Simple Interest Quiz for IBPS PO / SBI PO 2017

Q1. A borrowed Rs. 5000 from B at simple interest. After 4 years, B received Rs. 1000 more than the amount given to A on loan. The rate of interest was :
(a) 5%
(b) 25%
(c) 20%
(d) 4%
(e) None of these

Q2. The sum of money that will give Re 1 as interest per day at 5% per annum simple interest is :
(a) Rs.3650
(b) Rs.36500
(c) Rs.730
(d) Rs.7300
(e) None of these

Q3. A man deposits Rs. 4000 in a bank at 15% per annum and Rs. 6000 in another bank at 16% per annum. Find the rate of interest for the whole sum.
(a) 15.86%
(b) 31%
(c) 14.6%
(d) 15.6%
(e) None of these

Q4. The simple interest on a sum of money is equal to the principal and the number of years is equal to the rate per cent per annum. Find the rate per cent. 
(a) 25%
(b) 100%
(c) 10%
(d) Can’t be possible
(e) None of these

Q5. What annual payment will discharge a debt of Rs. 9270 due 3 years hence at the rate of 3% simple interest ?
(a) Rs. 3000
(b) Rs. 2000
(c) Rs. 2500
(d) Rs. 3500
(e) None of these

Q6. A certain sum is invested for certain time. It amounts to Rs. 400 at 10% per annum. But when invested at 4% per annum, it amounts to Rs. 200. Find the time. 
(a) 100 years
(b) 75 years
(c) 50 years
(d) 60 years
(e) None of these

Q7. Sudarshan has Rs. 1500, part of which he lent at 3 per cent and the rest at 2 per cent. The whole annual interest was Rs. 32. How much did he lend at 2 per cent ?
(a) Rs. 200
(b) Rs. 1300
(c) Rs. 300
(d) Rs. 1200
(e) None of these

Q8. Rs. 1,200 amounts to Rs. 1,632 in 4 years at a certain rate of simple interest. If the rate of interest is increased by 1%, it would amount to how much ?
(a) Rs. 1635
(b) Rs. 1644
(c) Rs. 1670
(d) Rs. 1680
(e) None of these

Q9. Shudhir invested Rs. 16000 in a scheme which earned him simple interest @ 15% per annum. After two years he withdrew the principal amount plus interest and invested the entire amount in another scheme for two years, which earned him compound interest @ 12% per annum. What would be the total interest earned by Sudhir at the end of 4 years? 
(a) Rs. 9792
(b) Rs. 10152.11
(c) Rs. 9012.14
(d) Rs. 6,000
(e) None of these

Q10. A certain sum of money amounted to Rs. 1020 at 9% in a time in which Rs. 720 amounted to Rs. 880 at 4%. If the rate of interest is simple, find the sum.
(a) Rs. 680
(b) Rs. 780
(c) Rs. 700
(d) Rs. 580
(e) None of these

Q11. Rs. 7930 is so divided into three parts such that their amounts after 2, 3 and 4 years respectively are equal, the simple interest being at the rate of 5% per annum. Find the difference between the greatest and the smallest parts of the sum. 
(a) Rs. 250
(b) Rs. 230
(c) Rs. 280
(d) Rs. 330
(e) None of these

Q12. The amount of a certain sum with simple interest for 20 years is Rs. 586.40 and with simple interest for 10 years more is Rs. 696.35. Find the rate per cent per annum at which interest is reckoned.
(a) 3%
(b) 4%
(c) 5%
(d) 8%
(e) None of these

Q13. Rakesh borrows Rs. 3500 from a bank at SI. After three years he paid Rs. 1500 to the bank and at the end of 5 years from the date of borrowing he paid Rs. 2725 to the bank to settle the account. Find the rate of interest.
(a) 10%
(b) 5%
(c) 2.5%
(d) 4%
(e) None of these

Q14. Out of a certain sum, 1/3rd is invested at 3%, 1/6th at 6% and the rest at 8%. If the simple interest for 2 years from all these investments amounts to Rs. 600, find the original sum.
(a) Rs. 5000
(b) Rs. 6000
(c) Rs. 5200
(d) Rs. 5500
(e) None of these

Q15. On Rs. 3000 invested at a simple interest at rate of 6 per cent per annum, Rs. 900 is obtained as interest in certain years. In order to earn Rs. 1600 as interest on Rs. 4000 in the same number of years, what should be the rate of simple interest ?
(a) 7%
(b) 8%
(c) 9%
(d) Data inadequate
(e) None of these

SOLUTIONS

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Simple & Compound Interest Quiz for IBPS PO / SBI PO 2017

Q1. The simple interest accrued on a sum of certain principal is Rs. 1200 in 4 yr at the rate of 8% p.a. What would be the simple interest accrued on thrice of that principal at the rate of 6% p.a. in 3 yr?  
(a) Rs. 2025
(b) Rs. 3025
(c) Rs. 2250
(d) Rs. 2150
(e) None of these 

Q2. The simple interest accrued on an amount of Rs. 2500 at the end of 6 yr is Rs. 1875. What would be the simple interest accrued on an amount of Rs. 6875 at the same rate and same period?   
(a) Rs. 4556.5
(b) Rs. 5025.25
(c) Rs. 4895.25
(d) Rs. 5245.5 
(e) None of these  

Q3. Srinivasan invests two equal amounts in two banks giving 10% and 12% rate of interest, respectively. At the end of year the interest earned is Rs. 1650. Find the sum invested in each. 
(a) Rs. 8500
(b) Rs. 15000
(c) Rs. 7500
(d) Rs. 17000
(e) None of these 

Q4. Ravi borrowed some money at the rate of 4% p.a. for the first 3 yr at the rate of 8% p.a. for the next 2 yr and at the rate of 9% p.a. for the period beyond 5 yr. If he pays a total simple interest of Rs. 19550 at the end of 7 yr, how much money did he borrow? 
(a) Rs. 39500
(b) Rs. 42500
(c) Rs. 41900
(d) Rs. 43000
(e) None of these 

Q5.  Simple interest on a certain sum at a certain annual rate of interest is 16% of the sum. If the numbers representing rate per cent and time in years be equal, then the rate of interest is
(a) 4%
(b) 6%
(c) 4.5%
(d) 6.5%
(e) None of these 

Q6. Arun invested a sum of money at a certain rate of simple interest for a period of 4 yr. Had he invested the same sum for a period of 6 yr the total interest earned by him would have been fifty per cent more than the earlier interest amount. What was the ratio of interest per cent per annum?  
(a) 4
(b) 8
(c) 5
(d) Cannot be determined 
(e) None of these 

Q7. Mr. A lends 40% of sum at 15% p.a. 50% of rest sum at 10% p.a. and the rest sum at 18% p.a. rate of interest. What would be the rate of interest, if the interest is calculated on the whole sum?  
(a) 13.4% p.a. 
(b) 14.33% p.a.  
(c) 14.4% p.a. 
(d) 13.33% p.a. 
(e) None of these 

Q8. The compound interest earned by Suresh on a certain amount at the end of 2 yr at the rate of 8% p.a. was Rs. 1414.4. What was the total amount the Suresh got back at the end of 2 yr in the form of principal plus interest earned? 
(a) Rs. 9414.4 
(b) Rs. 9914.4
(c) Rs. 9014.4
(d) Rs. 8914.4 
(e) None of these 

Q9. Sonika invested an amount of Rs. 5800 for 2 yr. At what rate of compound interest will she get an amount of Rs. 594.5 at the end of 2 yr?  
(a) 5 p.c.p.a. 
(b) 4 p.c.p.a
(c) 6 p.c.p.a
(d) 8 p.c.p.a
(e) None of the above 

Q10. What will be the compound interest accrued on an amount of Rs. 10000 @ 20% p.a. in 2 yr if the interest is compounded half-yearly?  
(a) Rs. 4400
(b) Rs. 4600
(c) Rs. 4641
(d) Rs. 4680
(e) None of these  


ANSWERS :

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Simple Interest Quiz for IPPB Scale-I Mains 2016-17

Q1. If the simple interest on a certain sum of money is 4/25 of the sum and the rate per cent equals the number years, then the rate of interest per annum is:    
(a) 2%
(b) 3%
(c) 4%
(d) 5%
(e) None of these 


Q2. If a certain sum of money borrowed at 5% per annum simple interest amounts to Rs. 1020 in 4 years, then the sum of money borrowed is: 
(a) Rs. 850
(b) Rs. 925
(c) Rs. 750
(d) Rs. 780 
 (e) None of these 

Q3. If Rs. 1000 be invested at interest rate of 5% and the interest be added to the principal every 10 years, then the number of years in which it will amount to Rs. 2000 is: 
(a) 16 2/3 years 
(b) 16 1/4 years 
(c) 16 years 
(d) 15 years 
(e) None of these 

Q4. Sumit lends Rs. 10000 for 2 years at 20% per annum simple interest. After 1 year, he receives Rs. 6000. How much will be he receive next year? 
(a) Rs. 5900
(b) Rs. 6400
(c) Rs. 7200
(d) Rs. 7500 
(e) None of these 

Q5. A sum of money doubles itself in 8 years. In how many years will it triple? 
(a) 16 years 
(b) 15 years 
(c) 14 years 
(d) 12 years
(e) None of these 

Q6. A sum of Rs. 7700 is to be divided among three brothers Vikas, Vijay and Viraj in such a way that simple interest on each part at 5% per annum after 1, 2 and 3 years, remains equal. The share of Vikas is more than that of Viraj by: 
(a) Rs. 2800
(b) Rs. 2500
(c) Rs. 3000
(d) Rs. 2900 
(e) None of these 

Q7. Mr Mani invested an amount of Rs. 12000 at a simple interest rate of 10% per annum and another amount at a simple interest rate of 20% per annum. The total interest earned at the end of one year on the total amount invested became 14% per annum. Find the total amount invested.  
(a) Rs. 20000
(b) Rs. 20800
(c) Rs. 21000
(d) Rs. 25000 
(e) None of these 

Q8. Brinda borrowed Rs. 1000 to build a hut. She pays 5% simple interest. She lents the hut to Ramu and receives a rent of Rs. 12(1/2) per month from Ramu. In how many years Brinda would clear off the debt? 
(a) 10 years 
(b) 10 1/4 years 
(c) 10 1/2 years 
(d) 11 years 
(e) None of these 

Q9. Manish borrowed a sum of Rs. 1150 from Anil at the simple rate of 6 per cent p.a. for 3 years. He then added some more money to the borrowed sum and lent it to Sunil for the same time at 9 per cent p.a. at simple interest. If Manish gains Rs. 274.95 by way of interest on the borrowed sum as well as his own amount from the whole transaction, then what is the sum lent by him to Sunil?   
(a) Rs. 1290
(b) Rs. 1785
(c) Rs. 1285 
(d) Rs. 1200
(e) None of these 

Q10. The simple interest on a sum of money is 4/9 of the principal and the number of years is equal to the rate per cent per annum. The rate per annum is: 
(a) 5%
(b) 6 2/3%
(c) 6%
(d) 7 1/5%
(e) None of these 

Q11. Rs. 1500 were divided into two parts. One part was put at 6% and the other at 5% interest. If the whole annual interest from both investments was Rs. 85, then the investment at 6% was: 
(a) Rs. 1200
(b) Rs. 1000
(c) Rs. 1300
(d) Rs. 1150 
(e) None of these 

Q12. 800 becomes Rs. 956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4%, what amount will Rs. 800 become in 3 years? 
(a) Rs. 1020.80
(b) Rs. 1025
(c) Rs. 1052
(d) Rs. 1050 
(e) None of these 

Q13. Prakash lends a part of Rs. 20,000 at 8% simple interest and remaining at 4/3% simple interest. His total income after a year was Rs. 800. Find the sum lent at 8%.  
(a) Rs. 8000
(b) Rs. 12000
(c) Rs. 6000
(d) Rs. 10000
(e) None of these 

Q14. A man invested 1/3 of his capital at 7%, 1/4 at 8% and the remaining at 10% rate of simple interest. If his annual income from interests is Rs. 561, then the capital invested was:  
(a) Rs. 6000
(b) Rs. 5600
(c) Rs. 6600
(d) Rs. 7200
(e) None of these 

Q15. A sum fo Rs. 16800 is divided into two parts. One part is lent at a simple rate of interest 6% per annum and the other at 8% per annum. After 2 years the total sum received is Rs. 19000. The sum lent at the rate of 6% simple interest is: 
(a) Rs. 12200
(b) Rs. 12000
(c) Rs. 11000
(d) Rs. 1000
(e) None of these



ANSWERS :

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IBPS SO Exam 2017 - Day 8 (Simple Interest/ Compound Interest)

Dear Aspirants,

We have introduced  "the 12 days study plan to crack IBPS SO Exam 2017". This plan is specifically dedicated to Quantitative Aptitude & English Language and cover all types of questions asked in Bank SO exams. This will help you to prepare in a more efficient and systematic way. So, follow this post to keep updated with the plan.

Q1. A sum is invested for 3 years at a certain rate of interest compounded annually. After 3 years the amount increases by 119.7%. What is the rate of interest?
(a) 20%
(b) 10%
(c) 15%
(d) 30%
(e) 40%

Q2. A sum of money doubles itself in 10 years at simple interest. In how many years would it become 5 times of itself?
(a) 30
(b) 45
(c) 40
(d) 50
(e) 65

Q3. A man buys land and pays 20 times its annual rent. What is the rate %?
(a) 6%
(b) 5%
(c) 10%
(d) 8%
(e) 7%

Q4. A father left a will of Rs. 68,000 to be divided between his two sons aged 10 years and 12 years such that they may get equal amount when each attains the age of 18 years. If the money is reckoned at 10% p.a. then find how much each gets at the time of the will.
(a) Rs. 30,000, Rs. 38,000
(b) Rs. 28,000, Rs. 40,000
(c) Rs. 32,000, Rs. 36,000
(d) Cannot be determined
(e) None of these

Q5. Find the minimum number of complete years such that, the interest on Rs. 106.25 at 3% per annum will be in-exact number of rupees?
(a) 8
(b) 16
(c) 9
(d) 12
(e) None of these

Q6. A milk man borrowed Rs. 3,500 from two money lenders. For one loan, he paid 5% p.a. and for the other, he paid 10% p.a. The total interest paid for two years was Rs. 500. How much did he borrow at 10% rate?
(a) Rs. 2000
(b) Rs. 1500
(c) Rs. 1650
(d) Rs. 1675
(e) None of these

Q7. A sum is invested for 4 years at a certain rate of interest compounded annually. After 4 years the amount increases by by 107.36%. What is the rate of interest?
(a) 20%
(b) 10%
(c) 15%
(d) 30%
(e) 40%

Q8. A person borrows Rs. 5000 for 99 years at 4% p.a. simple interest. He immediately lends it to another person at % p.a. for 99 years. Find his gain in the transaction per year.
(a) Rs. 112.50
(b) Rs. 125
(c) Rs. 150
(d) Rs. 167.50
(e) None of these

Q9. Two equal sums of money were invested, one at 4% and the other at 4.1%. At the end of 99 years, the simple interest received from the latter exceeded to that received from the former by Rs. 198. Each sum was:
(a) Rs. 1800
(b) Rs. 1600
(c) Rs. 1750
(d) Rs. 2000
(e) None of these
                                                                                                                                                                                         
Q10. Ram borrowed some money at the rate of 6% p.a. for the first three years, 9% p.a. for the next five years and 13% p.a. for the period beyond eight years. If the total interest paid by him at the end of eleven years is Rs. 81600, how much money did he borrow?
(a) Rs. 80000
(b) Rs. 100000
(c) Rs. 120000
(d) Data inadequate
(e) None of these

Q11. The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 1.350. The difference between their rates of interest is:
(a) 0.01%
(b) 0.02%
(c) 0.03%
(d) 0.3%
(e) None of these

Q12. Ram bought a Car for Rs. 481593 he will pay the amount in three annual installments in three years and the ratio of installments is 1:2:3, where the largest installment is at the end of third year. Also, he settled the complete amount at the end of 3rd year at the rate of 10% compound interest compounded annually then find the value of first installment.
(a) Rs. 100000
(b) Rs. 90000
(c) Rs. 110000
(d) Rs. 95000
(e) None of these

Q13. The difference between compound interest and simple interest on a sum for 2 years, when the interest is compounded annually is Rs. 4 and SI for 2 years is Rs. 40. Find rate?
(a) 15%
(b) 10%
(c) 25%
(d) 20%
(e) None of these

Q14. At what rate percent compound interest does a sum of money becomes Nine-fold in 2 years.
(a) 150%
(b) 100%
(c) 200%
(d) 400%
(e) None of these

Q15. Find the effective compound interest for 20% and 2 years, where compound interest is compounded semi-annually?
(a) 40%
(b) 41%
(c) 46.41%
(d) 44%
(e) None of these


ANSWERS :














S12. Ans.(a)
Sol. Given that there are three annual installments beginning at the end of one year after the car is bought and the amount will be settled by the end of 3 years. Also, the concept applied will be as followed. Worth of 481593 Rs. after 3 years, will be equated to worth of all installments at this points of time i.e. at the end of 3 years.
According to given informatION, we get,





S15. Ans.(c)
Sol. In effective compound interest, time period and compounding frequency is always 1 as it is that rate which gives you same income when nominal rate of interest is invested for certain time at any compounding frequency

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