE , Bank Exams

8 1365

There is 40% increase in an amount in 10 years at simple interest. What will be the compound interest of Rs 25000 after 2 years at the same rate?

A) Rs 4080	B) Rs 5100
C) Rs 3060	D) Rs 2040

A) Rs 4080

B) Rs 5100

C) Rs 3060

D) Rs 2040

Answer & Explanation Answer: D) Rs 2040

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

0 1362

If a sum of money doubles itself in 8 yrs, then the interest rate in percentage is ?

A) 8 1⁄2%	B) 10%
C) 10 1⁄2 %	D) 12 1⁄2 %

A) 8 1⁄2%

B) 10%

C) 10 1⁄2 %

D) 12 1⁄2 %

Answer & Explanation Answer: D) 12 1⁄2 %

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

2 1354

Alipta got some amount of money from her father. In how many years will the ratio of the money and the interest obtained from it be 10:3 at 6% simple interest per annum?

A) 7 years	B) 3 years
C) 5 years	D) 4 years

A) 7 years

B) 3 years

C) 5 years

D) 4 years

Answer & Explanation Answer: C) 5 years

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

3 1350

A person borrows some money for 8 years at a rate of simple interest. If the ratio of principal and total interest is 5 : 8, then what is the rate ( inpercentage) of interest?

A) 10	B) 20
C) 25	D) 30

A) 10

B) 20

C) 25

D) 30

Answer & Explanation Answer: B) 20

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

1 1347

Rs. x invested at 9% simple interest per annum for 5 years yields the same interest as that on Rs. y invested at 6.25% simple interest per annum for 8 years. Find x:y.