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Practice Test 3
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SSC CGL Simple and Compound Interest Practice Test 3

15 more SSC CGL questions on SI, CI, principal, rate, amount, and 2-year interest differences.

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SSC CGL Practice Session

SSC CGL Simple and Compound Interest Practice Test 3

15 more SSC CGL questions on SI, CI, principal, rate, amount, and 2-year interest differences.

Questions
15
Marking
+2 correct, -0.5 wrong
Format
15-question ad-supported session
Preview all 15 questions in SSC CGL Simple and Compound Interest Practice Test 3 (no login required)
  1. Simple Interest

    1. SI on Rs. 3000 at 5% per annum for 4 years is:

    • A. 500
    • B. 550
    • C. 600 (Correct)
    • D. 650

    Explanation: SI = PRT/100 = 3000 x 5 x 4 / 100 = 600.

  2. Amount

    2. If SI is Rs. 450 on principal Rs. 1500, amount is:

    • A. 1800
    • B. 1850
    • C. 1900
    • D. 1950 (Correct)

    Explanation: Amount = principal + interest = 1500 + 450 = 1950.

  3. Rate

    3. At what rate will Rs. 2000 earn Rs. 240 in 2 years as SI?

    • A. 5%
    • B. 6% (Correct)
    • C. 7%
    • D. 8%

    Explanation: R = SI x 100 / (P x T) = 240 x 100 / (2000 x 2) = 6%.

  4. Time

    4. In how many years will Rs. 2500 amount to Rs. 3250 at 12% SI?

    • A. 2 years
    • B. 2.5 years (Correct)
    • C. 3 years
    • D. 4 years

    Explanation: Interest = 750. Time = 750 x 100 / (2500 x 12) = 2.5 years.

  5. Compound Interest

    5. Amount on Rs. 2000 at 10% compound interest for 2 years is:

    • A. 2200
    • B. 2400
    • C. 2420 (Correct)
    • D. 2440

    Explanation: Amount = 2000 x (1.1)^2 = 2420.

  6. CI vs SI

    6. Difference between CI and SI on Rs. 1500 at 10% for 2 years is:

    • A. 10
    • B. 12
    • C. 15 (Correct)
    • D. 18

    Explanation: Difference for 2 years = P x (R/100)^2 = 1500 x 0.01 = 15.

  7. Principal

    7. A sum becomes Rs. 726 in 2 years at 10% CI. Principal is:

    • A. 500
    • B. 550
    • C. 600 (Correct)
    • D. 650

    Explanation: Principal = 726 / 1.21 = 600.

  8. Simple Interest

    8. SI on Rs. 1800 at 8% for 2 years is:

    • A. 248
    • B. 268
    • C. 288 (Correct)
    • D. 308

    Explanation: SI = 1800 x 8 x 2 / 100 = 288.

  9. Half-yearly CI

    9. At 12% per annum compounded half-yearly, rate per half-year is:

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

    Explanation: The annual rate is split into two half-years, so each period is 6%.

  10. Amount

    10. Principal Rs. 4000 earns Rs. 800 as SI in 4 years. Amount is:

    • A. 4400
    • B. 4600
    • C. 4800 (Correct)
    • D. 5000

    Explanation: Amount = 4000 + 800 = 4800.

  11. Compound Growth

    11. A sum trebles in 2 years under compound interest. Annual growth factor is:

    • A. sqrt(2)
    • B. sqrt(3) (Correct)
    • C. 1.5
    • D. 2

    Explanation: If (1+r)^2 = 3, annual growth factor = sqrt(3).

  12. Rate

    12. SI on Rs. 2500 for 1 year is Rs. 200. Rate is:

    • A. 6%
    • B. 7%
    • C. 8% (Correct)
    • D. 9%

    Explanation: R = 200 x 100 / 2500 = 8%.

  13. CI for 3 Years

    13. Amount on Rs. 1000 at 20% CI for 2 years is:

    • A. 1200
    • B. 1400
    • C. 1440 (Correct)
    • D. 1480

    Explanation: Amount = 1000 x (1.2)^2 = 1440.

  14. Principal

    14. If SI at 12% for 5 years is Rs. 720, the principal is:

    • A. 1000
    • B. 1100
    • C. 1200 (Correct)
    • D. 1300

    Explanation: P = 720 x 100 / (12 x 5) = 1200.

  15. CI Difference

    15. Difference between CI and SI on a sum for 2 years at 10% is Rs. 25. Principal is:

    • A. 2000
    • B. 2250
    • C. 2500 (Correct)
    • D. 2750

    Explanation: Difference = P x (R/100)^2 = P x 0.01 = 25, so P = 2500.