Simple and Compound Interest SSC CHSL Questions

Simple and Compound Interest

Simple and Compound Interest MCQ Questions

1.

Anamika paid ₹4,965 as compound interest on a loan of ₹15,000 after 3 years when compounded annually. Suman took a loan of ₹10,000 at the same rate on simple interest. How much interest did Suman pay after 3 years?


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A.

₹4,500

B.

₹4,000

C.

₹3,000

D.

₹3,500

ANSWER :

C. ₹3,000

2.

The compound interest (in ₹, to the nearest integer) on ₹8,950 for 2 years at the rate of 9% per annum, compounded annually, is:


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A.

1,523

B.

1,683

C.

1,685

D.

1,468

ANSWER :

B. 1,683

3.

The simple interest on a certain sum for 3 years at 12% p.a. is ₹6,750. What is the compound interest (in ₹) on the same sum for 2 years at 20% p.a., if interest is compounded half-yearly? (rounded off to the nearest ₹)


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A.

8,000

B.

8,702

C.

6,750

D.

7,729

ANSWER :

B. 8,702

4.

What is the simple interest on a sum of ₹99,000 at \(12\dfrac{1}{2}\%\) per annum for a period of 9 months?


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A.

₹8,281.25

B.

₹9,282.25

C.

₹7,281.25

D.

₹9,281.25

ANSWER :

D. ₹9,281.25

5.

A sum of ₹2,432 amounts to ₹2,681.28 in 2 years at a certain rate per cent per annum, interest compounded yearly. What will be the simple interest (in ₹) on the same sum for \(4\dfrac{3}{8}\) years at double the same rate?


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A.

1,276.80

B.

1,094.40

C.

1,064

D.

1,368

ANSWER :

C. 1,064

6.

A sum of money amounts to ₹28,224 in 2 years and to ₹29,635.20 in 3 years when invested on compound interest, compounded annually. What is the sum of money?


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A.

₹26,880

B.

₹26,095

C.

₹26,000

D.

₹25,600

ANSWER :

D. ₹25,600