# Quant Questions Simple Interest Set-1

Important Aptitude Questions for Upcoming IBPS PO-V Exam was given here with solutions, candidates those who are preparing for those exams can use this material.

1). If the rate of interest per annum increase from 8 1/3 % to 9 3/8 % then a personโs annual income from interest increases by Rs.100. What was the amount invested?
a)ย ย ย Rs.9600
b)ย ย ย Rs.8000
c)ย ย ย Rs.8400
d)ย ย ย Rs.10,000

2).The simple interest on a sum of money is ยผ of the Principal and the number of years is equal to the rate percent annum. What is the rate per cent annum is

a)ย ย ย 6%
b)ย ย ย 5%
c)ย ย ย 7 ยฝ%
d)ย ย ย 5 ยฝ%

3).A sum lent at 7% per annum will produce as much as simple interest in 2 years as Rs.1750. lent at 55 will produce in 4 years. Find the sum

a)ย ย ย Rs.1600
b)ย ย ย Rs.1800
c)ย ย ย Rs.2500
d)ย ย ย Rs.2400

4).How long will Rs.1320 take to yield Rs.198 simple interest at 2 ยฝ% per annum.
a)ย ย ย 2 years
b)ย ย ย 3 years
c)ย ย ย 6 years
d)ย ย ย 10 years

5).The simple interest on a sum of money is (1/9) of principal and the number of years equal to the rate percent per annum. What is the rate percent per annum.
a)ย ย ย 2 1/3%
b)ย ย ย 2 2/3%
c)ย ย ย 3%
d)ย ย ย 3 1/3 %

6).Calculate the compound interest for Rs.1000 at 5% compound interest for 2 years.
a)ย ย ย Rs.102.50
b)ย ย ย Rs.105
c)ย ย ย Rs.109
d)ย ย ย Rs.109.25

7).Find the compound interest for Rs.1000 at 10% for 1 ยฝ years when interest is accounted at every six mouths.
a)ย ย ย Rs.1150
b)ย ย ย Rs.1158
c)ย ย ย Rs.160
d)ย ย ย Rs.167

8). A sum yields interest of Rs.3783 in 3 years at 5% per annum of compound interest. What is the sum?
a)ย ย ย Rs.8000
b)ย ย ย Rs.10, 800
c)ย ย ย Rs.24, 000
d)ย ย ย Rs.10, 000

9). A sum of Rs.16400 is borrowed to be paid back in 2 years by equal payments allowing 5% compound interest. Find the annual payment.

a)ย ย ย Rs.8820
b)ย ย ย Rs.7600
c)ย ย ย Rs.7620
d)ย ย ย Rs.8620

10). Rs.800 at 5% per annum compound interest amounts to Rs.882. What is the period?
a)ย ย ย 3 years
b)ย ย ย 2 years
c)ย ย ย 4 years
d)ย ย ย 10 years

Answers:ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย
1). a) 2). b) 3). c) 4). c) 5). d) 6). a) 7). b) 8). c) 9). a)10). b)
FORMULAE

SIMPLE INTEREST:

1.ย ย ย ย I=PNR/100
ย ย ย ย ย  I=Interest P=Principal N=Number of years
2.R=100 I/PN
3.N=100 I/PR
4.P=100 I/NR

5.Total Amount (A)=Principal+Interest

Check here the Solution for above Aptitude Questions:
ย
1). Rate of Interest increase from 8 1/3 to 9 3/8
Proportionately the interest increases by Rs.100
(9 3/8 โ 8 1/3)% = Rs.100;ย
(75/8 – 25/3)% = Rs.100
25/24%=Rs.100
โด100% = [ 100ร24 /25 ]ร100 =Rs.9600
The amount invested was Rs.9600
2). Let the principal be Rs.100
No of years =Rate percent =r(given)ย
โดI = 100/4
100/4 = (100รrรr) /100 = r2
r2 =25;ย
r=5%
3).ย I. Principal =Rs.1750
R=5%, N=4 years
โดSimple interest= (1750ร4ร5) /100 = Rs.350
II. Simple interest =Rs.350
N=2 years, R=7%
=Rs.2500/-
4). I = PNR/100
198 = (1320รNร5) / (2ร100)ย
198 = 33N
N = 198/33 = 6 YEARS
5). Let the principal be 100.ย
No. of years = Rate per cent = r
โด I = 100/9
โด100/9 = (100รrรr) / 100 = r2
โดr2=100/9,ย
r =10/3ย
r=3 1/3%
6). Amount =1000(1+ 5/100)2
โ100(105/100)2 =1000 ร 21/20 ร 21/20
โ (5ร21ร21) /2 = Rs.1102.50
โดCompound interest =Rs.1102.50 -1000 =Rs.102.50
7). P=Rs.1000; r=10% for 6 months = 5% time =1 ยฝ years
=3 times of 6 months
(โดinterest is calculated at every 6 months)ย
โดA=1000(1+ 5/100)2
=1000 ร (105/100)2
=1000 ร (21/20)2
โ1000 ร 1.157 =1158
8). Let 100 be the principal R=5%, n=3 years, โดAmount =100(1+ r/100)3 =100 ร (1+ 5/100)3
โ100(1+ r/100)3 =100 ร 21/20 ร 21/20 ร 21/20 = 9261/80v โดCompound interest = Rs.9261/80 – 100 = Rs.1261/80
If the interest is Rs.1261/80, the sum is Rs.100
If the interest is Rs.3783, the sum is = [(100ร80) /1261] ร 3783
โ Rs.100ร80ร3 =Rs.24000
9). Let x be the instalment amount Interest = 5% i.e 1+ r/100 = 1+ 5/100 = 21/20
Present value of Rs.x due 1 year =x/21/20
Present value of Rs.x due at the 2 years = x / (21/20)2
โด {x / (21/20)} + { x / (21/20)2 } = 16400
20x / 21 + 400x / 441 = 16400
x(420+400)=16400ร441
โดx=16400ร441/820
โดx=Rs.8820
โดThe annual payment =Rs.8820
10). 882=800(1+5/100)n:882/800 =(21/20)n
882/800=2(441)/2(400) =(21/20)n
(21/20)n =(21/20)2
โดn=2

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