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

The simple and compound interest that can be earned in two years at the same rate is Rs 1,000 and Rs 1,040 respectively. What is the rate (percent per annum) of interest?

A) 9	B) 10
C) 8	D) 11

A) 9

B) 10

C) 8

D) 11

Answer & Explanation Answer: C) 8

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

3 1073

At 6% simple interest per annum a sum of money became Rs. 834 in 6.5 years. The sum initially invested was

A) Rs. 600	B) Rs. 626
C) Rs. 675	D) Rs. 650

A) Rs. 600

B) Rs. 626

C) Rs. 675

D) Rs. 650

Answer & Explanation Answer: A) Rs. 600

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

1 1073

What is the ratio of simple interest earned on certain amount at the rate of 12% for 6 years and that for 12 years?

A) 1:2	B) 2:3
C) 3:4	D) 4:5

A) 1:2

B) 2:3

C) 3:4

D) 4:5

Answer & Explanation Answer: A) 1:2

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

6 1070

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.

A) 16:15	B) 10:9
C) 45:50	D) 5:8

A) 16:15

B) 10:9

C) 45:50

D) 5:8

Answer & Explanation Answer: B) 10:9

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

4 1065

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 1056

A man purchased a cycle for Rs.3000/- and agreed to pay 12% on the amount as interest. He repaid principal and interest in 12 equal monthly installments. Find the amount of each installment.

A) Rs. 260	B) Rs. 240
C) Rs. 280	D) Rs. 300

A) Rs. 260

B) Rs. 240

C) Rs. 280

D) Rs. 300

Answer & Explanation Answer: C) Rs. 280

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

2 1049

The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 12% per annum is Rs 72. What is the value of given sum (in Rs)?