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# Simple Interest Questions Set 1 | for SSC CGL | SSC CHSL | IBPS | RRB # 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

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

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

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%

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

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

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%

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%

P = (SI × 100) / (R1T1 + R2T2 + R3T3)
P = (21000 × 100) / (3×4 + 4×3 + 9×2) = 2100000 / (12 + 12 + 18) = Rs. 50000

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

(7000 × R × 3) / 100 + (4000 × R × 2) / 100 = 3000

210R + 80R = 3000

290R = 3000

R=10.34%

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%

Let x be the instalment

For 1𝑠𝑡 Year = x + (x × 8 × 1) / 100

For 2𝑛𝑑 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

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%

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

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

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

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

S.I for 3 years = Rs.(1460 – 1100) = Rs.360

Sum = Rs.(1100 – 360) = Rs.740

Rate = (100 × 240) / (740 × 2) = 16.21% ≈ 16%

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

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%

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