Simple Interest Questions Set 1 | for SSC CGL | SSC CHSL | IBPS | RRB
There are following Simple Interest Questions Set 1 for SSC CGL, SSC CHSL, IBPS Bank, RRB. The answer with the solutions of these simple interest questions is at last.
Simple Interest Questions Set 1 for SSC CGL : Question No 1
An amount of Rs. 400 becomes Rs. 424 in 3 years at a certain rate of simple interest, If the rate of interest increases by 8%, what amount will Rs. 400 becomes in 2 years?
Options:
A. Rs. 450
B. Rs. 425
C. Rs. 480
D. None of these
Simple Interest Questions Set 1 for SSC CHSL : Question No 2
Harshan took a loan at a rate of simple interest 7% in the year with an increase of 0.25% in each subsequent year. He paid interest of Rs. 4425 after 4 years. How much loan did he take?
Options:
A. Rs. 15000
B. Rs. 15500
C. Rs. 15200
D. Rs. 15250
Simple Interest Questions Set 1 for IBPS : Question No 3
A lends 30% of sum at 30% p.a. 50% of sum at 14% p.a. and the remaining sum at 12% p.a. rate of interest. What would be the rate of interest, if the interest is calculated on the whole sum?
Options:
A. 18.1 % p.a.
B. 19.3 % p.a.
C. 12.4 % p.a.
D. 17.6 % p.a.
Simple Interest Questions Set 1 for RRB : Question No 4
Ram invested some amount at the rate of 15% simple interest and a certain amount at the rate of 20% simple interest. He received yearly interest of Rs.1900.But if he had interchanged the amounts invested, he would have received Rs.550 more as interest. How much did he invest at 20% simple interest?
Options:
A. Rs. 7106.5
B. Rs. 7142.8
C. Rs. 7116.5
D. Rs. 7654.5
Simple Interest Questions Set 1 for SSC CGL : Question No 5
Divide Rs. 8000 into two parts so that simple interest on first part for 3 year at 5% p.a. may be equal to simple interest on the second part for 5 year at 9% p.a.
Options:
A. Rs. 5000, Rs. 3000
B. Rs. 6500, Rs. 1500
C. Rs. 6000, Rs. 2000
D. Rs. 4500, Rs. 3500
Simple Interest Questions Set 1 for SSC CHSL : Question No 6
A sum of money at simple interest amounts to Rs. 14160 in 3 year. If the rate of interest is increased by 25%, the same sum amount to Rs. 14700 in the same time. The rate of interest is
Options:
A. 5 %
B. 1/2 %
C. 6 %
D. 7%
Simple Interest Questions Set 1 for IBPS : Question No 7
A sum of Rs. 11000 is equally divided and invested at two different rates of interest. The difference between the interests got after 3 year is Rs. 300. What is the difference between the rates of interest?
Options:
A. 1.81 %
B. 1.75 %
C. 1.69 %
D. 1.32 %
Simple Interest Questions Set 1 for RRB : Question No 8
Harvey borrowed some money at the rate of 3% p.a. for the first 4 year, at the rate of 4% p.a. for the next 3 year and at the rate of 9% p.a. for the period beyond 7 year. If he pays a total simple interest of Rs. 21000 at the end of 9 year, how much money did he borrow?
Options:
A. Rs. 49500
B. Rs. 48500
C. Rs. 49900
D. Rs. 50000
Simple Interest Questions Set 1 for SSC CGL : Question No 9
An equal amount of sum is invested in two schemes for 5 years each, both offering simple interest. The interest amount obtained at 14% is Rs.1000 more than that obtained at 10%. What is the total sum invested?
Options:
A. Rs. 9000
B. Rs. 9500
C. Rs. 10000
D. Rs. 14000
Simple Interest Questions Set 1 for SSC CHSL : Question No 10
Ashok lent Rs.7000 to Ram for 3 years and Rs.4000 to Harish for 2 years on simple interest and at same rate of interest. If Ashok received Rs.3000 as total interest from both, what is the rate of interest?
Options:
A. 10.81%
B. 10.34%
C. 10.99%
D. 10.75%
Simple Interest Questions Set 1 for IBPS : Question No 11
Graham lent sum of Rs.840 to Rajesh in the beginning of the year at a certain rate of interest. After 6 months Rs.420 is lent to the same person but the rate of interest is twice the former. At the end of the year Rs.80 is earned as total interest by graham then what is the original rate of interest?
Options:
A. 7.85%
B. 5.45%
C. 6.34%
D. 7.46%
Simple Interest Questions Set 1 for RRB : Question No 12
What annual installment will discharge a debt of Rs.1053 due in 3 years at 8% simple interest?
Options:
A. 324
B. 325
C. 320
D. 330
Simple Interest Questions Set 1 for SSC CGL : Question No 13
Stokes gave a loan of Rs. 400 to Rashid and recovered it at the rate of Rs. Rs.100 each month for six months, commencing from the end of 1st month. What is the effective rate of simple interest per annum?
Options:
A. 115 %
B. 100 %
C. 95 %
D. 80 %
Simple Interest Questions Set 1 for SSC CHSL : Question No 14
Find the amount of equal installment, annual payment of which will discharge a debt of Rs. 406 due in 2 years at 3% p.a. of Simple interest.
Options:
A. 240
B. 234
C. 334
D. 200
Simple Interest Questions Set 1 for IBPS : Question No 15
Find the amount of debt that will be discharged by equal installments of Rs. 150 each, if the debt is due in 4 year at 2% p.a.
Options:
A. 618
B. 634
C. 674
D. 650
Simple Interest Questions Set 1 for RRB : Question No 16
Vidal borrows Rs. 50,000 from a bank at 5% p.a. simple interest and clears the debt in five years. If the installments paid at the end of the first, second, third and fourth years to clear the debt are Rs. 5,000, Rs. 10,000, Rs. 15,000 and Rs. 20,000 respectively, what amount should be paid at the end of the fifth year to clear the debt?
Options:
A. Rs 8,000
B. Rs 7,500
C. Rs 7,000
D. Rs 5,900
Simple Interest Questions Set 1 for SSC CGL : Question No 17
The simple interest on a sum of money will be Rs.900 after 8 years. If the principal is tripled for the last 4 years, what will be the total interest at the end of the 8th year?
Options:
A. Rs 600
B. Rs 900
C. Rs 1200
D. Rs 1800
Simple Interest Questions Set 1 for SSC CHSL : Question No 18
A certain sum of money at simple interest amounts to Rs.1100 in 3 years and to Rs.1460 in 6 years. The rate percent per annum is:
Options:
A. 27%
B. 16%
C. 25%
D. 11%
Simple Interest Questions Set 1 for IBPS : Question No 19
Two equal amounts of money are deposited in two banks, each at 9% per annum, for (4 1/2) and (6 1/2) years. If the difference between their interests is Rs.288, each sum is:
Options:
A. Rs. 1600
B. Rs. 1500
C. Rs. 1640
D. Rs. 1720
Simple Interest Questions Set 1 for RRB : Question No 20
Rajesh has a total of Rs.42,000. And in that, he lends Rs.8,000 at 9/2% per annum simple interest and Rs.12,000 at 8% per annum simple interest. He lends the remaining money at a certain rate of interest so that he gets total interest of Rs. 3600 at the end of one year. The rate of interest per annum, at which the remaining money is lent, is?
Options:
A. 11.50%
B. 10.36%
C. 8.54%
D. 9.65%
Simple Interest Questions Set 1 Solutions
Answer 1 : C
SI = 424 – 400 = 24
R = (24 × 100) / (400 × 3) =2%
New Rate = 2 + 8 = 10%
SI = (400 × 10 × 2) / 100 = Rs.80
Amount = 400 + 80 = Rs.480
Answer 2 : A
Total interest = Rs. 4425, Rate = 7% and increasing by 0.25% every year.
Let total Loan Amount = P
P= (4425× 100) / (7×1 + 7.25 × 1 + 7.5 × 1 + 7.75 × 1) = 442500 / 29.5= Rs.15000
Answer 3 : A
Let total sum = Rs. 100
Interest on first part = (30 × 30 × 1) / 100= Rs.9
Interest on second part = (35 × 14 × 1) / 100 = Rs.4.9
Interest on third part = (35 × 12 × 1) / 100= Rs.4.2
Total interest = 9 + 4.9 + 4.2 = 18.1
Rate of interest = 18.1%
Answer 4 : B
Amount invested at 15% = Rs. x
Amount invested at 20% = Rs. y
1900 = (x × 15 ×1) / 100+ (y × 20 × 1) / 100
15x + 20y = 190000 …(1)
2450 = (x × 20 × 1) / 100+ (y × 15 × 1) / 100
20x + 15y = 245000 …(2)
Solving (1) and (2), we get y = Rs. 7142.8
Answer 5 : C
Let first part = Rs. x , Then Second Part = 8000 – x.
Now,(x × 3 × 5) / 100 = [(8000 − x) × 5 × 9] / 100
3x / 20 = (72000 – 9x) / 20
x = Rs. 6000
Second part = 8000 – 6000 = Rs. 2000
Answer 6 : C
14160 = P + (P × R × 3) / 100
3PR / 100 = 14160 – P
14700 = P + (P ×1.25R × 3) / 100
P + (5/4 × 3PR / 100) = 14700
P + (5/4)(14160 − P) = 14700
4P + 70800 – 5P = 58800
P = 12000
14160 = 12000 + (12000 × R ×3) / 100
14160 = 12000 + (120 × R × 3)
14160 – 12000 = 360R
2160 = 360R
R =2160 / 360= 6%
Answer 7 : A
Let the two different rates be x and y respectively.
Difference between the interests is Rs 300
(5500 × x × 3) / 100 − (5500 × y × 3) / 100 = 300
16500x – 16500y = 300 × 100
16500(x – y) = 30000
x – y = 1.81%
Answer 8 : A
P = (SI × 100) / (R1T1 + R2T2 + R3T3)
P = (21000 × 100) / (3×4 + 4×3 + 9×2) = 2100000 / (12 + 12 + 18) = Rs. 50000
Answer 9 : C
Difference in interests = Rs.1000
Difference in rate = 14 – 10 = 4%
Time = 5 year
In 5 year, rate of interest = 4% × 5 = 20%
20% = 1000
100% = (1000 ×100) / 20 = Rs. 5000
Total amount invested in both the schemes = 10000
Answer 10 : B
(7000 × R × 3) / 100 + (4000 × R × 2) / 100 = 3000
210R + 80R = 3000
290R = 3000
R=10.34%
Answer 11 : C
Since the second loan is given after 6 months, n = 1/2
(840 × R × 1) / 100 + (420 × 2R ×1) / (100 × 2) = 80
8.4R + 4.2R = 80
12.6R = 80
R = 80/12.6 = 6.34%
Answer 12 : C
Let x be the instalment
For 1?? Year = x + (x × 8 × 1) / 100
For 2?? Year = x + (x × 8 × 2) / 100
For 3rd Year = x
[x + (x × 8 × 1) / 100] + [x + (x × 8 × 2) / 100] + x =1053
3x + 16x / 100 + 8x / 100 = 1053
300x + 24x = 105300
324x = 105300
x=325
Answer 13 : B
Principal = Rs.400
Amount = Rs 100 x 6 = Rs 600
Interest = Rs 600 – Rs 400 = Rs 200
Time = 6 months = 6/12 years
200= (400×1× R) / (2×100)
R = 440×100 / 400 = 100%
Answer 14 : D
Amount of each installment = 100P / [100n+n(n−1)R/2]
= (100 × 406) / [100×2+ 2(2−1)x3/2]
= 40600 / 203 = 200 = Rs.200
Answer 15 : A
Amount of each installment = 100P / [100n+n(n−1)R/2]
150 = 100 x P / [100 x 4 + 4(4−1)2/2]
150=100P / (400 + 12)
P = (150 x 412) / 100 = Rs. 618
Answer 16 : B
In the case of simple interest, installment amount will always be reduced from principal and the interest will be calculated on the remaining principal.
Simple interest for 1st year = PRT / 100 = (50000×5×1) / 100 = Rs. 2500
Amount after 1st installment = 50000 – 5000 = 45000
Simple interest for 2nd year = PRT / 100 = (45000×5×1) / 100 = Rs. 2250
Amount after 2nd installment = 45000 – 10000 = 35000
Simple interest for 3rd year = PRT / 100 = (35000×5×1) / 100 = Rs. 1750
Amount after 3rd installment = 35000 – 15000 = 20000
Simple interest for 4th year = PRT / 100 = (20000×5×1) / 100 = Rs. 1000
Amount after 4th installment = 20000 – 20000 = 0
Balance of debt for the 5th year = 2500 + 2250 + 1750 + 1000 = Rs. 7500
Answer 17 : D
Let sum be x
N = 8 yrs
SI = 900
R = (100×SI) / (P×N)
R = (100 × 900) / (x × 8) = 11250/x
For 1st 4 yrs SI = x × 11250/x × 4 × 1/100 = 450
For last 4 yrs SI = 3x × 11250/x × 4 ×1/100 = 1350
Total interest = 1350 + 450 = Rs. 1800
Answer 18 : B
S.I for 3 years = Rs.(1460 – 1100) = Rs.360
Sum = Rs.(1100 – 360) = Rs.740
Rate = (100 × 240) / (740 × 2) = 16.21% ≈ 16%
Answer 19 : A
Let each sum be Rs. P.
Then,
(P × 9 × 13) / (100 × 2) − (P × 9 × 9) / (100 × 2) = 288
117P/200 − 81P /200 = 288
36P/200 = 288
P = (288 × 200) / 36 = Rs. 1600
Answer 20 : B
For First loan
SI = PRT / 100 = (8000 × 1 × 9) / (100 × 2) = 360
For Second loan
SI = (12000 × 8 × 1) / 100 = 960
Total interest = 3600
So for the third loan SI = 3600 – (960 + 360) = 2280
Rate of interest for third loan = (2280 × 100) / 22000 = 10.36%
