Compound Interest SSC GD Questions

SSC GD-Elementary Mathematics
Compound Interest

Compound Interest MCQ Questions


13.
The compound interest on a sum of ₹10,000 for 3 years at the rate of 8% for the 1st year, 10% for the 2nd year, and 12% for the 3rd year will be:
SSC GD 2021-03.12.2021-1
A.
₹3,33,06
B.
₹3,30,56
C.
₹3,35,06
D.
₹3,34,56
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ANSWER :
B. ₹3,30,56
14.
What will be the difference in the simple interest and compound interest compounded annually on a sum of ₹6,000 in 2 years at the interest rate of 5% per annum?
SSC GD 2021-03.12.2021-1
A.
₹35
B.
₹15
C.
₹10
D.
₹30
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ANSWER :
A. ₹35
15.
If the difference between the compound interest and simple interest on ₹16,000 for 2 years at a certain rate of interest per annum is ₹102.40, then find the rate of interest per annum.
SSC GD 2021-03.12.2021-3
A.
8%
B.
11%
C.
6.5%
D.
10%
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ANSWER :
A. 8%
16.
The compound interest on a sum for 1\( \frac{1}{3} \) years at 12% per annum is ₹2,496, interest being compounded 8-monthly. What is the amount (in ₹) (to the nearest ₹) of the same sum for four years at the same rate, when the interest is compounded yearly?
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A.
26,033
B.
20,336
C.
23,603
D.
30,632
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ANSWER :
C. 23,603
17.
A man borrowed ₹50,000 for 2 years at a rate of 2% on compound interest. The difference in the amount at the end of the first year and that at the end of the second year is:
SSC GD 2021-06.12.2021-1
A.
₹50
B.
₹20
C.
₹30
D.
₹40
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ANSWER :
B. ₹20
18.
Sumit earned ₹10,692 as simple interest on ₹29,700 at a certain rate of interest for 3 years. His friend Anil invested ₹12,500 for 2 years at the same rate of interest but on compound interest compounded annually. How much did Anil earn as interest?
SSC GD 2021-06.12.2021-3
A.
₹3,150
B.
₹3,180
C.
₹3,200
D.
₹3,000
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ANSWER :
B. ₹3,180
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