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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

Q11. **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:**

  1.  5%
  2.  8%
  3.  12%
  4.  15%

Solution : 12%
Q12. **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?**

  1.  1 : 3
  2.  1 : 4
  3.  2 : 3
  4.  Data inadequate
  5.  None of these

Solution : 2 : 3

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Q13. **A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned?**

  1.  Rs. 35
  2.  Rs. 245
  3.  Rs. 350
  4.  Cannot be determined
  5.  None of these

Solution : Cannot be determined
Q14. **A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 6 p.a for 2 years. Find his gain in the transaction per year.**

  1.  Rs. 112.50
  2.  Rs. 125
  3.  Rs. 150
  4.  Rs. 167.50

Solution : Rs. 112.50

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Q15. > In the question given below consists of a statement and / or a > question and two statements numbered I and II given below it. You have > to decide whether the data provided in the statement(s) is / are > sufficient to answer the given question. Read the both statements and > Give answer. > > (A) if the data in Statement I alone are sufficient to answer the > question, while the data in Statement II alone are not sufficient to > answer the question. Give answer > > (B) if the data in Statement II alone are sufficient to answer the > question, while the data in Statement I alone are not sufficient to > answer the question. Give answer > > (C) if the data either in Statement I or in Statement II alone are > sufficient to answer the question. Give answer > > (D) if the data even in both Statements I and II together are not > sufficient to answer the question. Give answer > > (E) if the data in both Statements I and II together are necessary to > answer the question. **The simple interest on a sum of money is Rs. 50. What is the sum?** **I. The interest rate is 10% p.a.** **II. The sum earned simple interest in 10 years.**

  1.  I alone sufficient while II alone not sufficient to answer
  2.  II alone sufficient while I alone not sufficient to answer
  3.  Either I or II alone sufficient to answer
  4.  Both I and II are not sufficient to answer
  5.  Both I and II are necessary to answer

Solution : Both I and II are necessary to answer
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