Simple Interest Aptitude Test Paper 1

1) If Suresh borrows Rs. 36000 from Mahesh at rate of interest 6% S.I, at the end of four years how much interest Suresh has to pay along with principal amount?

1. Rs. 12560
2. Rs. 12960
3. Rs. 13500
4. Rs. 14500

The Correct answer is (B)

Answer with explanation:

Principal amount = Rs. 36000

Rate of interest = 6

Number of years or time = 6 years

2) If A lends Rs. 4500 to B at 8% per annum and B lends the same sum to C at 10% per annum, find the gain of B in a period of 3 years.

1. Rs. 220
2. Rs.240
3. Rs. 250
4. Rs.270

The Correct answer is (D)

Answer with explanation:

The gain of B will be equal to the difference between the interest which C pays to D and the interest which B pays to A for the amount borrowed.

= 1350 - 1080 = Rs. 270

3) In how many years the simple interest on Rs. 6000 at 10% rate of interest S.I will become Rs. 1800?

1. 3 months
2. 3.5 months
3. 4 months
4. 4.5 months

The Correct answer is (A)

Answer with explanation:

Principal = Rs. 6000

Simple Interest = Rs. 1800

Rate of interest = 10%

Number of years or time =?

4) Sohan has borrowed Rs. 5000 at the rate of 6% S.I. what amount he needs to pay after 3 years to clear the debt?

1. Rs. 5500
2. Rs. 5900
3. Rs. 6100
4. Rs. 6300

The Correct answer is (B)

Answer with explanation:

Principal = Rs. 5000

Rate of interest= 6%

Time period = 3 years

5) In what time Rs. 6000 will give interest of Rs. 720 at the rate of 6% p.a. S.I.?

1. 1.5 years
2. 2 years
3. 2.5 years
4. 3 years

The Correct answer is (B)

Answer with explanation:

Principal = Rs. 6000

Interest = Rs. 720

Rate of interest = 6%

Time or number of years =?