This set of Aptitude Questions and Answers (MCQs) focuses on “Simple Interest – Set 2”.
1. A man invested x rupees for y years at 10% simple interest per annum. If the interest after 2y years is 4x, find the value of y.
a) 10
b) 20
c) 40
d) 15
View Answer
Explanation: The interest after 2y years = 2y * 10 * x / 100 = 4x
y = 40x / 2x = 20
2. A man invested 5000 rupees at x% simple interest for 5 years. After 5 years the interest was 1.15 times the amount invested. Find the value of x.
a) 20
b) 21
c) 22
d) 23
View Answer
Explanation: The interest after 5 years = 5000 * x / 100 * 5 = 1.15 * 5000 = 5750
5000 * x / 100 * 5 = 5750, x = 5750 / 250 = 23
X = 23
3. A man invested 5400 rupees at 4.8% simple interest for x years. If after x years the interest was 1.25 times the amount invested, find the value of x.
a) 24
b) 25
c) 26
d) 27
View Answer
Explanation: The interest after x years = 5400 * 4.8 * x / 100 = 1.25 times of 5400 = 6750
5400 * 4.8 * x / 100 = 6750, 259.2x = 6750, x = 6750 / 259.2 = 26.04 ≈ 26
4. A man invested x rupees for y years at 1.2% simple interest. If after y years, the interest earned is 0.20 times of the amount invested, find the value of y.
a) 16.66
b) 17.77
c) 18.88
d) 19.99
View Answer
Explanation: The interest after y years = x * y * 1.2 / 100 = 0.20x
1.2y = 20, y = 20 / 1.2 = 16.66
5. A man invested 5000 at a rate of x% simple interest that earns 125 rupees interest per annum. Find the interest on 12500 rupees for 2 years at the same interest percentage.
a) 625 rupees
b) 900 rupees
c) 1250 rupees
d) 1600 rupees
View Answer
Explanation: The interest on 5000 rupees for an annum = 125 rupees
5000 * x / 100 * 1 = 125 rupees, x = 125 / 50 = 2.5%
The interest percentage = 2.5%
The interest on 12500 rupees for 2 years = 12500 * 2 * 2.5 / 100 = 625 rupees
6. A man invested 12450 rupees at 1.2% simple interest for 2.5 years. The interest earned is what percentage of the amount invested.
a) 3%
b) 3.7%
c) 5%
d) 5.3%
View Answer
Explanation: The interest earned = 12450 * 1.2 * 2.5 / 100 = 373.5 rupees
Percentage earning = 373.5 / 12450 * 100 = 3%
7. A man invested 3450 rupees at 3.5% simple interest for x years. If the amount tripled itself in x years, find the value of x.
a) 57.14 years
b) 57.28 years
c) 57.35 years
d) 57.77 years
View Answer
Explanation: The amount tripled itself in 3 years, this implies that the interest on the amount for x years is twice the amount.
The interest in x years = 3450 * 3.5 * x / 100 = 2 * 3450
X = 57.14 years
8. A man invested a sum of 98000 rupees for 14 years at x% simple interest. If the interest for 14 years is 400% of the amount invested, find the value of x.
a) 23.35
b) 25.57
c) 27.85
d) 28.57
View Answer
Explanation: The interest for 14 years = 4 times the amount invested = 4 * 98000 = 392000
The interest = 98000 * 14 * x / 100 = 392000, x = 28.57
9. A man invested a sum of x rupees for y months at a rate of 5% per month simple interest. Find the time in which the sum will double itself.
a) 20 months
b) 1.5 years
c) 24 months
d) 1.8 years
View Answer
Explanation: The interest earned in y months = x * y * 5 / 100 = x
Y * 5 / 100 = 1, y = 100 / 5 = 20 months
10. A man invested 12% of his income at a rate of 0.0025% simple interest of the amount he invested for 23 years. If the man earns 25000 rupees, find the interest after 23 years, as a percentage of the amount he invested.
a) 150%
b) 172.5%
c) 190%
d) 222.5%
View Answer
Explanation: The amount he invested = 12% of his earnings = 12% of 25000 = 3000 rupees
The interest rate = 0.0025% of the amount he invested = 0.0025% of 3000 = 7.5%
The interest after 23 years = 3000 * 7.5 * 23 / 100 = 5175 rupees
The interest as a percentage of the amount he invested = 5175 / 3000 * 100 = 172.5%
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