What is simple interest? Simple interest is a quick and easy method of calculating the interest charge on a loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.
Important Formulae :
1. Simple interest(S.I) = [latex]\frac{principal(P) \times rate(R) \times time(T)}{100}[/latex]
2. Principal(P) = [latex]\frac{100 \times Simple interest}{Rate \times time}[/latex]
3. Rate = [latex]\frac{100 \times Simple interest}{principal \times time}[/latex]
4. Time = [latex]\frac{100 \times Simple interest}{principal \times rate}[/latex]
5. Amount = Principal+ simple interest (or) Amount = P(1 + [latex]\frac{R \times T}{100} [/latex])
Simple Interest is one of important topic in Quantitative Aptitude Section. In Simple Interest Quiz 4 article candidates can find questions with answer. By solving this questions candidates can improve and maintain, speed, and accuracy in the exams. Simple Interest Quiz 4 questions are very useful for different exams such as IBPS PO, Clerk, SSC CGL, SBI PO, NIACL Assistant, NICL AO, IBPS SO, RRB, Railways, Civil Services etc.

Suresh lends 40% of his money at 15% p.a, 50% of the rest at 10% per annum and the rest at 18% p.a. rate of interest. What would be the annual rate of interest, if the interest is calculated on the whole sum?

A. 18.5% B. 14.4% C. 16.5% D. 19.5%

Ajay borrows Rs 1000 at the rate of 12% per annum S.I. and Babu borrows Rs 1050 at the rate of 10% per annum simple interest. In how many years will their amounts of debts be equal?

A. [latex]\frac {18}{5}[/latex] B. [latex]\frac {10}{3}[/latex] C. [latex]\frac {22}{3}[/latex] D. [latex]\frac {10}{5}[/latex]

A sum of Rs. 8800 is to be divided among three brothers A, D and R in such a way that S.I. on each part at 5% p.a. after 1, 2 and 3 year respectively remains equal. The share of A is more than that of R by?

A. Rs. 3200 B. Rs. 2500 C. Rs. 3000 D. Rs. 2700

Mayank invested a certain sum of money in a S.I. bond, that value grew to Rs. 300 at the end of 3 year and to Rs. 400 at the end of another 5 year. Then what was the rate of interest in which he invested his sum?

A. 12% B. 12.5% C. 6.67% D. 8.33%

A borrows Rs.7000 at S.I. from a lender. At the end of 3 years, A again borrows Rs.3000 and settled that amount after paying Rs.4615 as interest after 8 years from the time A made the first borrowing. What is the rate of interest?

A. 5.5% B. 9.5% C. 7.5% D. 6.5%