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Simple Interest Questions for CTET

Oct 11, 2017 12:18 IST
Simple Interest Questions for CTET
Simple Interest Questions for CTET

1. How much time will it take for an amount of Rs. 900 to yield Rs. 81 as interest at 4.5% per annum of simple interest?

a. 2 years
b. 3 years
c. 1 year
d. 4 years

Answer: a

2. Arun took a loan of Rs. 1400 with simple interest for as many years as the rate of interest. If he paid Rs.686 as interest at the end of the loan period, what was the rate of interest?

a. 8%
b. 6%
c. 4%
d. 7%

Answer: d

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

a. Rs. 700
b. Rs. 690
c. Rs. 650
d. Rs. 698

Answer: d

4. A sum fetched a total simple interest of Rs. 929.20 at the rate of 8 p.c.p.a. in 5 years. What is the sum?

a. Rs. 2323
b. Rs. 1223
c. Rs. 2563
d. Rs. 2353

Answer: a

5. 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?

a. Rs. 6400
b. Rs. 7200
c. Rs. 6500
d. Rs. 7500

Answer : a

6. A person borrows Rs.5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 61⁄4% p.a for 2 years. Find his gain in the transaction per year.

a. Rs. 167.50
b. Rs. 150
c. Rs. 225
d. Rs. 112.50

Answer:  d

7. What will be the ratio of simple interest earned by certain amount at the same rate of interest for 5 years and that for 15 years?

a. 3 : 2
b. 1 : 3
c. 2 : 3
d. 3 : 1

Answer: b

8. 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

a. 15%
b. 12%
c. 8%
d. 5%

Answer: b

9. A certain amount earns simple interest of Rs. 1200 after 10 years. Had the interest been 2% more, how much more interest would it have earned?

a. Rs. 25
b. None of these
c. Rs. 120
d. Cannot be determined

Answer: d

10. A man took loan from a bank at the rate of 8% p.a. simple interest. After 4 years he had to pay Rs. 6200 interest only for the period. The principal amount borrowed by him was:

a. Rs. 17322
b. Rs. 20245
c. Rs. 1823
d. Rs. 19375

Answer: d

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