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Simple and Compound Interest

Simple and Compound Interest: Difference between simple and compound interest, Simple Interest Formula and Compound Interest Formula, Simple Interest Questions

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Online Aptitude Questions with Answers on Simple and Compound Interest

Q1. **A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is:**

  1.  Rs. 650
  2.  Rs. 690
  3.  Rs. 698
  4.  Rs. 700

Solution : Rs. 698
Q2. **Mr. Thomas invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B?**

  1.  Rs. 6400
  2.  Rs. 6500
  3.  Rs. 7200
  4.  Rs. 7500

Solution : Rs. 6400

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Q3. **A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum?**

  1.  Rs. 4462.50
  2.  Rs. 8032.50
  3.  Rs. 8900
  4.  Rs. 8925
  5.  None of these

Solution : Rs. 8925
Q4. **How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annul of simple interest?**

  1.  3.5 years
  2.  4 years
  3.  4.5 years
  4.  5 years

Solution : 4 years

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Q5. **Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?**

  1.  3.6
  2.  6
  3.  18
  4.  Cannot be determined
  5.  None of these

Solution : 6
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