Simple Interest Questions for Bank Clerk Pre Exams.
Simple Interest Quiz 8
Directions: Kindly study the following Questions carefully and choose the right answer:
1. Virat has Rs. 9000. He gives this money to Mahendra on simple interest and after 4 years
received the double amount. If the interest rate is 5% more than the previous, in how many
years this amount will be doubled?
A. 3 years B. 3 years C. 2 years D. 3 years E. None of these
2. Shubhranshu deposited Rs 8000 at simple interest which amounted to Rs 9200 after 3
years. Had the interest been 2% more, how much amount she would have got?
A. Rs 1680 B. Rs 9680 C. Rs 9272 D. Rs 2680 E. None of these
3. Rajat lends Rs. 20,000 to two of his friends. He gives Rs.10,000 to the first at 15% p.a.
simple interest. Rajat wants to make a profit of 20% on the whole. The simple interest rate
at which he should lend the remaining sum of money to the second friend is
A. 12% B. 16% C. 20% D. 25% E. None of these
4. The SI on certain sum of money for 23 months at the rate of 7% per annum exceeds the SI
on the same sum at 7% per annum for 19 months by Rs. 672. Then find the sum
A. Rs. 16800 B. Rs. 28800 C. Rs. 24400 D. Rs. 18600 E. None of these
5. The simple interest on a sum of money will be Rs. 500 after 10 years. If the principal is
made four times after 5 years, what will be the total interest at the end of the tenth year?
A. Rs. 650 B. Rs. 975 C. Rs. 1250 D. Rs. 1500 E. None of these
6. Ravi invested Rs. 6000 in a scheme for 3 years which promised a certain percentage of
simple interest on the sum. The interest offered was 5% for the first year, 7% for the second
year and 9% for the third year. What was the amount that Ravi got after 3 years?
A. 7180 B. 7260 C. 7490 D. 7630 E. None of these
7. 12000 is divided into two amounts such that the simple interest on the first amount for 3
years at the rate 4% is equal to the simple interest on the second amount for 4 year at the
rate 1%. What are the amounts?
A. 4000, 8000 B. 6000, 6000 C. 3000, 9000 D. 5000, 7000 E. None of these
8. A sum of 6400 was subdivided into two investments schemes in such a way that one part
was lent at 6% simple interest and the second part was lent at 9% simple interest. If the
interest on the second part after 6 years is equal to interest on the first part after 3 years.
What is the first part.
A. 1200 B. 1400 C. 1800 D. 2300 E. 4800
9. In how many years will Rs. 12680 amounts to Rs. 35504 at a simple interest of 15% per
annum?
A. 15 years B. 13 years C. 12 years D. 11 years E. 14 years
10. Seema has Rs. 5200 and she gives some money to Sumit at 8% p.a. on simple interest for
3 years and rest money to Seeta at a 5% p.a on simple interest for 2 years. If Seema get Rs.
688 of interest find the ratio between the money of Sumit and Seeta.
A. 20 : 7 B. 3 : 10 C. 5 : 4 D. 4 : 3 E. None of these
Correct Answers:
1 2 3 4 5 6 7 8 9 10
D B D B C B C E C B
Explanations:
1.
P×r×t
S.I. =
100
9000 × r × 4
9000 =
100
r = 25%
New rate = 25 + 5 = 30%
9000 = 9000 × 30% × t
1
t = 3 years
3
Hence, option D is correct.
.
2. Amount = simple interest + principal
⇒ 9200 = simple interest + 8000
⇒ simple interest = 9200 – 8000
= Rs 1200
if r % be the rate of interest,
principal × rate% × time
Then from, simple interest =
100
8000 × r × 3
1200 =
100
⇒ r = 5%
2% more interest that is 7% interest
8000 × 7 × 3
simple interest =
100
= Rs 1680
thus amount he will get is Rs 8000 + Rs 1680 = Rs 9680
Hence, option B is correct.
3. Let Rajat lend the sum at x% rate to the second friend.
According to the question,
15% × 10000 + x% of 10000 = 20% of 20000
⇒ 15 × 100 + 100x = 20 × 200
⇒ 100x = 4000 – 1500
⇒ 100x = 2500 ⇒ x = 25
Hence, the required rate of interest is 25% p.a.
Therefore, Option D is correct.
4. Let the sum be P.
P × 7 × 23 P × 7 × 19
Then, – = 672
12 × 100 12 × 100
or, 161P – 133P = 672 × 100 × 12
672 × 100 × 12
∴ P= = Rs. 28800
28
Hence, option (B) is correct.
5. Given that:
Simple interest for 10 years = Rs, 500
Therefore, SI for 1 year = Rs, 50
Therefore, SI for 5 years = Rs. 250
Now, if the principal is made four times, the interest will also become four times.
Therefore, SI for next 5 years = Rs, 250 x 4 = Rs, 1000
Hence, total interest after 10 years = 250 + 1000 = Rs, 1250
Therefore, option (C) is correct.
6. Total percentage charges on a sum over the years = 5% + 7% + 9% = 21%
Hence, Ravi will get total amount = (100 + 21) % of 6000 = 121% of 6000 = 7260.
Therefore, option (B) is correct.
7. Let the amounts be x and 12000 – x
Simple interest in 3 years at rate for 4% will be 12%
Similarly, at the rate of 1% it will be 4% in 4 years
Since the interests earned are equal, we can write the equation as:
12% of x = 4% of (12000 – x)
Solving the above equation we get, x = 3000
So, the amounts are 3000 and (12000 – 3000) = 9000
Hence, option (C) is correct.
8. Let the first part be X then second part would be (6400 – X)
Now, SI on first part after 3 years = SI on second part after 6 years
P×R×T
Using the formulae SI =
100
We get,
X × 3 × 6 (640 – X) × 9 × 6
=
100 100
On simplifying we get,
X = 6400 × 3 – 3X
4X = 6400 × 3
X = 4800
Hence, option E is correct.
9. S.I. = 35504 – 12680 = Rs. 22824
P×R×T
∴ SI =
100
12680 × 15 × T
∴ 22824 =
100
∴ T = 12 years
Hence, option C is correct.
10. Let Seema gives Rs. X to Sumit and 5200 – X to Seeta.
Now, as per the question,
[X × 0.08 × 3] + [(5200 – X) × (0.05 × 2)] = 688
0.24X + 520 – 0.1X = 688
0.14X + 520= 688
x = (688 – 520) ÷ 0.14
x = 168 ÷ 0.14
x = 1200
2nd part = 5200 – 1200 = 4000 Rs.
Reqd. ratio = 1200 : 4000 = 3 :10
Hence, option B is correct.
