Compound Interest (SSC)

Total Questions: 50

11. A sum amounts to ₹6,120 in 2 years and ₹7,340 in 3 years at compound interest. The sum (in ₹) is (rounded off to 2 decimal places): [SSC CHSL 03/08/2023 (2nd Shift)]

Correct Answer: (b) 4,254.63
Solution:

12. A certain amount of money was lent for a period of 1 year 9 months at a rate of 10% per annum compounded annually. If the compound interest is ₹1,460, find the amount of money lent. [SSC CHSL 02/08/2023 (1st Shift)]

Correct Answer: (d) ₹8,000
Solution:

13. Rs. 2400 is lent at the rate of 10 percent per annum. Which of the following statement(s) is/are correct? [SSC MTS 18/05/2023 (Afternoon)]

I. The compound interest (compounding annually) for 3 years is Rs. 794.4.

II. The difference between simple interest and compound interest (compounding annually) after 3 years is Rs. 75.8

Correct Answer: (b) Only statement I is correct
Solution:

14. A sum of Rs.7500 amounts to Rs.15000 in two years at compound interest calculated annually. How much will Rs.7500 becomes in four years? [SSC MTS 18/05/2023 (Morning)]

Correct Answer: (b) Rs.30000
Solution:

15. A sum was lent for one year at the rate of 16 percent per annum on compound interest (compounding annually). If the compounding had been done half yearly, then the interest would have increased by Rs. 64. What was the sum lent? [SSC MTS 15/05/2023 (Evening)]

Correct Answer: (a) Rs. 10000
Solution:

16. The difference between compound interest and simple interest on Rs. x at 25% per annum for 2 years is Rs. 325. Find the value of x. [SSC MTS 10/05/2023 (Afternoon)]

Correct Answer: (a) Rs. 5200
Solution:

17. What is the effective annual rate of interest corresponding to a nominal rate of 10% per annum payable half-yearly? [SSC MTS 08/05/2023 (Morning)]

Correct Answer: (a) 10.25%
Solution:

18. Rs. 6000 is lent at the annual rate of 10 percent for 2 years. Which of the following is statement(s) is/are correct? [SSC CHSL 10/03/2023 (2nd Shift)]

I. Simple interest to be received on this sum is Rs. 1200

II. Compound Interest (compounding annually) to be received on this sum is Rs. 1260

Correct Answer: (b) Both statement I and II are correct
Solution:

19. Vipul and Manish invested the sum of ₹15000 and ₹20000 at the rate of 20 percent p.a. and 30 percent p.a. respectively on compound interest (compounding annually). If the time period is 3 years for both, then what will be the total compound interest earned by Vipul and Manish ? [SSC CGL Tier II (08/08/2022)]

Correct Answer: (d) 34860
Solution:

20. A person invests Rs 55,000 for two years on compound interest such that the rate of interest for the first year is 8% per annum and that for the second year is 12% per annum, and the interest is compounded annually. What is the total interest earned by the person? [SSC MTS 20/07/2022 (Evening)]

Correct Answer: (b) Rs 11,528
Solution: