Sample Questions on Quantitative Aptitude for SBI Associate Bank Clerk Exam 2012 : Simple Interest

Aug 18, 2012 04:35 IST

The Written Examination of the upcoming SBI Associate Bank Clerk Exam to be conducted on 7 October & 14 October 2012 will consist of one objective type paper based on five parts namely:

a)General Awareness
b)General English
c)Quantitative Aptitude
d)Reasoning Ability
e)Marketing Aptitude/ Computer Knowledge

Quantitative Segment Questions are framed to test how capable are the aspirants in appropriately using numbers.The scope of the test will be computation of whole numbers, decimals, fractions & relationships between numbers;percentage & ratio, time & distance; profit, loss & discount; Simple Interest & Compound Interest; Ratio & Proportion etc.

Shweta Shrivastava, an expert at jagranjosh has prepared some important sample Questions on the concept of "Simple Interest" from the Quantitative Aptitude segment.

Simple interest is the most basic type of interest.It is the amount of money paid on a loan.If a person X borrows some money from another person Y for a certain period, then after that specified period, X (borrower) has to return the borrowed money with some additional money.This additional money that X (borrower) has to pay is called Interest. The actual borrowed money is called Principal or Sum. The Principle and interest together is called amount, and the time for which X the borrower has been used the borrowed money is called the time. The interest that X has to pay for every 100 rupees each year is called rate percent per annum.If the interest on a sum borrowed for a certain period is reckoned uniformly, then it is called Simple Interest and it is denoted by S.I.


Let Principle = P, Rate =R% per annum, and Time = T years. Then

                                  S.I. = ((P ×R ×T)/100)

Find here the Sample Questions on "Simple Interest"