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Practice Test 4
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SSC CGL Simple and Compound Interest Verified Practice Test 4

15 structurally validated Simple and Compound Interest questions with unique options, mapped answers and explanations.

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SSC CGL Practice Session

SSC CGL Simple and Compound Interest Verified Practice Test 4

15 structurally validated Simple and Compound Interest questions with unique options, mapped answers and explanations.

Questions
15
Marking
+2 correct, -0.5 wrong
Format
15-question practice session
Preview all 15 questions in SSC CGL Simple and Compound Interest Verified Practice Test 4 (no login required)
  1. Amount

    1. If principal is Rs. 2500 and SI is Rs. 500, amount is:

    • A. 2800
    • B. 2900
    • C. 3000 (Correct)
    • D. 3100

    Explanation: Amount = principal + interest.

  2. Rate

    2. At what rate will Rs. 3000 earn Rs. 450 in 3 years as SI?

    • A. 4%
    • B. 5% (Correct)
    • C. 6%
    • D. 7%

    Explanation: R = 450 x 100 / (3000 x 3) = 5%.

  3. Time

    3. In how many years will Rs. 5000 earn Rs. 1500 at 10% SI?

    • A. 2
    • B. 3 (Correct)
    • C. 4
    • D. 5

    Explanation: Time = 1500 x 100 / (5000 x 10) = 3 years.

  4. Compound Interest

    4. Amount on Rs. 1000 at 10% CI for 3 years is:

    • A. 1210
    • B. 1300
    • C. 1331 (Correct)
    • D. 1441

    Explanation: Amount = 1000 x 1.1^3 = 1331.

  5. CI vs SI

    5. Difference between CI and SI on Rs. 2000 at 5% for 2 years is:

    • A. 2
    • B. 5 (Correct)
    • C. 8
    • D. 10

    Explanation: Difference for 2 years = P x (R/100)^2 = 2000 x 0.0025 = 5.

  6. Principal

    6. A sum becomes Rs. 2420 in 2 years at 10% CI. Principal is:

    • A. 1800
    • B. 1900
    • C. 2000 (Correct)
    • D. 2200

    Explanation: Principal = 2420/1.21 = 2000.

  7. Simple Interest

    7. SI on Rs. 1500 at 12% for 1 year is:

    • A. 150
    • B. 160
    • C. 180 (Correct)
    • D. 200

    Explanation: SI = 1500 x 12/100 = 180.

  8. Amount

    8. If amount is Rs. 5520 and principal is Rs. 4600 under SI, interest is:

    • A. 820
    • B. 900
    • C. 920 (Correct)
    • D. 960

    Explanation: Interest = amount - principal = 920.

  9. Rate

    9. If SI on Rs. 1200 for 2 years is Rs. 192, rate is:

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

    Explanation: R = 192 x 100 / (1200 x 2) = 8%.

  10. Compound Growth

    10. At 20% annual CI, the growth factor each year is:

    • A. 1.02
    • B. 1.2 (Correct)
    • C. 2
    • D. 20

    Explanation: Growth factor = 1 + 20/100 = 1.2.

  11. Half-yearly

    11. At 8% per annum compounded half-yearly, the rate per half-year is:

    • A. 2%
    • B. 4% (Correct)
    • C. 6%
    • D. 8%

    Explanation: Annual rate is divided into two equal half-year periods.

  12. Principal

    12. If SI for 4 years at 5% is Rs. 300, principal is:

    • A. 1200
    • B. 1400
    • C. 1500 (Correct)
    • D. 1600

    Explanation: P = 300 x 100 / (5 x 4) = 1500.

  13. Amount

    13. Amount on Rs. 5000 at 10% SI for 2 years is:

    • A. 5500
    • B. 5800
    • C. 6000 (Correct)
    • D. 6200

    Explanation: SI = 1000, so amount = 6000.

  14. CI Difference

    14. Difference between CI and SI for 2 years at 10% is Rs. 36. Principal is:

    • A. 3000
    • B. 3200
    • C. 3400
    • D. 3600 (Correct)

    Explanation: Difference = P x 0.01 = 36, so P = 3600.

  15. Simple Interest

    15. Simple interest on Rs. 3000 at 8% per annum for 2 years is:

    • A. Rs. 420
    • B. Rs. 450
    • C. Rs. 480 (Correct)
    • D. Rs. 520

    Explanation: SI = 3000 x 8 x 2 / 100 = 480.