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

31. What amount does Kiran get if he invests Rs. 18000 at 15% p.a. simple interest for four years?
### Answer & Explanation

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Answer: Option D

Explanation:

Simple interest = (18000 * 4 * 15)/100 = Rs. 10800

Amount = P + I = 18000 + 10800 = Rs. 28800

32. How much interest can a person get on Rs. 8200 at 17.5% p.a. simple interest for a period of two years and six months?
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Answer: Option C

Explanation:

I = (8200 * 2.5 * 17.5)/100 = (8200 * 5 * 35)/(100 * 2 * 2) = Rs. 3587.50

33. In how many years does a sum of Rs. 5000 yield a simple interest of Rs. 16500 at 15% p.a.?
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34. A certain sum becomes Rs. 20720 in four years and 24080 in six years at simple interest. Find sum and rate of interest?
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Answer: Option B

Explanation:

Let the interest for one year be x.

As amount = Principal + Interest, we have

P + 4x = 20720 --- (1) ; P + 6x = 24080 --- (2)

Solving the equations (1) and (2), we can get

P = Rs. 14000 and x = Rs. 1680

Interest for one year on Rs. 14000 is Rs. 1680

So, R = (100 * 1680)/(14000 * 1) = 12% p.a.

35. A sum of money triples itself in twelve years at simple interest. Find the rate of interest?
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Answer: Option E

Explanation:

Let the pricipal be Rs. x, then amount = 3x(where R = rate of interest) => Interest = 3x - x = Rs. 2x

R = (100 * 2x)/(x * 12) = 50/3 % = 16 2/3 %