# Practice Questions & Answers :: HireMee

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## Total Practice Qs: 239+

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41 / 239

**Choose the correct option.**

A trader allows a discount of 5 percent to his customers. What price should he mark on a article the cost price of which is Rs. 800 so as to make clear profit of 25 percent on his outlay?

ARs.1000

BRs.1053

CRs.1200

DRs.11233

**Answer:**** Option B **

**Explanation:**

cp=800 , profit=25%

sp=800 * 125/100=1000

and

sp=marked price * (100-5)/100

1000=marked price * 95/100

marked price = 1052.6 = Rs.1053

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42 / 239

**Choose the correct option.**

A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum?

ARs. 4462.50

BRs. 8032.50

CRs. 8900

DRs. 8925

ENone of these

**Answer:**** Option D **

**Explanation:**

Here is no explanation for this answer

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43 / 239

**Choose the correct option.**

A certain money market account that had a balance of $48,000 during all of last month earned $360 in interest for the month. At what simple annual interest rate did the account earn interest last month?

A7%

B9%

C8%

D8.50%

**Answer:**** Option B **

**Explanation:**

Formula [R = SI*100/(P*T)]

Given P= $48000, SI=$360, T=1/12

So Rate = [360*100/(48000*(1/12))] = 9%.

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44 / 239

**Choose the correct option.**

How long will it take for a sum of money to grow from Rs.1250 to Rs.10,000, if it is invested at 12.5% p.a simple interest?

A26 Years.

B35 Years.

C76 Years.

D56 Years.

**Answer:**** Option D **

**Explanation:**

Simple interest is given by the formula SI = (pnr/100), where p is the principal, n is the number of

years for which it is invested, r is the rate of interest per annum

In this case, Rs. 1250 has become Rs.10,000.

Therefore, the interest earned = (10,000 - 1250) = 8750.

8750 = [(1250*n*12.5)/100]

=> n = 700 / 12.5 = 56 years.

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45 / 239

**Choose the correct option.**

Simple interest on a certain sum is 16/25 of the sum. Find the rate percent and time, if both are numerically equal.

ARate = 8% & Time = 8 years

BRate = 8% & Time = 9 years

CRate = 18% & Time = 8 years

DNone of these

**Answer:**** Option A **

**Explanation:**

Let sum = X. Then S.I. = 16x/25

Let rate = R% and Time = R years.

Therefore, x * R * R/100 = 16x/25 or R^2 = 1600/25, R = 40/5 = 8

So, Rate = 8% and Time = 8 years.

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46 / 239

**Choose the correct option.**

In how much time would the simple interest on a certain sum be 0.125 times the principal at 10% per annum?

A2 3/4 years

B1 1/4 years

C2 1/4 years.

D3 1/4 years.

**Answer:**** Option B **

**Explanation:**

Lets assume sum = x.

Then, S.I. = 0.125x = 1/8 *x, GivenR = 10%

Formula: Time = (100 * S.I)/(P * R)

Time = (100 *1/8* x) / (x * 10) = (100 *x)/(x*8*10)

= 5/4 = 1 1/4 years.

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47 / 239

**Choose the correct option.**

A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?

A3%

B4%

C5%

D6%

ENone of these

**Answer:**** Option D **

**Explanation:**

S.I. = Rs. (15500 ⎯ 12500) = Rs.3000

Rate = [ 100 × 3000 / 12500 × 4 ]% = 6%

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48 / 239

**Choose the correct option.**

Mr. Hamilton invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B?

ARs 6400

BRs 6500

CRs 7200

DRs 7500

ENone of these

**Answer:**** Option A **

**Explanation:**

Let the sum invested in scheme A be Rs. x and that in scheme B be Rs. (13900 ⎯ x)

Then, [ x × 14 × 2 / 100] ÷ [{(13,900 - x) × 11 × 2 } / 100] = 3508

28x ⎯ 22x = 350800 ⎯ (13900 × 22)

6x = 45000

x = 7500

So, sum invested in Scheme B = Rs. (13900 ⎯ 7500) = Rs.6400

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49 / 239

**Choose the correct option.**

A sum of money doubles itself in 10 years. A compound interest is charged on it at x% p.a. with the same rate p.a. it will four-fold itself in -

A15 years

B20 years

C40 years

D30 years

**Answer:**** Option B **

**Explanation:**

Here is no explanation for this answer

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50 / 239

**Choose the correct option.**

Rambo took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If he paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?

A3.6

B6

C18

DData inadequate

ENone of these

**Answer:**** Option B **

**Explanation:**

Let rate = R% and time = R years

Then, [1200

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Here is the list of questions asked in Hiremee Simple and Compound Interest Questions with Solutions. Practice HireMee Written Test Papers with Solutions and take Q4Interview HireMee Online Test Questions to crack HireMee written round test. Overall the level of the HireMee Online Assessment Test is moderate. Only those candidates who clear the written exam will qualify for the next round, so practic all the questions here and take all the free tests before going for final selection process of HireMee

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