Simple interest questions and answers for competitive exams

Simple interest questions and answers for SSC bank exams:

9. 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?

(a) Rs.35

(b) Rs. 245

(c) Rs. 350

(d) cannot be determined

(e) None of these

10. In how many years, Rs 150 will produce the same interest@8 % as Rs. 800 produce in 3 years @ 4%?

(a) 6

(b) 8

(c) 9

(d)12

11. A sum invested at 5% simple interest per annum grows to Rs. 504 in 4 years. The same amount at 10 % simple interest per annum in years will grow to:

(a) Rs. 420

(b) Rs. 450

(c) Rs. 525

(d) Rs. 550

12. 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?

(a) 1 : 3

(b) 1 : 4

(c) 2 : 3

(d) Date inadequate

(e) None of these

13. Nitin borrowed some money at the rate of 6% p.a for the first three years, 9 % p.a for the next five years and 13 % p.a for the period beyond eight years. If the total interest paid by him at the end of eleven years is Rs. 8160, how much money did he borrow?

(a) Rs. 8000

(b) Rs. 10,000

(c) Rs. 12,000

(d) Rs. 1500

(e) Data inadequate

14. An automobile financier claims to be lending money at simple interest, but he includes the interest every six month for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes:

(a) 10 %

(b) 10.25 %

(c) 10.5 %

(d) None of these

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15.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 650

(b) Rs 690

(c) Rs 698

(d) Rs 700

16. 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) 5 %

(b) 8 %

(c) 12 %

(d) 15 %

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