This is aptitude questions and answers section on Simple Interest with explanation for various interview, competitive examinations and entrance tests. Contenders are you interested in trying some challenging questions from Simple Interest Quiz? Ok, then test your knowledge and assessment ability through this Simple Interest aptitude Quiz Online Test Questions & Answers practice test papers. Simple Interest Quiz contains new pattern questions and problems from previous year competitive exams. And when it comes to the basics of finance individuals have to learn about simple interest. By practicing the Simple interest Aptitude MCQ will not affect your loans and investments. And also this concept will make you money or lose you money. Simple interest is one of the greatest and the most straightforward idea in finance.

## Simple Interest Online Test - Simple Interest Quiz Details

Contenders to get a bit deeper into Simple Interest Quiz, please look at the below provided Simple Interest questions and answers. Aspirants have to learn more about Simple Interest formulas used to calculate Compound Interest and furthermore. Practicing these questions on Simple Interest helps to gain a good score in the competitive exams or any other exams.

### Simple Interest Aptitude Questions

This Simple Interest Quiz Online Test involves the simple interest formula to find, principal P, amount A, Rate R, Time in years, Simple Interest I. Applicants let's begin and learn about Simple Interest Aptitude Questions and Answers. Contenders can find the Simple Interest formulas in the following section. Must check it once to get an idea and work out on that to obtain a better result.
### Simple Interest Formulae

SI = Simple Interest; A = Amount; P = Principal; T = Time; R = Rate of interest

SI = (P * T * R) / 100

A = P + SI

P = (100 * A) / (100 + RT)

SI = ART / (100 + RT)

P = (100 * SI) / TR

T = (100 * SI) / PR

R = (100 * SI) / PT

### Simple Interest MCQ Quiz Answers

This Simple Interest MCQ Quiz Online Test has been designed to test the people skills. Candidates while attempting the Simple Interest Quiz online test you will be presented Multiple Choice Questions based on related Simple Interest Concepts. And also aspirants will be given four options. On those options, individuals will select the best suitable answer for the question. After that check your answer immediately by tapping on the View Answer Option.

Online Test Name |
Simple Interest |

Exam Type |
Multiple Choice Questions |

Category |
Aptitude Quiz |

Number of Questions |
113 |

Contenders to get a bit deeper into Simple Interest Quiz, please look at the below provided Simple Interest questions and answers. Aspirants have to learn more about Simple Interest formulas used to calculate Compound Interest and furthermore. Practicing these questions on Simple Interest helps to gain a good score in the competitive exams or any other exams.

SI = (P * T * R) / 100

A = P + SI

P = (100 * A) / (100 + RT)

SI = ART / (100 + RT)

P = (100 * SI) / TR

T = (100 * SI) / PR

R = (100 * SI) / PT

106. On a certain sum, the simple interest at the end of 12 ½ years becomes ¾ of the sum. What is the rate percent per annum?
### Answer & Explanation

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Answer: Option C

Explanation:

Let the sum be Rs x.

Then S.I = Rs 3x/4, Time = 25/2 Years

Therefore, Rate = (100 × 3x/4 × 1/x × 2/25) % p.a

= 6 % p.a

107. With a given rate of simple interest the ratio of the principle and amount for a certain period of time is 4: 5. After 3 years with the same rate of interest to the ratio of the principle and amount becomes 5: 7. The ratio of interest per annum is?
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Answer: Option B

Explanation:

After t years. Let P = Rs 4x and amount = Rs 5x

P + S.I for t years = Rs 5x ---(i)

P = [P + S.I for (t + 3) Years] = 5 : 7 = 1 : 7/5

= 4x: (7/5 × 4x) = 4x : 28x/5

Therefore, P + S. I for (t+3) Years = Rs 28x /5---- (ii)

On subtracting, we get
S. I for 3 Years = Rs (28x/5 – 5x)

= Rs 3x/5
S.I on Rs 4x for 3 Years = Rs 3x /5

Therefore, Rate =

108. Rs.1000 is invested at 5 % p.a simple interest if the interest is added to the principle after every 10 years. The amount will become Rs. 2000 After
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Answer: Option B

Explanation:

S. I for 10 Years = Rs (1000 × 5/100 × 10) = Rs 500

Principle after 10 Years becomes = Rs (1000 + 500)

= Rs 1500

S. I on it = Rs (2000 - 1500) = Rs 500

Time = (50000/7500) Years = 6 2/3 Years

Total Time = (10 + 6 2/3) Years = 16 2/3 Years

109. A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:
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110. What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?
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