Simple Interest and Compound Interest SSC CGL Questions

Simple Interest and Compound Interest

Simple Interest and Compound Interest MCQ Questions

13.

The compound interest on a certain sum of money at 21% p.a. for 2 years is ₹11,138.40 (interest compounded yearly). The total amount received (in ₹) after 2 years is:
SSC CGL 2021-19.04.2022-2

A.

31,538.4

B.

24,000.5

C.

35,138.4

D.

28,315.4

ANSWER :
C. 35,138.4
14.

What is the compound interest (in ₹) at the rate of 10%, compounded annually, for 3 years on the principal which in 8 years at the rate of 12% per annum gives ₹4,800 as simple interest?
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A.

1,455

B.

1,655

C.

2,045

D.

1,505

ANSWER :
B. 1,655
15.

The difference between compound interest compounded annually and simple interest on a certain sum at a rate of 15% per annum for 2 years is ₹1,944. Find the compound interest compounded annually (in ₹) on the same sum for the same period at a rate of 10% per annum.
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A.

27,216

B.

18,060

C.

18,144

D.

20,500

ANSWER :
C. 18,144
16.

The simple interest on a sum of money at 10% per annum for 4 years is ₹3,200. What will be the amount (in ₹) of the same sum for the same period at the same rate of interest when the interest is compounded annually?
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A.

11,217.8

B.

11,172.8

C.

11,127.8

D.

11,712.8

ANSWER :
D. 11,712.8
17.
Divide ₹66,300 between A and B in such a way that the amount that A receives after 8 years is equal to the amount B receives after 10 years, with compound interest being compounded annually at a rate of 10% per annum
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A.
A = ₹35,520, B = ₹30,810
B.
A = ₹35,200, B = ₹31,100
C.
A = ₹37,000, B = ₹29,300
D.
A = ₹36,300, B = ₹30,000
ANSWER :
D. A = ₹36,300, B = ₹30,000
18.

Amit lent a sum of ₹5,000 on simple interest for 10 years in such a way that the rate of interest is 6% per annum for the first 2 years, 8% per annum for the next 2 years and 10% per annum beyond 4 years. How much interest (in ₹) will he earn at the end of 10 years?
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A.

5,000

B.

4,400

C.

4,200

D.

3,500

ANSWER :
B. 4,400