Simple Interest Quiz Set 012 | Maths Aptitude Quiz Questions and Mock Test on Simple Interest Set 12 | mock tests for Bank PO, SSB/SSC Exams, SO Clerical Exam, GATE Exam, LIC AO, GIC AO, etc.

**Your Score**
Correct Answers:
Wrong Answers:
Unattempted:

Question 1

The interest on Rs. 6000 @6% for a certain number of days starting from Jan 1, 1801 is Rs. 72. How many days?

73 days.

74 days.

72 days.

75 days.

Soln.
Ans: a

We have r = 6%, P = 6000, I = 72, so t = ${100 × 72}/{6000 × 6}$. We get t = 1/5. The given year is not a leap year. So it has 365 days. Since 365/5 = 73, the number of days is 73.

Solution | Discuss! | Chapters»

Question 2

Simple interest on a certain sum of money is $1/2$ of the sum for 10 years. What is the rate of interest?

5%.

6%.

4%.

7%.

Soln.
Ans: a

We know, I = PRT/100. If I = P/2, then $1/2$ = RT/100. So R = $100/{2 × 10}$ = 5%.

Solution | Discuss! | Chapters»

Question 3

Simple interest on a certain sum of money is $1/5$ of the sum for 5 years. What is the rate of interest?

4%.

5%.

3%.

6%.

Soln.
Ans: a

We know, I = PRT/100. If I = P/5, then $1/5$ = RT/100. So R = $100/{5 × 5}$ = 4%.

Solution | Discuss! | Chapters»

Question 4

Mr. X puts an amount of Rs. 800 in a simple interest scheme. If he gets a total amount of Rs. 1448 after 9 months, what is the rate of interest?

${3/4}$% p.a.

9% p.a.

${11/12}$% p.a.

1% p.a.

Soln.
Ans: a

The interest is I = 1448 - 800 = 648. So R = $(I × 100)/(T × P)$. Solving, we get R = $(648 × 100)/(9 × 800)$ = 9% per month, which is ${3/4}$% per annum. Please note that since the time is in months the rate is also p.m.

Solution | Discuss! | Chapters»