Aptitude - Simple Interest

Exercise :: Simple Interest - General Questions

11. 

A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:

A. 5%
B. 8%
C. 12%
D. 15%

Answer: Option C

Explanation:

S.I. for 3 years = Rs. (12005 - 9800) = Rs. 2205.

S.I. for 5 years = Rs. 2205 x 5 = Rs. 3675
3

Principal = Rs. (9800 - 3675) = Rs. 6125.

Hence, rate = 100 x 3675 % = 12%
6125 x 5

Video Explanation: https://youtu.be/UYwiBCRN39s


12. 

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

Answer: Option C

Explanation:

Let the principal be P and rate of interest be R%.

Required ratio =
P x R x 6
100
= 6PR = 6 = 2 : 3.
P x R x 9
100
9PR 9

Video Explanation: https://youtu.be/GaaEDwTWc6w


13. 

A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned?

A. Rs. 35
B. Rs. 245
C. Rs. 350
D. Cannot be determined
E. None of these

Answer: Option D

Explanation:

We need to know the S.I., principal and time to find the rate.

Since the principal is not given, so data is inadequate.


14. 

A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 6% p.a for 2 years. Find his gain in the transaction per year.

A. Rs. 112.50
B. Rs. 125
C. Rs. 225
D. Rs. 167.50

Answer: Option A

Explanation:

Gain in 2 years
= Rs. 5000 x 25 x 2 - 5000 x 4 x 2
4 100 100
= Rs. (625 - 400)
= Rs. 225.

Gain in 1 year = Rs. 225 = Rs. 112.50
2

Video Explanation: https://youtu.be/zBjcwqIcmL4


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