Compound Interest (SSC) (Part-3)

Total Questions: 50

21. A sum becomes 1.96 times of itself in 2 years when invested at compound interest (compounding annually). What is the annual rate of interest ? [SSC CHSL 16/03/2023 (4th Shift)]

Correct Answer: (c) 40%
Solution:

22. A sum amounts to Rs. 6580 in 2 years and amounts to Rs. 7896 in 3 years on compound interest (compounding annually) at the same rate of interest. What is the annual rate of interest ? [SSC CHSL 17/03/2023 (4th Shift)]

Correct Answer: (d) 20%
Solution:

23. 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 CGL Tier II (06/03/2023)]

Correct Answer: (b) ₹7,900
Solution:

24. What is the present value of Rs.10,000 received in 2 years, if the interest rate is 12% per year discounted semi-annually? [SSC CGL 09/12/2022 (2nd Shift)]

Correct Answer: (c) Rs.7,920.94
Solution:

25. On a certain sum, the difference between compound interest and simple interest at 10% per annum for 2 years is Rs.250. The sum is _________ . [SSC CPO 09/11/2022 (Morning)]

Correct Answer: (c) Rs.25,000
Solution:

26. Find the difference between the simple interest and the compound interest payable annually on a sum of Rs.6,500 at 7% per annum for 3 years. (Correct to two decimal places.) [SSC CPO 09/11/2022 (Afternoon)]

Correct Answer: (b) Rs.97.78

27. The compound interest (compounding annually) on a certain sum at the rate of 8 percent per annum for two years is ₹6656. What would be the simple interest on the same sum at the same rate of interest for two years? [SSC CGL Tier II (08/08/2022)]

Correct Answer: (c) ₹ 6400
Solution:

28. Arif repaid a loan by paying ₹15,625 after 3 years at a rate of 25% p.a. Compounded annually, what was the amount of the loan ? [Graduate Level 01/08/2022 (Shift-4)]

Correct Answer: (b) ₹8,000
Solution:

29. In how many years will a sum of ₹800 at 30% p.a. compounded half yearly becomes ₹1216.70? [Graduate Level 04/08/2022 (Shift-4)]

Correct Answer: (a) 1.5 years
Solution:

30. A sum of money becomes two times of itself in 8 years at simple interest, and it becomes four times of itself in 2 years at compound interest, when interest is compounded annually. Find the ratio of the rate of simple interest to the rate of compound interest offered per year. [SSC MTS 05/07/2022 (Evening)]

Correct Answer: (d) 1:8
Solution: