Compound Interest (SSC) (Part-3)

Total Questions: 50

31. Rs 15000 is lent for one year at the rate of 20% per annum, the interest being compounded annually. If the compounding of the interest is done half-yearly, then how much more interest will be obtained at the end of the one-year period on the same initial sum ? [SSC MTS 19/07/2022 (Morning)]

Correct Answer: (c) 150
Solution:

32. The difference between the compound interest and simple interest on a sum of ₹2,500 for 2 years is ₹100. Find the rate of interest per annum, if the nominal rate of interest per annum is the same for both simple and compound interest, and in the case of compound interest, the interest is compounded annually. [SSC MTS 19/07/2022 (Afternoon)]

Correct Answer: (c) 20%
Solution:

33. A sum invested at a certain rate of interest per annum, compounded annually, amounts to 14400 in 2 years and to 25,920 in 4 years. What is the sum invested? [SSC MTS 21/07/2022 (Morning)]

Correct Answer: (d) Rs 8000
Solution:

34. The effective annual rate of interest, corresponding to a nominal rate of 6% per annum, compounded half-yearly is: [SSC CHSL 07/06/2022 (Evening)]

Correct Answer: (b) 0.0609
Solution:

35. Ramesh bought a house for ₹2,00,000. At the end of the first year, he sold it at a loss of 10% on his investment. He invested the money thus obtained at a rate of 20% p.a. interest compounded annually for 2 years. The value of this investment would amount to [SSC CHSL 08/06/2022 (Morning)]

Correct Answer: (a) ₹2,59,200
Solution:

36. On a sum of money, when invested for 2 years, compound interest and simple interest are ₹300 and ₹250, respectively. For both simple and compound interests the rate of interest per annum is the same, and for compound interest, interest is compounded annually. Find the rate of interest per annum. [SSC CHSL 09/06/2022 (Afternoon)]

Correct Answer: (c) 40%

37. A sum of ₹14,375, when invested at r% interest per year compounded annually, amounts to ₹16,767 after two years. What is the value of r? [SSC CHSL 10/06/2022 (Evening)]

Correct Answer: (d) 8
Solution:

38. A certain sum is deposited for 4 years at a rate of 10% per annum on compound interest compounded annually. The difference between the interest at the end of 2 years and that at the end of 4 years is ₹5,082. Find the sum (in ₹). [SSC CGL 11/04/2022 (Morning)]

Correct Answer: (a) 20,000
Solution:

39. Joseph deposited a total of ₹52,500 in a bank in the names of his two daughters aged 15 years and 16 years in such a way that they would get equal amounts when they become 18 years old If the bank gives 10% compound interest compounded annually, then what is the amount (in ₹) that Joseph had deposited in the name of his younger daughter? [SSC CGL 18/04/2022 (Afternoon)]

Correct Answer: (c) 25,000
Solution:

40. A sum of money becomes ₹11,880 after 4 years and ₹17,820 after 6 years on compound interest, if the interest is compounded annually. What is half of the sum (in ₹)? [SSC CGL Tier II (29/01/2022)]

Correct Answer: (b) 2,640
Solution: