Simple and Compound Interest Aptitude Practice Test - Set 01

Practice Test: Question Set - 01


1. Riya took a loan for 7 years at the rate of 6% per annum S.I. If the total interest paid was Rs. 2100, the principal was:
    (A) Rs. 4400
    (B) Rs. 4800
    (C) Rs. 5000
    (D) Rs. 5200

2. How much should money lender lend at simple rate of interest of 15% in order to have Rs. 3234 at the end of 1½ years?
    (A) Rs. 1640
    (B) Rs. 2620
    (C) Rs. 2610
    (D) Rs. 2640

3. A certain sum of money lent out at S.I. amounts to Rs. 6900 in 3 years and Rs. 7500 in 5 years. The sum lent is:
    (A) Rs. 4000
    (B) Rs. 4500
    (C) Rs. 5000
    (D) Rs. 6000

4. Michel borrowed Rs. 50,000 from John at simple interest. After 3 years, John got Rs. 3000 more than what he had given to Michel. What was the rate of interest per annum?
    (A) 2%
    (B) 5%
    (C) 8%
    (D) 10%

5. Raj lent Rs. 1200 to Raju for 3 years at a certain rate of simple interest and Rs. 1000 to Rahim for the same time at the same rate. If he gets Rs. 50 more from Raju than from Rahim, then the rate percent is:
    (A) 8 1/3 %
    (B) 6 2/3 %
    (C) 10 1/3 %
    (D) 9 2/3 %

6. A money lender finds that due to a fall in the rate of interest from 8% to 7 3/4 %, his yearly income diminishes by Rs. 615. His capital is:
    (A) Rs. 260,000
    (B) Rs. 246,000
    (C) Rs. 238,000
    (D) Rs. 224,000

7. Mr. Dev finds that an increase in the rate of interest from 4 7/8 % to 5 1/8 % per annum increases his yearly income by Rs. 250. His investment is:
    (A) Rs. 1,00,000
    (B) Rs. 1,20,000
    (C) Rs. 1,50,000
    (D) Rs. 2,00,000

8. At a certain rate of simple interest, a certain sum doubles itself in 10 years. It will triple itself in:
    (A) 12 years
    (B) 15 years
    (C) 20 years
    (D) 30 years

9. A sum of money triples itself in 15 years 6 months. In how many years would it double itself?
    (A) 6 years 3 months
    (B) 7 years 9 months
    (C) 8 years 3 months
    (D) 9 years 6 months

10. A sum of Rs.1000 is lent to be returned in 11 monthly installments of Rs.100 each, interest being simple. The rate of interest is:
    (A) 9 1/11 %
    (B) 10 %
    (C) 11%
    (D) 21 9/11 %

11. What annual payment will discharge a debt of Rs. 1740 due in 5 years, the rate being 8% per annum?
    (A) Rs. 360
    (B) Rs. 300
    (C) Rs. 320
    (D) Rs. 340

12. If a, b, c are three sums of money such that b is the simple interest on a, c is the simple interest on b for the same time and at the same rate of interest, then we have;
    (A) a² = bc
    (B) b² = ac
    (C) c² = ab
    (D) abc = 1

13. A man invests an amount of Rs. 15,860 in the names of his 3 sons A, B and C, in such a way that they get the same amount after 2, 3 and 4 years respectively. if the rate of simple interest is 5%, then the ratio of amounts invested among the three sons A, B and C will be:
    (A) 10 : 15 : 20
    (B) 22 : 23 : 24
    (C) 6 : 4 : 3
    (D) 2 : 3 : 4

14. If an amount Rs. 8000 becomes to Rs. 9200 in 3 years at simple interest. If the rate of interest is increased by 3%, it would amount to?
    (A) Rs. 9920
    (B) Rs. 10,560
    (C) Rs. 11,120
    (D) Rs. 11,820

15. If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 12000, the compound interest on the same sum for the same period at the same rate, is:
    (A) Rs. 12,600
    (B) Rs. 12,610
    (C) Rs. 12,640
    (D) Rs. 12,650

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Simple and Compound Interest:
Formula:                Simple and Compound Interest Formulas
Solved Examples:  Solved Examples: Set 01
Practice Test:         Practice Test: 01     Practice Test: 02     Practice Test: 03
                                 Practice Test: 04     Practice Test: 05     Practice Test: 06
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