Compound Interest (SSC) (Part-2)

Total Questions: 50

1. A sum of ₹1,00,000 was taken from a bank at the rate of 7% p.a to be compounded annually for 5 years. Calculate the compound interest. (Closest to a ₹) [SSC CPO 03/10/2023 (2nd Shift)]

Correct Answer: (d) ₹40,255
Solution:

2. A sum of money was invested at 10% interest per year, compounded half-yearly, for 18 months. If the amount payable on maturity was ₹64,827, what was the sum invested? [SSC CPO 04/10/2023 (1st Shift)]

Correct Answer: (d) ₹56,000
Solution:

3. Peter invested a certain sum of money in a scheme paying 10% simple interest per annum, while Rachel invested half of the sum that Peter invested in a scheme paying 10% interest per annum compounded annually. Also, while Peter invested for 2 years, Rachel invested for 3 years. If the difference in the interest earned by Peter and Rachel was ₹897, what was the sum that Rachel had invested? [SSC CPO 04/10/2023 (2nd Shift)]

Correct Answer: (b) ₹13,000
Solution:

4. If interest be compounded half-yearly, then find the compound interest on ₹8,000 at 20% p.a. for 1 year. [SSC CPO 05/10/2023 (1st Shift)]

Correct Answer: (b) ₹1680
Solution:

5. Find the amount (integral value only) if a sum of ₹6,500 is being borrowed at 10% interest per annum for 2 years if interest is compounded half-yearly. [SSC CPO 05/10/2023 (2nd Shift)]

Correct Answer: (a) ₹7900
Solution:

6. Geeta deposited a certain sum of money in her bank account which amounted to ₹27,783 in 3 years at 5% per annum, the interest being compounded annually. What amount did she deposit? [SSC MTS 01/09/2023 (1st Shift)]

Correct Answer: (d) ₹24,000
Solution:

7. A sum of money becomes ₹6,400 in 3 years and ₹8,100 in 5 years on compound interest compounded annually. Find the rate of interest per annum. [SSC MTS 01/09/2023 (2nd Shift)]

Correct Answer: (b) 12 ⁴⁄₈
Solution:

8. The difference in interests earned on ₹1,50,000 at an 8% rate of interest per annum in a year when the interest in compounded semi-annually and annually, respectively, is ₹ _______ . [SSC MTS 01/09/2023 (3rd Shift)]

Correct Answer: (c) 240
Solution:

9. At what rate of interest per annum, compounded annually, will an amount of ₹8,000 yield a compound interest of ₹904.2 in 2 years? [SSC MTS 04/09/2023 (1st Shift)]

Correct Answer: (d) 5.5%
Solution:

10. Find the compound interest (Compounded annually) on ₹2,000 for 1/2 years at 10% per annum. [SSC MTS 04/09/2023 (2nd Shift)]

Correct Answer: (d) 541
Solution: