Simple Interest Aptitude Test Paper 26.) 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
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.
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?
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?
The Correct answer is (A) Answer with explanation: Let the investor invests Rs. 100 Rebate given = 4% So, the actual investment = 100  4 = 96 The bank pays interest of 14% on the investment which is Rs. 100 without rebate and Rs. 96 with rebate. Aptitude Simple Interest Test Paper 1 Simple Interest Concepts
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