Compound Interest (SSC) (Part-3)

Total Questions: 50

41. A sum of ₹6,400 invested on the basis of yearly compounding of interest, grows to ₹7,056 in two years. What is the percentage rate of interest ? [SSC MTS 05/10/2021 (Morning)]

Correct Answer: (d) 5
Solution:

42. A sum of ₹3,364 is divided in two parts such that the amounts received on them after 3 years and 5 years, respectively, is the same when the rate of interest is 5% p.a., compounded yearly. The difference between the two parts is: [SSC MTS 08/10/2021 (Evening)]

Correct Answer: (c) ₹164
Solution:

43. A sum invested at compound interest amounts to ₹13,824 in 2 years and to ₹16,588.80 in 3 years at a certain rate percent per annum, interest being compounded yearly. What will be the amount of the same at the end of the 4ᵗʰ year (nearest to a rupee)? [SSC MTS 14/10/2021 (Evening)]

Correct Answer: (c) ₹19,907
Solution:

44. A farmer borrowed ₹1,32,000 from a money lender to do cultivation in his field. The rate of interest is 12.5% p.a. Compounded annually. At the end of two years, he cleared his loan by paying ₹1,07,062.50 and his scooter. The cost (in ₹) of the scooter is: [SSC MTS 20/10/2021 (Afternoon)]

Correct Answer: (d) 60,000
Solution:

45. If a certain sum at compound interest becomes 2½ times in 5 years, then in how many years will it become 6 ¼ times, at the same rate of interest p.a.? [SSC MTS 22/10/2021 (Afternoon)]

Correct Answer: (d) 10 years
Solution:

46. Kanika took a loan of ₹10,000 for 2 years on compound interest at the rate of 5% per annum, interest being compounded annually. How much money would she have saved if she had taken the loan on simple interest ? [SSC MTS 27/10/2021 (Morning)]

Correct Answer: (c) ₹25
Solution:

47. Amit borrows a sum of ₹8,000 at 10% p.a. compound interest for 4 years. He repays ₹2,800 at the end of the first year and ₹2,600 at the end of the second year. To clear the loan, how much should he pay after 4 years, interest being compounded yearly? [SSC MTS 27/10/2021 (Afternoon)]

Correct Answer: (c) ₹4,840
Solution:

48. What is the compound interest (in Rupee) on a sum of 8192 rupee for 1¼ years at 15% per annum, if interest is compounded 5-monthly? [SSC CGL 13/08/2021 (Morning)]

Correct Answer: (c) 1634
Solution:

49. A certain sum amounts to Rs. 2,91,600 in 2 years and to Rs. 3,14,928 in 3 years on compound interest compounded annually. How much will be the simple interest (in Rs.) on Rs. 40,000 at the same rate for 2 years ? [SSC CGL 16/08/2021 (Evening)]

Correct Answer: (b) 6400
Solution:

50. A certain sum becomes Rs. 13650 at 15% p.a. simple interest after 2 years. What will be the amount (in Rs.) of the same sum after 1 year at the same rate of interest, if the interest is compounded half yearly? (nearest to a Rs.) [SSC CGL 17/08/2021 (Morning)]

Correct Answer: (c) 12134
Solution: