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Simple Interest Questions Free PDF for SBI PO Pre 2021, CET | SI Problems Download for CET and IBPS Clerk Mains 2021

Direction : Read the following questions carefully and choose the right answer.
1
From a bank, Ram and Shyam together took a certain amount under simple interest and they lent the total amount to Mohan at 2% more simple interest. At the end of 4 years, the total money earned by Ram after paying the interest to the bank was Rs. 400 more than that of Shyam. From the bank, the total amount taken by Ram was how much more than that of Shyam?
» Explain it
C
Let Ram took Rs. a and Shyam took Rs. b

Let the rate of interest was r% per annum

They lent Rs. (a + b) to Mohan at the rate of (r + 2)% per annum

For Ram,

The total interest received on Rs. a = a × 4 ×  r + 2
100

The total interest paid by Ram to the bank = a × r ×  4
100

The total interest earned by Ram after paying the interest to the bank

= a × 4 ×  r + 2  – a × r ×  4  =  8a  ------ (i)
100 100 100

For Shyam,

The total interest received on Rs. b = b × 4 ×  r+ 2
100

The total interest paid by Shyam to the bank = b × r ×  4
100

The total interest earned by Ram after paying the interest to the bank

= b × 4 ×  r + 2  – b × r ×  4  =  8b  ------ (ii)
100 100 100

From the question,

8a  –  8b  = 400
100 100

a – b = 50 × 100 = Rs. 5000

Hence, option C is correct.
2
Aman and Raghav are two friends. Aman started a business with an investment of Rs 7200, while Raghav puts 60% of his salary at 40% p.a simple interest for 6 months; Raghav takes the amount received after 6 months and joins Aman in the business. If Aman receives a profit of Rs. 2000 out of a total profit of Rs. 2900 at the end of 1 year, what was the original salary of Raghav?
» Explain it
C
Ratio of profit = 2000 : 900 = 20 : 9

Let amount invested by Raghav be K

Ratio of investment = 12 × 7200 : 6 × K = 14400 : K = 20 : 9

K = Rs 6480

Let original Salary of Raghav = R

60 %( R) at 40% p.a for 6 months

60  × R ×   40  × 1 = 6480 – 0.6R 
100 200

R = Rs. 9000

Hence, option C is correct.
3
Deepika deposited Rs. 1000 in a fund in 2019 which provides simple interest. The interest rate on the fund increases by  3% every year. If the interest rate at the time of amount deposit was 10%, find the interest earned by her after 9 years. 
» Explain it
E
Amount deposited = Rs. 1000

Interest earned by him after 9 years

=  {1000 × (10 + 13 + 16 + 19 +.... upto 9 terms)}
100

→ Here we can use the formula of Arithmetic Progression,

n  {2a + (n – 1) d}
2

→ 10 ×  [ 9  {2 × 10 + (9 – 1) × 3} ]
2

→ 45 × 44 = 1980

→ Interest earned = Rs. 1980

Hence, option E is correct.
4
Rayan invested a total of Rs.49000 in two different schemes A and B. The scheme A which offers interest at a rate of 5% per annum and scheme B offers interest at a rate of 12%. If the total interest earned by Rayan after 1 year is Rs.4900 then find the sum invested in scheme B.
» Explain it
C
Let the total investment in scheme B be Rs.x, then

(49000 – X) ×  5  + X ×  12  = 4900
100 100

X =  5  × 49000 = Rs. 35000
7

Hence, option C is correct.
5
The salary of a man is Rs. 60000, from which he deposits x% amount at 13% simple interest. If the accumulated amount for the sum deposited after 3 years was Rs. 29190, then find the value of ‘x’. 

A
40
» Explain it
B
According to the question,

(x% of 60000) +  (x% of 60000) × 13 × 3  = 29190
100

600x + 234x = 29190

834x = 29190 ; x = 35

So, the value of ‘x’ = 35

Hence, option B is correct.
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