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 : 16 [SSC CGL Prelim 2005]
A person borrows Rs.5,000 for 2 years at 4% per annum simple interest. He immediately lends it to another person at 6$1/4$% per annum simple interest for 2 years. His gain in the transaction is
a) Rs.450
b) Rs.112.50
c) Rs.150
d) Rs.225
Answer »Answer: (d)
Using Rule 1,
Case I :
S.I. = ${5000 × 2 × 4}/100$ = Rs.400
Case II :
S.I. = ${5000 × 25 × 2}/{100 × 4}$ = Rs.625
Gain = Rs.(625 - 400) = Rs.225
Question : 17 [SSC DEO 2009]
In how many years will a sum of Rs.3,000 yield a simple interest of Rs.1,080 at 12% per annum ?
a) 2$1/2$ years
b) 3 years
c) 3$1/2$ years
d) 2 years
Answer »Answer: (b)
Using Rule 1,
Time = ${SI × 100}/{\text"Principal × Rate"$
= ${1080 × 100}/{3000 × 12} = 3$ years
Question : 18 [SSC CHSL 2010]
A sum of money amounts to Rs.850 in 3 years and to Rs.925 in 4 years at some rate of simple interest. The sum is :
a) Rs.600
b) Rs.550
c) Rs.700
d) Rs.625
Answer »Answer: (d)
Interest for 1 year
= Rs.(925 - 850) = Rs.75
If a sum becomes $a_1$ in $t_1$ years and $a_2$ in $t_2$ years then rate of interest
= ${100(a_2 - a_1)}/({a_1t_2 - a_2t_1})%$
= ${100(925 - 850)}/{850 × 4 - 3 × 925} = 7500/625$ = 12%
Principal = ${SI × 100}/{\text"Time × Rate"$
= ${75 × 100}/{1 × 12}$ = Rs.625
Using Rule 12,
P = $({A_2T_1 - A_1T_2}/{T_1 - T_2})$
= ${925 × 3 - 850 × 4}/{3 - 4}$
= ${2775 - 3400}/{-1}$
= ${- 625}/{- 1}$ = Rs.625
Question : 19 [SSC CPO S.I.2008]
A sum of money at some rate of simple interest amounts to Rs.2,900 in 8 years and to Rs.3,000 in 10 years. The rate of interest per annum is
a) 2$1/2$%
b) 4%
c) 2%
d) 3%
Answer »Answer: (c)
Principal + interest for 8 years= Rs.2900... (i)
Principal + interest for 10 years = Rs.3000 ... (ii)
Subtracting equation (i) from (ii)
Interest for 2 years = Rs.100
Interest for 8 years
= $100/2 × 8$ = Rs.400
From equation (i),
Principal = Rs.(2900 - 400) = Rs.2500
Rate = ${S.I × 100}/{\text"Time × Principal"}$
= ${400 × 100}/{8 × 2500} = 2%$
Using Rule 12,
R = $({A_1 - A_2}/{A_2T_1 - A_1T_2})$ × 100
= $({2900 - 3000}/{3000 × 8 - 2900 × 10})$ × 100
=$({- 100}/{24000 - 29000}) × 100$
= ${-100}/{-5000}$ × 100 = 2%
Question : 20 [SSC CGL Prelim 2003]
A lends Rs.2500 to B and a certain sum to C at the same time at 7% annual simple interest. If after 4 years, A altogether receives Rs.1120 as interest from B and C, the sum lent to C is
a) Rs.6500
b) Rs.700
c) Rs.1500
d) Rs.4000
Answer »Answer: (c)
Using Rule 1,
Let the sum lent to C be x
According to the question,
${2500 × 7 × 4}/100 + {x × 7 × 4}/100 = 1120$
or 2500 × 28 + 28x = 112000
or 2500 + x = 4000
or x = 4000 - 2500 = 1500
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 Aptitude Model Test SSC
Alphabet and Number Arrangement objective Questions with detailed answers, PDF. Aptitude 50+ Practice MCQ exercises for SSC, all competitive, Bank Exams
Continue Reading »
SSC Direction and Distance Sense MCQ Practice Exercise
Top Direction and Distance Sense objective questions with answers, PDF for SSC. 100+ Aptitude practice exercises for all Bank, Govt, and Competitive Exams
Continue Reading »
100+ Blood Relation Aptitude Test Online, PDF for SSC
Top Blood Relation objective questions with answers, download PDF for SSC. 100+ Aptitude online practice exercises for all Bank, Govt, and Competitive Exams
Continue Reading »
Top 100+ English Jumbled Sentences MCQ with PDF for RBI
Very important Jumbled Sentences questions with answers PDF for RBI. 100+ General English practice exercises for all Bank, Govt, and Competitive Exams
Continue Reading »