Posted On:February 28, 2019, Posted By: Latest Interview Questions,
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Dear Readers, Welcome to __ Simple Interest - Aptitude Objective Questions__ have been designed specially to get you acquainted with the nature of questions you may encounter during your Job interview for the subject of

**1. Principal :**

The money borrowed or lent out for a certain period is called the principal or the sum.

**2. Interest :**

Extra money paid for using other’s money is called interest.

**3. Simple Interest (S.I.) :**

If the interest on a sum borrowed for certain period is reckoned uniformly, then it is called simple interest.

Let the principal = P, Rate = R% per annum (p.a) and Time = T years. Then ,

1. S.I. = (P x R x T / 100)

2. P = (100 x S.I. / R x T)

3. R = (100 x S.I / P x T)

4. T = (100 x S.I. / P x R).

Explanation:

Let principal = P. Then, S.I. = P and T = 16 years

=> Rate = [100 * P / P * 16]%

= 6 1/4% p.a

Explanation:

Let sum = Rs. x Then, S.I. = Rs. 4x/9

Let rate = R% and time = R years.

Then, [x * R * R / 100] = 4x / 9 or R² = 400/9 or R = 20/3 = 6 2/3

=> Rate = 6 2/3 % and Time = 6 2/3 yrs

= 6 yrs 8 months.

Explanation:

Let sum = P and original rate = R. Then,

[P * (R+2) * 3 / 100] - [P * R * 3 / 100] = 360

=> 7x/20 - 3x/10 = 40

=> x = (40 * 20) = 800.

Hence, the sum is Rs. 800.

Explanation:

Let sum = P and original rate = R. Then,

[P * (R+2) * 3 / 100] - [P * R * 3 / 100] = 360

=> 7x/20 - 3x/10 = 40

=> x = (40 * 20) = 800.

Hence, the sum is Rs. 800.

Explanation:

Let rate = R% and time = R years. Then

(1200 x R x R / 100) ‹=› 432

‹=›12R2 = 432

‹=›R2 = 36

‹=› R = 6

A. Rs. 150

B. Rs. 750

C. Rs. 700

D. Rs. 3250

Answer: B

Explanation:

2500 * (3 * (5/100)) =750

A.764

B.992

C.850

D.770

Answer: B

Explanation:

S.I = Rs. (920 – 800) = Rs. 120; P = Rs. 800, T = 3 yrs

R = ( 100 X 120 )% / 800 X 3 = = 5%

New rate = (5 + 3) % = 8%

New S.I. = Rs. (800 X 8 X 3)/ 100== Rs. 192.

New amount = Rs. (800 + 192) = Rs. 992

A.650

B.690

C.698

D.700

Answer: C

Explanation:

S.I. for 1 year = Rs. (854 – 815) = Rs. 39

S.I. for 3 years = Rs. (39 x 3) = Rs. 117

Principle = Rs. (815 – 117) = Rs. 698

A.1050

B.2050

C.3000

D.5000

E.None of these

Answer: E

Explanation:

Money paid in cash = Rs. 1000.

Balance payment = Rs. (20000 – 1000)

= Rs. 19000.

A.200

B.240

C.250

D.300

Answer:C

Explanation:

Let the Principal be P Rs.

Let the first rate of interest be r

The difference in r is 5

5 x P x N = (Difference in interest) x 100

5 x P x 8 = 100 x 100

p = 100 x 100 / 5 x 8

= Rs. 250

A.1190

B.1120

C.1210

D.1280

Answer: B

Explanation:

Let the required sum of money be Rs. X.

Here R1 = 5%, T1 = 4 years, R2 = 4%, T2 = 10 years.

Given X : 560 = 1 / R1T1 : 1 / R2T2 :

= 1 / 5X4 : 1 / 4X10

X = 2 or, X = Rs. 1120.

A. 8925

B. 8259

C. 8529

D. 8952

Ans: A

Explanation:

Principal = Rs. [100 * 4016.25 / 9 * 5]

= Rs. [401625 / 45]

= Rs. 8925.

A. 500

B. 698

C. 780

D. 910

Ans: B

Explanation:

S.I. for 1 year = Rs. (854 - 815) = Rs. 39.

S.I. for 3 years = Rs. (39 * 3) = Rs. 117.

Principal = Rs. (815 - 117)

= Rs. 698.

A. 6 years

B. 7 years

C. 8 years

D. 9 years

Ans: C

Explanation:

Let the sum be x. Then, S.I. = 40% of x = 2x/5; Rate = 5%.

Time = [100 * 2x/5 * 1/x*5]

= 8 years.

A. Rs. 500

B. Rs. 600

C. Rs. 700

D. Rs. 710

Ans: B

Explanation:

S.I. for 5 year = Rs.(1020 - 720)

= Rs. 300.

S.I. for 2 year = Rs.(300/5×2)

= Rs. 120.

Principal = Rs. (720 - 120)

= Rs. 600.

A. 3.5 years

B. 4 years

C. 4.5 years

D. 5 years

Ans: B

Explanation:

Time = (100×81/ 450×4.5)years

= 4 years.

A. 3%

B. 4%

C. 5%

D. 6%

Answer: D

Explanation:

S.I. = Rs. (15500 - 12500) = Rs. 3000.

Rate = (100 x 3000/12500 x 4)% = 6%