Simple Interest Quiz Set 003 | Maths Aptitude Quiz Questions and Mock Test on Simple Interest Set 3 | mock tests for Bank PO, SSB/SSC Exams, SO Clerical Exam, GATE Exam, LIC AO, GIC AO, etc.

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Question 1

An amount of Rs. 2143 is split into two parts. The first part is invested @10% for 4 years, and the second @4% for 10 years. What is the ratio of the first part is to the second part if they yield the same amount of simple interest?

$1{1/40}$.

${39/40}$.

$1{1/20}$.

Soln.
Ans: a

Let the amounts be x and y. We have x × r₁ × t₁ = y × r₂ × t₂. We can see that x : y is same as r₂t₂ : r₁t₁. The ratio is (4 × 10) : (10 × 4) = 40 : 40, or same as 1. Please note that the answer is independent of the value of the total amount.

Solution | Discuss! | Chapters»

Question 2

What is the interest on Rs. 9500 @2% for 73 days starting from Jan 1, 2201?

Rs. 38.

Rs. 138.

Rs. 88.

Rs. 238.

Soln.
Ans: a

The given year is not a leap year. So it has 365 days. Since 73 X 5 = 365, t = 1/5 year. We have r = 2%, t = 1/5, P = 9500, so I = ${9500 × 2 × 1}/{5 × 100}$ = Rs. 38.

Solution | Discuss! | Chapters»

Question 3

A sum of Rs. 1900 is split into two parts. The first part is invested at 8% p.a. and the second at 6% p.a. What is the amount invested at 8% if the total simple interest at the end of 5 years is Rs. 620?

Rs. 500.

Rs. 600.

Rs. 400.

Rs. 700.

Soln.
Ans: a

Let the amount x be invested at r1% and remaining (P - x) at r2%, and let the sum of interests be I. Then, I = ${x × r_1 × 5}/100$ + ${(P - x) × r_2 × 5}/100$, which simplifies to 100I = 5 × ($x × (r_1 - r_2) + P × r_2$). Putting r₁ = 8, r₂ = 6, P = 1900, I = 620, we get x = Rs. 500.

Solution | Discuss! | Chapters»

Question 4

The simple interest on a certain principal sum @2% for a period of 4 years is Rs. 360. What is the sum?

Rs. 4500.

Rs. 4600.

Rs. 4400.

Rs. 4700.

Soln.
Ans: a

P = $(I × 100)/(R × T)$. Solving, we get P = $(360 × 100)/(2 × 4)$ = Rs. 4500.

Solution | Discuss! | Chapters»

Question 5

An amount of Rs. 2143 is split into two parts. The first part is invested @17% for 4 years, and the second @4% for 17 years. What is the ratio of the first part is to the second part if they yield the same amount of simple interest?

$1{1/68}$.

${67/68}$.

$1{1/34}$.

Soln.
Ans: a

Let the amounts be x and y. We have x × r₁ × t₁ = y × r₂ × t₂. We can see that x : y is same as r₂t₂ : r₁t₁. The ratio is (4 × 17) : (17 × 4) = 68 : 68, or same as 1. Please note that the answer is independent of the value of the total amount.