Simple Interest related aptitude questions for SBI bank exams. Simple interest calculation formula for bank exams. Easy tricks to calculate simple interest.
1. How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?
A. 3.5 years
B. 4 years
C. 4.5 years
D. 5 years
2. A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?
A. 3%
B. 4%
C. 5%
D. 6%
E. None of these
3. A sum of Rs. 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both the loans. What was the original rate of interest?
A. 3.6%
B. 4.5%
C. 5%
D. 6%
E. None of these
4. A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 6 1/4 p.a for 2 years. Find his gain in the transaction per year.
A. Rs. 112.50
B. Rs. 125
C. Rs. 150
D. Rs. 167.50
5. What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?
A. 1 : 3
B. 1 : 4
C. 2 : 3
D. Data inadequate
E. None of these
6. Mr. Thomas invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B?
A. Rs. 6400
B. Rs. 6500
C. Rs. 7200
D. Rs. 7500
E. None of these
7. An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes:
A. 10%
B. 10.25%
C. 10.5%
D. None of these
8. A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is:
A. Rs. 650
B. Rs. 690
C. Rs. 698
D. Rs. 700
9. A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum?
A. Rs. 4462.50
B. Rs. 8032.50
C. Rs. 8900
D. Rs. 8925
E. None of these
10. A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:
A. Rs. 2000
B. Rs. 10,000
C. Rs. 15,000
D. Rs. 20,000
Answers:
1. B 2. D 3. E 4. A 5. C
6. A 7. B 8. C 9. D 10. C
1. How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?
A. 3.5 years
B. 4 years
C. 4.5 years
D. 5 years
2. A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?
A. 3%
B. 4%
C. 5%
D. 6%
E. None of these
3. A sum of Rs. 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both the loans. What was the original rate of interest?
A. 3.6%
B. 4.5%
C. 5%
D. 6%
E. None of these
4. A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 6 1/4 p.a for 2 years. Find his gain in the transaction per year.
A. Rs. 112.50
B. Rs. 125
C. Rs. 150
D. Rs. 167.50
5. What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?
A. 1 : 3
B. 1 : 4
C. 2 : 3
D. Data inadequate
E. None of these
6. Mr. Thomas invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B?
A. Rs. 6400
B. Rs. 6500
C. Rs. 7200
D. Rs. 7500
E. None of these
7. An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes:
A. 10%
B. 10.25%
C. 10.5%
D. None of these
8. A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is:
A. Rs. 650
B. Rs. 690
C. Rs. 698
D. Rs. 700
9. A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum?
A. Rs. 4462.50
B. Rs. 8032.50
C. Rs. 8900
D. Rs. 8925
E. None of these
10. A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:
A. Rs. 2000
B. Rs. 10,000
C. Rs. 15,000
D. Rs. 20,000
Answers:
1. B 2. D 3. E 4. A 5. C
6. A 7. B 8. C 9. D 10. C
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