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Home › Banking › Numerical Ability - Simple Interest (Find Time)

Numerical Ability - Simple Interest (Find Time) — Banking Questions & Practice

Practise 700 Numerical Ability - Simple Interest (Find Time) questions from Banking for competitive exams such as UPSC, Banking, SSC and Railway. Read the worked questions below, check every answer with an explanation, and track what you get wrong.

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Practice questions on Numerical Ability - Simple Interest (Find Time) — with answers

Try each question first, then open the answer. Explanations are included.

1. A loan of Rs. 53,500 taken from a bank at 4% per annum simple interest accumulates an interest of Rs. 12,840.0. Find the time period of the loan.

  1. A4.8 years
  2. B7 years
  3. C5.5 years
  4. D6 years
Show answer

Answer: D

T = (SI x 100)/(P x R) = (12840.0 x 100)/(53500 x 4) = 6.0 years.

2. A loan of Rs. 14,000 taken from a bank at 6% per annum simple interest accumulates an interest of Rs. 3,360.0. Find the time period of the loan.

  1. A3.6 years
  2. B5 years
  3. C4 years
  4. D3.4 years
Show answer

Answer: C

T = (SI x 100)/(P x R) = (3360.0 x 100)/(14000 x 6) = 4.0 years.

3. A loan of Rs. 42,500 taken from a bank at 4% per annum simple interest accumulates an interest of Rs. 3,400.0. Find the time period of the loan.

  1. A2 years
  2. B3 years
  3. C1.6 years
  4. D1.8 years
Show answer

Answer: A

T = (SI x 100)/(P x R) = (3400.0 x 100)/(42500 x 4) = 2.0 years.

4. A loan of Rs. 37,000 taken from a bank at 4% per annum simple interest accumulates an interest of Rs. 4,440.0. Find the time period of the loan.

  1. A4 years
  2. B3 years
  3. C2.7 years
  4. D2.4 years
Show answer

Answer: B

T = (SI x 100)/(P x R) = (4440.0 x 100)/(37000 x 4) = 3.0 years.

5. A loan of Rs. 18,500 taken from a bank at 4% per annum simple interest accumulates an interest of Rs. 5,920.0. Find the time period of the loan.

  1. A6.4 years
  2. B8 years
  3. C7.3 years
  4. D9 years
Show answer

Answer: B

T = (SI x 100)/(P x R) = (5920.0 x 100)/(18500 x 4) = 8.0 years.

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