Compound Interest SSC GD Questions

Compound Interest MCQ Questions

7.
A sum of ₹12,500 amounts to ₹15,125 at 10% p.a. in a certain time, interest compounded annually. What will be the amount of the same sum at 15% p.a. for the same time, interest compounded 8-monthly? (Nearest to a ₹)
SSC GD 2021-02.12.2021-1
A.
₹16,638
B.
₹16,658
C.
₹16,548
D.
₹16,531
ANSWER :
A. ₹16,638
8.
A person invested a certain sum at a rate of 5% per annum on simple interest (SI) for 2 years, while another person invested the same sum for the same period at a compound interest ra te of 4% per annum. The interest at the SI rate is ₹184.00 more than that at the compound interest rate. The sum invested is:
SSC GD 2021-02.12.2021-2
A.
₹8,500
B.
₹10,000
C.
₹8,000
D.
₹7,500
ANSWER :
B. ₹10,000
9.
A certain sum amounts to ₹9036 after 3 years and to ₹11484 after 7 years at the same rate per cent per annum at simple interest. What will be the compound interest (in ₹) (to the nearest ₹) on the same sum for 2 years at the double rate of interest if interest is compounded annually?
SSC GD 2021-02.12.2021-3
A.
2656
B.
3123
C.
2255
D.
2764
ANSWER :
A. 2656
10.
Find the compound interest on ₹20,000 at 9% per annum for one year and 4 months, compound annually.
SSC GD 2021-03.12.2021-2
A.
₹2,454
B.
₹2,654
C.
₹2,540
D.
₹2,450
ANSWER :
A. ₹2,454
11.
A sum of ₹8,400 is divided between A and B such that A's share at the end of 2 years is equal to B's share at the end of 3 years at 15% p.a., interest compounded 8-monthly. What is A's share (in ₹) in the given sum?
SSC GD 2021-03.12.2021-2
A.
4,450
B.
4,400
C.
4,550
D.
4,500
ANSWER :
B. 4,400
12.
What sum of money at compound interest will amount to ₹30,051 in 3 years if the rate of interest is 5% for the 1st year, 6% for the 2nd year and 8% for the 3rd year?
SSC GD 2021-03.12.2021-2
A.
₹30,000
B.
₹25,000
C.
₹26,000
D.
₹28,000
ANSWER :
B. ₹25,000