Exams › IBPS PO › Quantitative Aptitude

The simple interest on ₹1000 at 10% per annum for 2 years is?

1. ₹100
2. ₹200
3. ₹250
4. ₹150

Correct answer: ₹200

Solution

Simple interest = \(\frac{P \times R \times T}{100}\) = \(\frac{1000 \times 10 \times 2}{100}\) = 200. So the interest is ₹200.

Related IBPS PO Quantitative Aptitude questions

• A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is:
• Mr. Thomas invested an amount of Rs. 13,900 divided into two different schemes A and B at simple interest rates of 14% p.a. and 11% p.a. respectively. If the total simple interest earned in 2 years is Rs. 3508, what was the amount invested in Scheme B?
• A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9% per annum in 5 years. What is the sum?
• How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum simple interest?
• Reena took a loan of Rs. 1200 at simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?
• The banker's gain on a certain sum due 2 years hence at 10% per annum is Rs. 24. The present worth is:

⚔️ Practice IBPS PO Quantitative Aptitude free + battle 1v1 →