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Practice Test 7
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SSC CGL Compound Interest Practice Test 7

15 SSC CGL compound interest questions with chapter-wise explanations and exam-style options.

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SSC CGL Practice Session

SSC CGL Compound Interest Practice Test 7

15 SSC CGL compound interest questions with chapter-wise explanations and exam-style options.

Questions
15
Marking
+2 correct, -0.5 wrong
Format
15-question ad-supported session
Preview all 15 questions in SSC CGL Compound Interest Practice Test 7 (no login required)
  1. Compound Interest

    1. SI on ₹4500 at 8% per annum for 3 years is:

    • A. ₹1050
    • B. ₹1080 (Correct)
    • C. ₹1200
    • D. ₹1350

    Explanation: SI = 4500×8×3/100 = 1080.

  2. Compound Interest

    2. CI on ₹5000 at 10% per annum for 2 years is:

    • A. ₹1000
    • B. ₹1025
    • C. ₹1050 (Correct)
    • D. ₹1100

    Explanation: A = 5000×1.1² = 6050. CI = 1050.

  3. Compound Interest

    3. At what rate will ₹2400 become ₹3000 in 5 years (SI)?

    • A. 4%
    • B. 5% (Correct)
    • C. 6%
    • D. 8%

    Explanation: SI=600. R=600×100/(2400×5)=5%.

  4. Compound Interest

    4. A sum triples itself in 20 years at SI. Annual rate is:

    • A. 8%
    • B. 10% (Correct)
    • C. 12%
    • D. 15%

    Explanation: SI=2P over 20 years. R=2P×100/(P×20)=10%.

  5. Compound Interest

    5. Difference between CI and SI on ₹8000 at 5% for 2 years is:

    • A. ₹15
    • B. ₹20 (Correct)
    • C. ₹25
    • D. ₹30

    Explanation: Diff = P×r²/100² = 8000×25/10000 = 20.

  6. Compound Interest

    6. Amount on ₹6000 at 6% SI for 2 years is:

    • A. ₹6600
    • B. ₹6700
    • C. ₹6720 (Correct)
    • D. ₹6800

    Explanation: SI=720. Amount=6000+720=6720.

  7. Compound Interest

    7. CI on ₹10000 at 10% for 3 years is:

    • A. ₹3000
    • B. ₹3100
    • C. ₹3310 (Correct)
    • D. ₹3500

    Explanation: A = 10000×1.1³ = 13310. CI = 3310.

  8. Compound Interest

    8. In how many years will ₹1200 amount to ₹1440 at 5% SI?

    • A. 3 years
    • B. 4 years (Correct)
    • C. 5 years
    • D. 6 years

    Explanation: SI=240. T=240×100/(1200×5)=4 years.

  9. Compound Interest

    9. CI on ₹4000 at 10% per annum compounded half-yearly for 1 year is:

    • A. ₹400
    • B. ₹410 (Correct)
    • C. ₹420
    • D. ₹441

    Explanation: Rate per half-year=5%, 2 periods. A=4000×1.05²=4410. CI=410.

  10. Compound Interest

    10. SI for 2 years is ₹800. CI for same is ₹840. Rate of interest is:

    • A. 8%
    • B. 10% (Correct)
    • C. 12%
    • D. 15%

    Explanation: SI per year = 400. Extra CI = 40 = SI×r/100 → r=40×100/400=10%.

  11. Compound Interest

    11. A sum at 4% SI gives ₹480 interest in 3 years. Sum is:

    • A. ₹3000
    • B. ₹3500
    • C. ₹4000 (Correct)
    • D. ₹4500

    Explanation: P = 480×100/(4×3) = 4000.

  12. Compound Interest

    12. CI on a sum for 2 years at 8% is ₹832. Sum is:

    • A. ₹4500
    • B. ₹5000 (Correct)
    • C. ₹5200
    • D. ₹6000

    Explanation: P×(1.08²−1)=832 → P×0.1664=832 → P=5000.

  13. Compound Interest

    13. Amount at CI on ₹2000 at 15% for 2 years is:

    • A. ₹2600
    • B. ₹2645 (Correct)
    • C. ₹2660
    • D. ₹2690

    Explanation: A=2000×1.15²=2000×1.3225=2645.

  14. Compound Interest

    14. SI on ₹1500 at 7% per annum for 2 years is:

    • A. ₹180
    • B. ₹200
    • C. ₹210 (Correct)
    • D. ₹220

    Explanation: SI=1500×7×2/100=210.

  15. Compound Interest

    15. The difference between CI and SI on ₹P at 10% for 2 years is ₹50. P is:

    • A. ₹4000
    • B. ₹5000 (Correct)
    • C. ₹5500
    • D. ₹6000

    Explanation: Diff = P×r²/10000 = P×100/10000 = P/100 = 50 → P=5000.