State Exam — Quantitative Aptitude — Simple Interest
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in Simple Interest
Q.1
Easy
Simple Interest
Rajesh invested ₹5,000 at a simple interest rate of 8% per annum for 3 years. How much total amount will he receive after 3 years?
Correct Answer: A. ₹6,200
Explanation:
Step 1: Use SI formula: SI = (P × R × T) / 100.
Step 2: SI = (5000 × 8 × 3) / 100 = 120000 / 100 = ₹1,200.
Step 3: Total Amount = Principal + SI = 5000 + 1200 = ₹6,200.
So option A is correct.
Q.2
Easy
Simple Interest
At what rate of simple interest per annum will ₹8,000 amount to ₹9,600 in 2 years?
Correct Answer: B. 10%
Explanation:
Step 1: Find SI = Amount - Principal = 9600 - 8000 = ₹1,600.
Step 2: Use SI = (P × R × T) / 100, so 1600 = (8000 × R × 2) / 100.
Step 3: 1600 = 160R, therefore R = 10%.
So option B is correct.
Q.3
Easy
Simple Interest
In how many years will ₹12,000 become ₹15,600 at 6% simple interest per annum?
Correct Answer: B. 5 years
Explanation:
Step 1: Find SI = 15600 - 12000 = ₹3,600.
Step 2: Use SI = (P × R × T) / 100, so 3600 = (12000 × 6 × T) / 100.
Step 3: 3600 = 720T, therefore T = 5 years.
So option B is correct.
Q.4
Easy
Simple Interest
Priya lent ₹10,000 to her friend at 5% simple interest per annum. After 2.5 years, how much interest will she receive?
Correct Answer: B. ₹1,250
Explanation:
Step 1: Use SI formula: SI = (P × R × T) / 100.
Step 2: SI = (10000 × 5 × 2.5) / 100 = 125000 / 100 = ₹1,250.
Step 3: The interest earned is ₹1,250.
So option B is correct.
Q.5
Easy
Simple Interest
At what rate of simple interest per annum will ₹2,400 become ₹2,928 in 2 years?
Correct Answer: B. 11% p.a.
Explanation:
Step 1: Interest = 2,928 - 2,400 = ₹528.
Step 2: Using SI = (P × R × T) / 100, we get 528 = (2,400 × R × 2) / 100.
Step 3: 528 = 48R, so R = 11% p.a.
Option B is correct.
Q.6
Easy
Simple Interest
In how many years will ₹3,600 amount to ₹4,392 at 11% simple interest per annum?
Correct Answer: A. 2 years
Explanation:
Step 1: Interest = 4,392 - 3,600 = ₹792.
Step 2: Using SI = (P × R × T) / 100, we get 792 = (3,600 × 11 × T) / 100.
Step 3: 792 = 396T, so T = 2 years.
Option A is correct.
Q.7
Easy
Simple Interest
Priya borrowed ₹8,000 from a moneylender at 15% simple interest per annum. If she paid ₹3,600 as interest, for how long did she borrow the money?
Correct Answer: C. 3 years
Explanation:
Using SI = (P × R × T) / 100, we have 3,600 = (8,000 × 15 × T) / 100.
Step 1: 3,600 = 1,200T.
Step 2: T = 3,600 / 1,200 = 3 years.
Option C is correct.
Q.8
Easy
Simple Interest
Rajesh borrowed ₹8000 from a bank at a simple interest rate of 6% per annum for 3 years. How much total amount will he have to repay?
Correct Answer: A. ₹9440
Explanation:
Step 1: Use SI formula = (P × R × T) / 100.
Step 2: SI = (8000 × 6 × 3) / 100 = 144000 / 100 = ₹1440.
Step 3: Total Amount = Principal + SI = 8000 + 1440 = ₹9440.
Q.9
Easy
Simple Interest
At what rate of simple interest per annum will ₹5000 amount to ₹6500 in 5 years?
Correct Answer: B. 6%
Explanation:
Step 1: SI = Amount - Principal = 6500 - 5000 = ₹1500.
Step 2: Use SI = (P × R × T) / 100, so 1500 = (5000 × R × 5) / 100.
Step 3: 1500 = 250R, therefore R = 1500 / 250 = 6% per annum.
Q.10
Easy
Simple Interest
Priya invested ₹12000 at 8% simple interest per annum. In how many years will the interest earned be equal to the principal?
Correct Answer: D. 12.5 years
Explanation:
Step 1: We need SI = P, so SI = ₹12000.
Step 2: Using SI = (P × R × T) / 100, we get 12000 = (12000 × 8 × T) / 100.
Step 3: 12000 = 960T, therefore T = 12000 / 960 = 12.5 years.