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 Aptitude Simple Interest Questions And Answers with Solutions (English)

Principal:-
The money borrowed or lent for a certain period is called the principal or the sum. It is denoted by P.

Amount:-
The total of the sum borrowed and the interest is called the amount. It is denoted by A.

Interest:-
Interest is the extra money paid by the borrowed to the owner (lender) as a form of compensation for the use
of money borrowed.

Simple Interest:-
If the interest on a sum borrowed for a certain period is calculated uniformly, then it is called simple interest
(S.I).

Let Principal = P, Rate = R% per annum (P.a), and time =T Years, then,

(i) Simple Interest (S.I.) = [ ]
100
From this formula, we can drive the followings

100SI
(ii) Principal (P) =

100
(iii) Rate (R) =

100SI
(iv) Time (T) =

(v) Amount (A) = Principal + SI. (when amount (A) is given)

PRT ..
=P+ = P [1 + 100]
100
(Iv) When (A) is given.

100
P=[ ] =[100]
1+
100

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 Aptitude Simple Interest Questions And Answers with Solutions (English)

Important facts :-

(i) Time required for a money to be n times at rate R % is

(1)100
T =

(ii) If a money is n time of simple Interest, Them

n100
(a) Time required to be n times = Year (T)

n100
(b) Rate to be n times (R) = %

(iii) If a money will be n, times in T Years at simple interest, then time required for the money to be
in times is

(21)T1
T2 = (11)
Years

(iv) If a money will be n, times in a certain period at Rate R, % at simple

Interest, then the rate for the same money R in a same time to be N2 times is

(21)R1
R2 = (11)
%
(V) If the difference of interests received from two sources of principal P in T
100
time is x, then the difference between Rates will be; R1-R2 =

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 Aptitude Simple Interest Questions And Answers with Solutions (English)

1. A money (at simple interest) amounts to Rs. 1200 in 3 years & to Rs. 1280 in years. The sum is -
(A) Rs. 840 (B) Rs. 960
(C) Rs. 900 (D) Rs. 940

2. How much time will it take for an amount of Rs. 1500 to get Rs 225 as interest at 5% per annum of
simple interest?
(A) 1 Year (B) 2 Years
(C) 4 Years (D) 3 Years

3. What will be the simple interest on an amount of Rs 2000 in 3 Years at interest 4% Per annum?
(A) Rs . 220 (B) Rs . 240
(C) Rs . 250 (D) Rs . 280

4. At what rate of interest, a sum of Rs 15000, will be Rs 17625 in 5 Years?

(A) 3 % (B) 3.5 %
(C) 4 % (D) 4.5 %

5. What will be the ratio of simple Interest earned by a certain amount at the same rate of interest for 2
Years & for 4 Years?
(A) 2:1 (B) 1:2
(C) 1:3 (D) Cannot be determined.
.
6. A Person takes a loan of Rs 2500 at 4% simple interest. He returns Rs 1500 at the end of 1 Year. What
amount he would pay to clear his dues at the end of 2 Years?
(A) Rs. 1100 (B) Rs. 1140
(C) Rs. 1050 (D) Rs. 1150

7. Ram borrows a sum from Mohan at the rate of 8% P.A. simple interest. After 2 Years he had to pay Rs
1600 as interest only for the period. The principal amount borrowed by Ram was :
(A) 9500 (B) 1100
(C) Rs . 10000 (D) 10500

8. A certain amount earns simple interest of Rs 2500 after 5 Years . Had the rate of interest been 3%
more, how much more interest would it have earned?
(A) Rs 50 (B) Rs 250
(C) Rs 340 (D) Can not be determind

9. A sum of money amounts to Rs 10560 after 4 Years and Rs 11840 after 6 Years at the same rate of
simple interest . The rate of interest per annum is :
(A) 6% (B) 8%
(C) 7% (D) 9%

10. Sohan received a sum at 12 P.a. Simple interest. After 5 Years he returned the principal and interest. If
he returned Rs 16000. What was the principal amount?
(A) Rs 9000 (B) Rs 9500
(C) Rs 10000 (D) Rs 10500

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 Aptitude Simple Interest Questions And Answers with Solutions (English)

11. The simple interest on Rs. 10 for 4 months at the rate of 3 Pasie per rupee per month is.
(A) Rs 1.20 (B) Rs. 1.60
(C) Rs 2.40 (D) Rs 3.60

12. At what rate present of simple interest will a sum of money double itself in 12 years?
1 1
(A) 8 4 % (B) 8 3 %
1 1
(C) 8 2% (D) 9 2 %

13. A sum of money lent out t simple interest amounts to Rs.720 after 2 years and to Rs 1020 after a
further period of 5 years. The sum is.
(A) Rs.500 (B) Rs.600
(C) Rs.700 (D) Rs. 710

14. How much time will it take for an amount of Rs. 900 to yield Rs 81 as interest at 4.5% per annum of
simple interest
(A) 2 years (B) 3 years
(C) 1 years (D) 4 years

15. In how many years will a sum of Rs 6000 yield an interest of Rs. 1200 at 8 % P.A?
(A) 2.5 years (B) 2 years
(C) 1.5years (D) 3 years

16. A man took loan from a bank at the rate of 12% P.A. simple interest. After 3 years he had to pay Rs.
5400 interest by him was.
(A) Rs.2000 (B) Rs 10000
(C) Rs. 15000 (D) Rs. 20000

17. The interest on a certain deposit at 4.5% P.A.is Rs 202.50 in one year. How much will the additional
interest in one year be on the same deposit at 5% P.A.?
(A) Rs.22.5 (B) 225
(C) 20.25 (D) Rs. 427.5

18. At 5% per annum simple interest, Ram borrowed Rs.500. What amount will he pay to clear the debt
after 4 years.
(A) Rs.750 (B) Rs.700
(C) Rs.650 (D) Rs.600

19. In how many years will a sum of money double itself at 8% per annum?
(A) 6 years 6 months (B) 12 years 6 months
(C) 8 years 4 months (D) 10 years 4 months

20. In how many years will a sum of money double itself at 16% per annum?
(A) 6 years 3 months (B) 6 years 6 months
(C) 4 years 6 months (D) 4 years 3 months

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 Aptitude Simple Interest Questions And Answers with Solutions (English)

Answers
1. [B] 2. [D] 3. [B] 4. [B] 5. [B] 6. [B] 7. [C] 8. [D] 9. [B] 10. [C]
11. [A] 12. [B] 13. [B] 14. [A] 15. [A] 16. [C] 17. [A] 18. [D] 19. [B] 20. [A]

Solution

1. Simple interest for 1 Year = Rs. (1280 1200) = Rs 80

Simple interest for 3 Year = 80 3 = 240
Principal = 1200 240 = 960 Rs.

100.. 100225
2. Time (T) = [ ]= = 3 Years.
15005

200043
3. Simple interest (S.I) = = = 240 Rs.
100 100

4. Simple Interest (S.I) = 17625 15000 = 2625 Rs.

100.. 1002625
Rate = = = 3.5%
150005

5. Let principal = P, & Rate of interest = R%

2
[ ] 2 1
100
Required Ratio = 4 = 4 = 2 =1:2
[ ]
100
(Short tricks) (in other words)
(If time is different T1 & T2, & Rate of interest is same, & principal is also same, then the ratio of
1
simple interest = 2
1 2 1
Required Ratio =2 = 4 =2 = 1:2

250041 100041
6. Amount, he would Pay = [1000 + ]
100 100
` = [1000 + 100 + 40] = 1140 Rs.

1001600
7. Principal = = 10000,
82

8. We need to know the simple interest, principal & time to find the rate.
Since principal is not given, so data is inadequate

9. Simple interest for 2 Years =Rs (11840 10560) = Rs. 1280

1280
Simple interest for 4 Years = 2 4 = 2560
Principal = 10560 2560 = 8000
1002560
Rate of interest = = 8%
48000

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 Aptitude Simple Interest Questions And Answers with Solutions (English)
10016000
10. Principal = = 10000
100+125

3
11. S.I. = Rs[10 100 4] = Rs. 1.20

12. Let sum = , then, S.I. =

100.. 100. 25 1
Rate = = = % = 83 %
12 3

13. S.I. For 5 Years = 1020 720 =300

3002
S.I. For 2 Years = = 120
5

Principal = 720 120 = 600

14. P = Rs.900, S.I. = Rs.81, R = 4.5%

100. 10081.
T= = 9004.5 = 2 years

15. P = R = 8%, S.I. = Rs. 1200

100. 1001200 5
T= = = 2 = 2.5 years
60008

1005400
16. Principal = = 15000
123

202.5100
17. Sum = = 4500
4.5 1
450051
Additional interest = 202.5 = 22.5
100

18. We need to calculate the total amount to be paid by him after 4 years, so it principal + S.I.
50054
So, 500 + = 600
100

19. Let sum = , S.I. = ,

100. 100 25 1
T= = = = 12 2
8 2

20. Let sum = , S.I. = ,

100. 100 25 1
T= = = = 64
16 4

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