Simple Interest Quiz Set 002

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Question 1

An amount of Rs. 2143 is split into two parts. The first part is invested @7% for 2 years, and the second @2% for 7 years. What is the ratio of the first part is to the second part if they yield the same amount of simple interest?

 A

1.

 B

$1{1/14}$.

 C

${13/14}$.

 D

$1{1/7}$.

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 (2 × 7) : (7 × 2) = 14 : 14, or same as 1. Please note that the answer is independent of the value of the total amount.


Question 2

What is the interest on Rs. 12500 @2% for 73 days starting from Jan 1, 3201?

 A

Rs. 50.

 B

Rs. 150.

 C

Rs. 100.

 D

Rs. 250.

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 = 12500, so I = ${12500 × 2 × 1}/{5 × 100}$ = Rs. 50.


Question 3

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

 A

Rs. 38.

 B

Rs. 138.

 C

Rs. 88.

 D

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.


Question 4

A certain amount is split into two parts. The first part is invested at 11% p.a. and the second at 6% p.a. What is the total amount if the total simple interest at the end of 3 years is Rs. 246, and if the amount invested at 11% is Rs. 800?

 A

Rs. 700.

 B

Rs. 800.

 C

Rs. 600.

 D

Rs. 900.

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 = ${x × r_1 × 3}/100$ + ${(P - x) × r_2 × 3}/100$, which simplifies to 100I = 3 × ($x × (r_1 - r_2) + P × r_2$). Putting r1 = 11, r2 = 6, x = 800, I = 246, we get P = Rs. 700.


Question 5

The interest on a certain principal sum is 1/4 times the sum. What is R, the rate of interest, if the time is R years?

 A

5%.

 B

$5{1/2}$%.

 C

6%.

 D

$4{1/2}$%.

Soln.
Ans: a

I = P × (1/4), so we can write P × (1/4) = P × (R/100) × R. Cancelling P and solving for R, we get, R = $√{100 × 1/4}$ = 5%.


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This Blog Post/Article "Simple Interest Quiz Set 002" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Updated on 2017-04-07.

Posted by Parveen(Hoven),
Aptitude Trainer


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