Quant New Pattern Questions for SBI PO

As we all know SBI PO is here and we are ready with the 80 days plan in which we provide you daily quizzes on new pattern questions with different topics that will help you to go through this exam.

So, here we are with the Most important questions of Simple Interest.

Q1. Vishwas borrowed a total amount of Rs. 30,000 part of it on simple interest, rate of 12 p.c.p.a. and remaining on simple interest rate of 10 p.c.p.a. If at the end of 2 years he paid in all Rs. 36,480 to settle the loan amount, what was the amount borrowed at 12 p.c.p.a.?

(a) Rs. 16000

(b) Rs. 18000

(d) Rs. 12000

(e) None of these

Q2. Shamita took a loan at simple interest rate of 6 p.c.p.a. in the first year and it increased by 1.5 p.c.p.a. every year. If she pays Rs. 8,190 as interest at the end of 3 years, what was her loan amount?

(a) Rs. 36000

(b) Rs. 35400

(d) Cannot be determined

(e) None of these

Q3. Ravi borrowed some money at the rate of 4 p.c.p.a. for the first three years, at the rate of 8 p.c.p.a. for the next two years and at the rate of 9 p.c.p.a. or the period beyond 5 years. If he pays a total simple interest of Rs. 19,550 at the end of 7 years, how much money did he borrow?

(a) Rs. 39,500

(b) Rs. 42,500

(d) Rs. 43,000

(e) None of these

Q4. Mr. A lends 40% of sum at 15% p.a. 50% of rest sum at 10% p.a. and the rest at 18% p.a. rate of interest. What would be the rate of interest if the interest is calculated on the whole sum?

(a) 13.4% p.a.

(b) 14.33% p.a.

(d) 13.33% p.a.

(e) None of these

Q5. A certain amount earns simple interest of Rs. 1,750/ - after 7 years. Had the interest been 2% more, how much more interest would it have earned?

(a) Rs. 35/-

(b) Rs. 350/-

(d) Cannot be determined

(e) None of these

Q6. A sum of money at simple interest amounts to Rs. 14,160 in 3 years. If the rate of interest is increased by 25%, the same sum amounts to Rs. 14,700 in the same time. The rate of interest is

(e) None of these

Q7. A computer is available for Rs. 39000 cash or Rs. 17000 as cash down payment followed by five monthly installments of Rs. 4800 each. What is the rate of interest per annum under the installment plant?

(a) 35.71%

(b) 37.71%

(d) 38.71%

(e) None of these

Q8. Sumit lent some money to Mohit at 5% per annum simple interest. Mohit lent the entire amount to Birju on the same day at 8 1/2% per annum. In this transaction after a year, Mohit earned a profit of Rs. 350. Find the sum of money lent by Sumit to Mohit.

(a) Rs. 10000

(b) Rs. 9000

(d) Rs. 8000

(e) None of these

Q9. Two equal sums of money are lent at the same times at 8% and 7% per annum simple interest. The former is recovered 6 months earlier than the latter and the amount in each case is Rs. 2560. The sums of money are lent out are :

(a) Rs. 2000

(b) Rs. 1500

(d) Rs. 3000

(e) None of these

Q10. Sultan took a loan from the bank at 8% per annum, and was supposed to pay a sum of Rs. 2240 at the end of 4 years. If the same sum is cleared off in four equal annual installments at the same rate, the amount of annual installment will be

(a) Rs. 500

(b) Rs. 550

(d) Rs. 1000

(e) None of these

Q11. An automobile financier claims to be lending money at simple interest but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes

(b) 10.25%

(d) 10.35%

(e) None of these

Q12. A sum of Rs. 7700 is to be divided among three brothers Sunil, Sumant and Surat in such a way that simple interest on each part at 5% per annum after 1, 2 and 3 yr respectively remains equal. The share of Sunil is more than that of Surat by:

(a) Rs. 2800

(b) Rs. 2500

(d) Rs. 2700

(e) None of these

Q13. If Rs. 1000 be invested at interest rate of 5% and the interest be added to the principal after 10 yr, then the number of years in which it will amount to Rs. 2000 is

(a) 16.67 yr

(b) 16.25 yr

(d) 11 yr

(e) None of these

Q14. Prem invested a certain sum of money in a simple interest bond whose value grew to Rs. 300 at the end of 3 yr and to Rs. 400 at the end of another 5 yr. What was the rate of interest in which he invested his sum?

(e) None of these

Q15. A person invested some amount at the rate of 12% simple interest and a certain amount at the rate of 10% simple interest. He received yearly interest of Rs. 130. But if he had interchanged the amounts invested, he would have received Rs. 4 more as interest. How much did he invest at 12% simple interest?

(a) Rs. 700

(b) Rs. 500

(d) Rs. 400

(e) None of these

Answers will be updated soon....

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