Simple Interest Pdf Model Questions & Answers, Practice Test for ssc mts tier 1 2024

Question :1

Mr. Bajaj invested $1/7$ of his total investment at 4% and $1/2$ at 5% and rest at 6% for the one year and received total interest of Rs. 730. What is the total sum invested?

Answer:(b)

Let the principal be x, then

$(x/7 × 4 + x/2 × 5 + {5x}/14 × 6)/100 = 730$

⇒ x = 14000

Alternatively : Go through suitable options. Choose any middlemost option so that if the choosen option is not correct, then you can determine that whether you have to increase or decrease the value of the choices given.

Question :2

Vishwas borrowed a total amount of Rs. 30,000 part of it on simple interest, rate of 12 p.c.p.a. and remaining on simple interest rate of 10 p.c.p.a. If at the end of 2 years he paid in all Rs. 36.480 to settle the loan amount, what was the amount borrowed at 12 p.c.p.a.?

Answer: (d)

Question :3

A sum of Rs. 16800 is divided into two parts. One part is lent at the simple interest of 6% per annum and the other at 8% per annum. After 2 years total sum received is Rs. 19000. The sum lent at 6% of simple interest is

Answer: (c)

Question :4

Mohan borrowed Rs.18,000 at 10% p.a. simple interest and then lend it to Sohan at 10% C.I. After 3 years he will earn a profit of

Answer: (c)

SI = ${18000 × 10 × 3}/100$ = 5400

Amt = 18000$(1 + 10/100)^3$ = 23958

CI = 23958 – 18000 = 5958

Profit = 5958 – 5400 = 558

Question :5

S.I. accured on an amount in 8 years at the rate of 12 p.c.p.a is Rs.5520. What is the principal ?

Answer: (c)

Principal = ${SI × 100}/{R × T} = {5520 × 100}/{12 × 8} = 5750$

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