Compound Interest (SSC) (Part-3)

Total Questions: 50

1. The difference between compound interest and simple interest on a sum of Rs. 16,000 for two years is Rs. 160. Find the per annum rate of interest. [SSC MTS 02/05/2023 (Morning)]

Correct Answer: (b) 10%
Solution:

2. The difference in simple interest and compound interest on a certain sum of money in 2 years at 3% per annum is 90 paisa. What is the sum (in ₹)? [SSC MTS 03/05/2023 (Evening)]

Correct Answer: (d) Rs. 1000
Solution:

3. If interest is being compounded half yearly, then what sum will amount to Rs. 51840 in 2 years at the rate of 40 percent per annum on compound interest ? [SSC MTS 03/05/2023 (Evening)]

Correct Answer: (a) Rs.25000
Solution:

4. At what rate of compound interest per annum, a sum of Rs 20000 becomes Rs 23152.50 in 1 year 6 months compounded half - yearly? [SSC MTS 04/05/2023 (Afternoon)]

Correct Answer: (a) 10% per annum
Solution:

5. Priya borrowed a certain sum at the rate of 12% per annum. If she paid Rs. 10176 at the end of 2 years as interest compounded annually. What was the sum she borrowed ? [SSC MTS 04/05/2023 (Evening)]

Correct Answer: (d) Rs.40000
Solution:

6. Rs. 20000 is lent at compound interest at an annual rate of 16 percent for 1 year. If the compounding of interest is done half yearly, then how much interest will be obtained? [SSC MTS 08/05/2023 (Evening)]

Correct Answer: (d) Rs. 3328
Solution:

7. On a certain sum, the simple interest for 2 years is Rs. 12000. If the sum is Rs. 12000, then what will be the compound interest (compounding annually) on the same sum at the same rate of interest for the first 3 years ? [SSC MTS 09/05/2023 (Morning)]

Correct Answer: (c) Rs. 28500
Solution:

8. The compound interest (compounding annually) on a certain sum for 2 years at the rate of 60 percent per annum is Rs. 6240. What will be the simple interest on the same sum for 3 years at the same rate of interest ? [SSC MTS 09/05/2023 (Afternoon)]

Correct Answer: (b) Rs. 7200
Solution:

9. At what rate of compound interest (compounding annually) per annum will a sum of Rs.250000 becomes Rs.275625 in 2 years ? [SSC MTS 17/05/2023 (Morning)]

Correct Answer: (d) 5% per year
Solution:

10. Rs. 6000 is lent at the rate of 8 percent per annum on compound interest (compounded quarterly). What will be the compound interest of 6 months? [SSC MTS 17/05/2023 (Evening)]

Correct Answer: (d) Rs.242.4
Solution: