Type 1 Basic Simple Interest Using Formula Practice Questions Answers Test With Solutions & More Shortcuts
SIMPLE INTEREST PRACTICE TEST [6  EXERCISES]
Type 1 Basic Simple Interest Using Formula
Type 2 Increase Or Decrease In Interest Rate
Type 3 Money Multiples In ‘n’ Years
Type 4 Difference & Equality Of Si Rate & Years
Type 5 Si On ‘n’ Years & ‘x/y ‘of Sum
Type 6 Si With Ratios
Question : 1 [SSC SAS 2010]
A lent Rs.5000 to B for 2 years and Rs.3000 to C for 4 years on simple interest at the same rate of interest and received Rs.2200 in all from both as interest. The rate of interest per annum is
a) 5%
b) 7%
c) 10%
d) 7$1/8$%
Answer »Answer: (c)
Using Rule 1,
Let the rate of interest per annum be r%
According to the question,
${5000 × 2 × r}/100 + {3000 × 4 × r}/100 = 2200$
100r + 120r = 2200
220 r = 2200
r = $2200/220$ = 10%
Question : 2 [SSC CGL Prelim 2003]
Rs.500 was invested at 12% per annum simple interest and a certain sum of money invested at 10% per annum simple interest. If the sum of the interest on both the sum after 4 years is Rs.480, the latter sum of money is :
a) Rs.750
b) Rs.450
c) Rs.550
d) Rs.600
Answer »Answer: (d)
Using Rule 1,
Simple interest gained from Rs.500
= ${500 × 12 × 4}/100$ = Rs.240
Let the other Principal be x.
S.I. gained = Rs.(480  240) = Rs.240
${x × 10 × 4}/100$ = 240
$x = {240 × 100}/40$ = Rs.600
Question : 3 [SSC CGL Prelim 2003]
A certain sum of money amounts to Rs.756 in 2 years and to Rs.873 in 3$1/2$ years at a certain rate of simple interest. The rate of interest per annum is
a) 11%
b) 10%
c) 13%
d) 12%
Answer »Answer: (c)
S.I. for 1$1/2$ years
= Rs.(873  756) = Rs.117
S.I. for 2 years
= Rs.$(117 × 2/3 × 2)$ = Rs.156
Principal = 756  156 = Rs.600
Now, P = 600, T = 2, S.I. = 156
R = ${100 × S.I.}/{P × T}$
= ${100 × 156}/{600 × 2}$ = 13%
Using Rule 12,
Rate of interest
= $({A_1  A_2}/{A_2T_1  A_1T_2})$ × 100
= $({756  873}/{873 × 2  756 × 7/2}) × 100$
= $({ 117}/{1746  2646}) × 100$
= $({ 117}/{ 900})$ × 100 = 13%
Question : 4 [SSC CGL Prelim 2005]
A man had Rs.16,000, part of which he lent at 4% and the rest at 5% per annum simple interest. If the total interest received was Rs.700 in one year, the money lent at 4% per annum was
a) Rs.8,000
b) Rs.12,000
c) Rs.6,000
d) Rs.10,000
Answer »Answer: (d)
Using Rule 1,
Let the sum lent at 4% = Rs.x
Amount at 5%= (16000  x )
According to the question,
${x × 4 × 1}/100 + {(16000  X) × 5 × 1}/100$ = 700
4x + 80000  5x = 70000
x = 80000  70000 = Rs.10000
Question : 5 [SSC CGL Prelim 2000]
A sum of Rs.1600 gives a simple interest of Rs.252 in 2 years and 3 months. The rate of interest per annum is:
a) 8%
b) 5$1/2$%
c) 6%
d) 7%
Answer »Answer: (d)
Using Rule 1,
Principal (P) = Rs.1600
T = 2 years 3 months
= $(2 + 3/12) yrs. = (2 + 1/4) yrs. = 9/4 yrs.$
S.I = Rs.252
R = % rate of interest per annum
R = ${100 × S.I.}/{P × t}$
= ${100 × 252}/{1600 × 9/4}$
Rate of interest = 7% per annum.
IMPORTANT QUANTITATIVE APTITUDE EXERCISES

Top 999+ Basic Simple Interest MCQ for BANK SSC UPSC Exam »

New 899+ Simple Interest Questions For BANK & IBPS Exams »

Top 799+ Simple Interest Aptitude Questions Answers Test »

Top 999+ Aptitude Simple Interest MCQ: SSC Practice Test »

Top 799+ Simple Interest Question and Answer Test for SSC »

New 750+ Simple Interest MCQ with Ratios For All BANK SSC »
Type 1 Basic Simple Interest Using Formula Shortcuts »
Click to Read...Type 1 Basic Simple Interest Using Formula Online Quiz
Click to Start..SIMPLE INTEREST SHORTCUTS AND TECHNIQUES WITH EXAMPLES

Type 1 Basic Simple Interest Using Formula
Defination & Shortcuts … 
Type 2 Increase Or Decrease In Interest Rate
Defination & Shortcuts … 
Type 3 Money Multiples In ‘n’ Years
Defination & Shortcuts … 
Type 4 Difference & Equality Of Si Rate & Years
Defination & Shortcuts … 
Type 5 Si On ‘n’ Years & ‘x/y ‘of Sum
Defination & Shortcuts … 
Type 6 Si With Ratios
Defination & Shortcuts …
QUANTITATIVE APTITUDE CATEGORIES

» Number System

» Average

» LCM & HCF

» Percentage

» Profit & Loss

» Time & Work

» Pipes & Cisterns

» Time & Distance

» Trains

» Compound Interest

» Simplification

» Discount

» Power

» Permutations & Combination

» Ratio & Proportion

» Advance Math

» Algebraic Expressions

» Trigonometric Ratios & Identities

» Simple Interest

» Alligation & Mixtures

» Boats & Streams

» Set Theory

» Linear Equations

» Quadratic Equations

» Mensuration

» Squareroots & Cuberoots

» Data Sufficiency

» Logarithm

» Probability

» Statistics
RECENT BLOGS
Recently Added Subject & Categories For All Competitive Exams
Alphabet and Number Arrangement Best Exercises PDF IBPS
Alphabet and Number Arrangement Multiple Choice Questions and detailed solutions, download PDF for IBPS. Aptitude Objective Practice Exercises for Banking
Continue Reading »
Sequential Test Best Practices Exercises PDF for IBPS
Best Sequential Test Multiple Choice Questions and detailed solutions, download PDF for IBPS. Aptitude MCQ Objective type Practice Exercises for Banking
Continue Reading »
Direction and Distance Sense Test Model Exercises IBPS
Direction and Distance Sense Test Multiple Choice Questions and detailed solutions, download PDF for IBPS. Verbal Reasoning practice exercises for Banking
Continue Reading »
New 100+ Blood Relation Reasoning MCQ PDF for IBPS
Get Blood Relations Multiple Choice Questions and detailed solutions, download PDF for IBPS. Reasoning practice exercises for Banking, Competitive exam
Continue Reading »