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Aptitude Simple Interest Practice Q&A -Easy

2993.A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is:
Rs. 650
Rs. 690
Rs. 698
Rs. 700
Explanation:

S.I. for 1 year = Rs. $\left(854 - 815\right)$ = Rs. 39.

S.I. for 3 years = Rs.$\left(39 \times 3\right)$ = Rs. 117.

$\therefore$ Principal = Rs. $\left(815 - 117\right)$ = Rs. 698.

2995.A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum?
Rs. 4462.50
Rs. 8032.50
Rs. 8900
Rs. 8925
Explanation:

Principal = Rs.$ \left(\dfrac{100 \times 4016.25}{9 \times 5} \right) $

= Rs.$ \left(\dfrac{401625}{45} \right) $

= Rs. 8925.

2996.How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?
3.5 years
4 years
4.5 years
5 years
Explanation:

Time =$ \left(\dfrac{100 \times 81}{450 \times 4.5} \right) $years= 4 years.

2998.A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?
3%
4%
5%
6%
Explanation:

S.I. = Rs. $\left(15500 - 12500\right)$ = Rs. 3000.

Rate =$ \left(\dfrac{100 \times 3000}{12500 \times 4} \right) $%= 6%

3002.A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:
Rs. 2000
Rs. 10,000
Rs. 15,000
Rs. 20,000
Explanation:

Principal = Rs.$ \left(\dfrac{100 \times 5400}{12 \times 3} \right) $= Rs. 15000.

3004.A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned?
Rs. 35
Rs. 245
Rs. 350
Cannot be determined
Explanation:

We need to know the S.I., principal and time to find the rate.

Since the principal is not given, so data is inadequate.

3006.If a sum of money trebles itself in 40 years,what is the rate of interest?
5%
6%
4%
None of these
Explanation:

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Solution 1

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Let the sum of money be Rs.x

After 40 years, this becomes 3x

Simple Interest = $\left(3x - x\right)$ = 2x

$\text{Simple Interest = }\dfrac{\text{PRT}}{100}$

$2x =\dfrac{x \times \text{R} \times 40}{100}$

$2 =\dfrac{\text{R} \times 40}{100}$

$200 =40\text{R}$

$\text{R} = 5\%$

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Solution 2

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If a sum of money becomes n times in T years at simple interest, then the rate of interest per annum can be given be

$\text{R = }\dfrac{100(\text{n}-1)}{\text{T}}\%$

n = 3

T = 40

$\text{R = }\dfrac{100(\text{n}-1)}{\text{T}} = \dfrac{100(3-1)}{40} = \dfrac{100 \times 2}{40} = \dfrac{100}{20} = 5\%$

3008.A four years NSC certificate was purchased for Rs. 500 with Rs. 1000 being the maturity value. Find the rate of S.I.
24%
22%
16%
25%
Explanation:

P = Rs. 500

SI = Rs.500

T = 4

R = ?

$\text{ R } = \dfrac{100 \times \text{SI}}{\text{PT}} = \dfrac{100 \times 500}{500 \times 4} = \dfrac{100}{4} = 25\%$

3011.A sum of money is lent at S.I. for 6 years. If the same amount is paid at 4% higher, Arun would have got Rs. 120 more. Find the principal
Rs. 200
Rs. 600
Rs. 400
Rs. 500
Explanation:

This means, simple interest at 4% for that principal is Rs.120

$\text{P} = \dfrac{100 \times \text{SI}}{\text{RT}} = \dfrac{100 \times 120}{4 \times 6} = \dfrac{100 \times 30}{6} = 100 \times 5 = 500$

3012.If the simple interest on a certain sum of money for 4 years is one–fifth of the sum, then the rate of interest per annum is
4%
7%
6%
5%
Explanation:

Let the Principal [P] be x

Then, Simple Interest [SI] = x/5

Time [T] = 4 years

$\text{Rate of interest per annum(R) = }\dfrac{100 \times \text{SI}}{\text{PT}} = \dfrac{100 \times \dfrac{x}{5}}{x \times 4} = \dfrac{20}{4}= 5\%$

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