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 2 article candidates can find questions with an answer. By solving this questions candidates can improve and maintain, speed, and accuracy in the exams. Simple Interest Quiz 2 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.

On a certain sum, the simple interest at the end of 5(1/3) years becomes 4/9 of the sum.What is the rate percent ?

A. 5.5% B. 9.1% C. 7.6% D. 8.3%

P is going to pay Rs.700 to Q, 7 months later at 6% annual SI, Q is going to pay Rs.550 to P, 12 months later at 8% annual SI, if they decide to settle the debts, who will pay what amount to whom ?

A. Rs.149 B. Rs.167 C. Rs.155 D. Rs.197

Two equal some of money were invested at an annual rate of 10%, One sum at SI and other at CI, If the difference between the interest after 2 years was Rs.100, What were the sum invested ?

A. 25,000 B. 100000 C. 20,000 D. 10,000

A man invests Rs.8000 for 5 years at 5% p.a. SI interest reckoned yearly. Income tax at the rate of 20% on the interest earned is deducted at the end of each year. Find the amount at the end of the fifth year.

A. Rs.10,500 B. Rs.10,500 C. Rs.9,600 D. Rs.10,000

Ajay bought Rs.11,000 from a bank to buy a car at 12% simple Interest. If he paid $ 6,600 as interest while clearing the loan, find the time for which the loan was given.

A. 7 B. 3 C. 4 D. 5