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Home Aptitude Simple Interest Comments

  • Question
  • A bank offers 9% p.a. simple interest on an investment. At the end of 4 years the interest earned was $215. How much was invested?


  • Options
  • A. 597.22
  • B. 345
  • C. 456
  • D. 378

  • Correct Answer
  • 597.22 

    Explanation

    I = (p x r x t)/100

     

     

     

     

  • Tags: Bank Exams, Bank PO

    Simple Interest problems


    Search Results


    • 1. Simple interest on a sum for 5 years is equal to 20% of the principal. In how many years interest will be equal to the principal?

    • Options
    • A. 20
    • B. 25
    • C. 15
    • D. 16
    • Discuss
    • 2. Simple interest on a sum for six months at 5% per annum is Rs 65.5.What is the value (in Rs) of sum ?

    • Options
    • A. 2600
    • B. 2620
    • C. 1320
    • D. 2880
    • Discuss
    • 3. What is the difference (in Rs) in Compound interest earned in 1 year on a sum of Rs 10,000 at 40% per annum compounded quarterly and annually?

    • Options
    • A. 461
    • B. 346
    • C. 463
    • D. 641
    • Discuss
    • 4. A certain bank offers 8% rate of interest on the 1st year and 9% on the 2nd year in a certain fixed deposit scheme. If Rs 17,658 are received after investing for 2 years in this scheme, then what was the amount (in Rs) invested?

    • Options
    • A. 16000
    • B. 15000
    • C. 15500
    • D. 16500
    • Discuss
    • 5. A sum of Rs. 4000 is lent out in two parts, one at 8% simple interest and the other at 10% simple interest. If the annual interest is Rs. 352. The sum lent at 8% is

    • Options
    • A. Rs. 2900
    • B. Rs. 2200
    • C. Rs. 2400
    • D. Rs. 3100
    • Discuss
    • 6. An amount of $255 was invested at 8.5% p.a. How long will it take, to the nearest year, to earn $86.70 in interest?

    • Options
    • A. 2years
    • B. 3years
    • C. 4years
    • D. 5years
    • Discuss
    • 7. Jaclyn buys $50 000 worth of debentures in a company. She earns 9.5% p.a. simple interest, paid to her quarterly (that is, every 3 months). If the agreed period of the debenture was 18 months: calculate the amount of interest Jaclyn will earn for each quarter

    • Options
    • A. 1187.50
    • B. 1234
    • C. 1289
    • D. 1345
    • Discuss
    • 8. Townbank offers a term deposit account paying investors 12.5% p.a. simple interest on investments over $100 000 for 2 years or more. Peta decides to invest $150 000 in this account for 2 years. How much interest will Peta earn at the end of the investment?

    • Options
    • A. 57500
    • B. 47500
    • C. 37500
    • D. 67500
    • Discuss
    • 9. An investment bond is offered to the public at 9% p.a. Louise buys a bond worth $2000 that will mature in 2 years. How much in total will Louise receive at the end of the 2 years?

    • Options
    • A. 3360
    • B. 2360
    • C. 4360
    • D. 5360
    • Discuss
    • 10. A sapphire ring with a marked price of $1800 is offered to the purchaser on the following terms: $200 deposit and the balance to be paid over 24 equal monthly instalments with interest charged at 11.5% p.a. flat rate. Find the monthly repayments

    • Options
    • A. $53
    • B. $42
    • C. $62
    • D. $82
    • Discuss


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