Quant Booster Dose – Simple Interest Questions PDF
Simple Interest Question PDF with Answers for government exams like SSC, Railways, Banking, FCI, CWC, Insurance Exams, UPSC, and other state PCS exams. As we all know in many competitive exams in Quantitative Aptitude/ Numerical Ability subject Simple Interest Questions asked repeatedly, so you cannot ignore the Simple Interest Questions PDF.
As questions are based on previous year papers, there are chances that candidates will find many questions from the Simple Interest Questions with Answers PDF in all competitive Exams. If you check the last 4-5 year’s papers of SSC, Railways and Banking Exams, you will find that many different types of Simple Interest questions are asked. Today we have compiled “150+ Simple Interest Questions PDF with Answers for SSC, Railway & Banking Exam”. You can download Free Simple Interest Questions with Solution so that you get all the important questions at one place. And it will become very easy for you guys to revise them.
Simple Interest Questions PDF for SSC, Railways and Banking Exams
The ultimate way to begin Numerical Ability Preparation is to have the best Quantitative Aptitude practice questions in your PDF Drive. To ease out your preparation and save you a lot of time, At Let’s Study Together (LST) we understand our student’s requirements and keeping it in mind, So LST Team has compiled the Simple Interest Questions PDF for SSC, Railways and Banking Exams with Detailed Answers’. Get some relevant as well as reliable study material that will guide you well throughout your exam preparation. You can download the Simple Interest Questions with Solution so that you get all the important questions at one place. And it will become very easy for you guys to revise them.
Simple Interest Questions with Answers | Download Free PDF
What is Simple Interest?
Simple interest is a calculation of the interest on the initial investment or principal only. It doesn’t compound, which means that the interest from one period isn’t added to the principal for the next period. In simple interest, only the original sum of money (P) and the interest rate (r) are used in the equation. This results in a single payment at the end of the term.
I = P * r * t
For example: if you have $100 dollars and the interest rate is five per cent, then at the end of one year you would owe $105.
It is called “simple” because it does not consider the effect of compounding, where interest is earned on previously accumulated interest.
Simple Interest Formula
Let us step towards the formulas relating to the topic, as the formulas play a major role in the easy calculation. The formula for S.I. is:
SI = (P× R× T) / 100
- SI stands for Simple Interest.
- P denotes the principal amount. The principal amount(P) is the initial amount invested or borrowed by an individual from the bank.
- R is the interest rate in percentage. The rate at which the principal amount is given to somebody for a certain time stands for the rate of interest.
- T specifies the time duration in years. The duration for which the principal amount is provided to someone denotes the time.
Some concepts that help us understand simple interests are:
- Principal Amount: The initial amount of money invested or borrowed.
- Rate of Interest: The percentage of the principal charged as interest per period (usually per year).
- Time Period: The duration for which the money is invested or borrowed, typically measured in years.
Some other miscllenous tricks related to simple interest are give below:
- If the interest on a sum of money is 1/x of the principal, and the number of years equals the rate of interest, then the rate can be calculated using the formula: r = √(100/x).
- If a sum of money becomes x times its original ammount in t years at simple interest, then the rate is calculated as [100(x – 1)]/t %.
- If a sum of money becomes x times its original amount in t years at a simple rate of interest, then the time is calculated as [100(x – 1)]/R.
- If an amount P1 is lent out at simple interest of R1% per annum and another amount P2 at simple interest rate of R2% per annum, then the rate of interest for the whole sum can be given by:
- R = (P1R1 + P2R2)/(P1 + P2)
Simple Interest Practice Questions with Answers
1. A sum of Rs. 6000 is divided into two parts. The annual simple interest on the first part at the annual rate of 10 percent is equal to the annual simple interest on the second part at the annual rate of 15 percent. How much is the interest on each part for one year?
(a) Rs. 300
(b) Rs. 330
(c) Rs. 360
(d) Rs. 420
(e) None of these
2 . A person borrows a sum of ₹ 50,000 for 3 years at 4% p.a. simple interest. He immediately lends it to another person at 6 ¼% p.a. simple interest for 3 years. Find his gain in the transaction per year.
(a) ₹ 1,125
(b) ₹ 1,135
(c) ₹ 1,122
(d) ₹ 1,025
(e) None of these
3. A sum of ₹9,000 is lent partly at 7% and the remaining at 9% per annum. If the yearly interest on the average is 8.5%, then the sum (in ₹) which is lent at 9% is:
(a) 6,750
(b) 7,000
(c) 2,250
(d) 5,250
(e) None of these
4. The amount obtained by investing a certain sum in 4 ¾% years at 12% p.a.at simple interest is Rs. 2,175 more than the simple interest on the same sum in 11 years at the same rate. The sum (in Rs.) is:
(a) 8,400
(b) 8,700
(c) 8,000
(d) 8, 500
(e) None of these
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5. The simple interest on a certain sum of money for three and a half years at 10% per annum is ₹55 less than the simple interest on the same sum for four and a half years at 9% per annum. What is the sum?
(a) ₹407.40
(b) ₹975
(c) ₹1,000
(d) ₹500
(e) None of these
6. In how many years does a sum of Rs.10,000 yield the simple interest of Rs.1600 at the rate of 8% per annum?
(a) 2 years
(b) 3 years
(c) 4 years
(d) 5 years
(e) None of these
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7. A man took a loan from a bank at the rate of 12% p.a. simple interest. After 3 years, he had to pay Rs. 5,400 as interest. Find the amount borrowed by him.
(a) Rs. 12,000
(b) Rs. 20,000
(c) Rs. 15,000
(d) Rs. 10,500
(e) None of these
8. A sum of money is lent at simple interest, the money gets double in 5 year then the rate of interest is?
(a) 20%
(b) 25%
(c) 15%
(d) 22%
(e) None of these
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9. A invested the amount of Rs. 2x/3 at 7.5% p.a. SI for 2 years and B invested the amount of Rs. x/3 at 5% p.a. SI for 3 years. The interest earned by A is 600 more than the interest earned by B. Find the interest earned by (7x/3) for 3 years at 15% p.a SI.
(a) Rs. 10400
(b) Rs. 11600
(c) Rs. 12600
(d) Rs. 13400
(e) None of these
10. A sum of Rs. x is invested at 18% simple interest for 3 years and the interest received is Rs. y. If Rs. (10y-2400) is invested at 20% simple interest for 6 years and the interest received is Rs. 6x. Find the number of years when the simple interest received is Rs. 2956.8 at 8% interest rate for a sum of Rs. (x + y).
(a) 1
(b) 4
(c) 3
(d) 5
(e) None of these
All the Simple Interest questions are formulated as per the level of Bank PO exams. The Simple Interest questions in this PDF has a moderate and hard level of difficulty. All the candidates who are preparing for banking exams are advised to practice all these important questions to score well in the exam. To remove any doubt or difficulty in any topic, go through the study notes of each topic from the links given above.
Why Quantitative Aptitude Simple Interest Questions PDF is Important for Exams?
- All the questions prepare by Exams experts.
- The practice questions covered are across the levels i.e. Easy, Moderate, and Difficult.
- Provides a detailed approach to the solution of each question.
- Focuses on all the new patterns and advanced-level type questions.
- Simple Interest Questions PDF boosts confidence and reduces pre-exam jitters by regularly attempting a variety of questions and tackling the difficulty level expected in the final exam.
This Quant Booster Dose Simple Interest Questions PDF is useful for the upcoming Banking and Insurance exams i.e. IBPS PO, SBI PO, Clerk, IBPS RRB PO & Clerk, RBI Assistant, RBI Grade B, NABARD, LIC AAO, SSC (CGL, CHSL, MTS, CPO, and Constable), Railway RRB (NTPC, Group D, JE, ALP) & Other Government Exams.
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Here we are providing you with New Pattern Quantitative Aptitude Quizzes (Simple Interest Questions) for SSC, Railway & Banking Exam, based on the latest pattern of your daily practice.
| Practice Set- 1 | Practice Set- 2 | Practice Set- 3 |
| Practice Set- 4 | Practice Set- 5 | Practice Set- 6 |
| Practice Set- 7 | Practice Set- 8 | Practice Set- 9 |
| Practice Set- 10 | More…… | Complete Quant Study Material |
We hope the given Quantitative Aptitude Topic-wise Questions and Answers PDF will be helpful for their competitive exams like bank exams and other recruitment board exams. So candidates can utilize our Quantitative Aptitude Topic-wise PDF Download for their effective preparation to score more marks in upcoming competitive exams.
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