Simple Interest Aptitude Test Paper 2

6.) A sum invested at the rate of interest 5% S.I grows to Rs. 5400 in 4 years. The same amount in 3 years at the rate of 10% per annum S.I will grow to

Rs. 5850
Rs. 5800
Rs. 5750
Rs. 5700

The Correct answer is (A)

Answer with explanation:

Let the sum be Rs. X

Amount = Rs. 5400

Number of years = 4

Rate of interest = 5%

R = 10%

T = 3 years

P= Rs. 4500

7.) A sum of money at simple interest becomes Rs. 3000 in 2 years and Rs. 3540 in 5 years. Find the rate of interest.

4 %
4.5 %
5%
6%

The Correct answer is (D)

Answer with explanation:

After two years the amount is 3000 and in the next three years it becomes Rs. 3540.

So, we have:

P = Rs. 3000

Amount = Rs. 3540

Interest = 3540 - 3000 = 540

Number of years = 3 years

Rate of interest =?

8.) A moneylender charges Rs. 180 as simple interest on a sum of Rs. 600 for four months. What is the rate of interest per annum?

The Correct answer is (C)

Answer with explanation:

Principal = Rs. 600

Interest = Rs. 180

9.) A sum of money amounts to 3300 in 2 years and Rs. 3600 in 5 years. What is the principal amount?

Rs. 2700
Rs. 2850
Rs. 2950
Rs. 3100

The Correct answer is (D)

Answer with explanation:

After two years the amount is Rs. 3300 and in the next three years it becomes Rs. 3600.

Therefore, S.I for three years = 3600 -3300 = 300

S.I for one year = 300/( 3 ) = 100

S.I for two years = 100 * 2 = 200

Principal = 3300 - 200 = Rs. 3100

10.) An agent allows a rebate of 4% to an investor while the bank pays an interest of 14% on the investment. What is the actual rate of interest earned by the investor on his investment?