SSC CGL Simple and Compound Interest Verified Practice Test 5
15 structurally validated Simple and Compound Interest questions with unique options, mapped answers and explanations.
SSC CGL Simple and Compound Interest Verified Practice Test 5
15 structurally validated Simple and Compound Interest questions with unique options, mapped answers and explanations.
Preview all 15 questions in SSC CGL Simple and Compound Interest Verified Practice Test 5 (no login required)
- Amount
1. If simple interest on Rs. 2000 for 3 years is Rs. 360, the amount is:
- A. Rs. 2240
- B. Rs. 2300
- C. Rs. 2360 (Correct)
- D. Rs. 2400
Explanation: Amount = principal + interest = 2000 + 360 = 2360.
- Rate
2. At what rate percent per annum will Rs. 2500 earn Rs. 500 simple interest in 4 years?
- A. 4%
- B. 5% (Correct)
- C. 6%
- D. 7%
Explanation: R = SI x 100 / (P x T) = 500 x 100 / (2500 x 4) = 5%.
- Time
3. In how many years will Rs. 1200 amount to Rs. 1500 at 10% simple interest?
- A. 2 years
- B. 2.5 years (Correct)
- C. 3 years
- D. 4 years
Explanation: Interest = 300. Time = 300 x 100 / (1200 x 10) = 2.5 years.
- Compound Interest
4. The amount on Rs. 2000 at 10% compound interest for 2 years is:
- A. Rs. 2200
- B. Rs. 2320
- C. Rs. 2400
- D. Rs. 2420 (Correct)
Explanation: Amount = 2000 x (1.1)^2 = 2420.
- Compound Interest
5. Compound interest on Rs. 1000 at 20% per annum for 2 years is:
- A. Rs. 400
- B. Rs. 420
- C. Rs. 440 (Correct)
- D. Rs. 480
Explanation: Amount = 1000 x 1.2 x 1.2 = 1440, so CI = 440.
- Difference SI and CI
6. The difference between compound interest and simple interest on Rs. 2000 for 2 years at 10% is:
- A. Rs. 10
- B. Rs. 15
- C. Rs. 20 (Correct)
- D. Rs. 25
Explanation: Difference for 2 years = P x r^2 / 10000 = 2000 x 100 / 10000 = 20.
- Principal
7. If simple interest is Rs. 540 at 9% for 4 years, the principal is:
- A. Rs. 1250
- B. Rs. 1400
- C. Rs. 1500 (Correct)
- D. Rs. 1600
Explanation: P = 540 x 100 / (9 x 4) = 1500.
- Annual Increase
8. A sum becomes Rs. 6050 in 2 years at 10% compound interest. The principal is:
- A. Rs. 4800
- B. Rs. 5000 (Correct)
- C. Rs. 5200
- D. Rs. 5500
Explanation: Principal = 6050 / 1.21 = 5000.
- Simple Interest
9. Simple interest on Rs. 4500 at 6% for 1 year is:
- A. Rs. 250
- B. Rs. 260
- C. Rs. 270 (Correct)
- D. Rs. 280
Explanation: SI = 4500 x 6 x 1 / 100 = 270.
- Half-Yearly CI
10. If the annual rate is 12% compounded half-yearly, the rate per half-year is:
- A. 3%
- B. 4%
- C. 5%
- D. 6% (Correct)
Explanation: Half-yearly rate is half of annual rate.
- Amount from SI
11. If simple interest is Rs. 180 on Rs. 900, the amount is:
- A. Rs. 980
- B. Rs. 1020
- C. Rs. 1080 (Correct)
- D. Rs. 1180
Explanation: Amount = 900 + 180 = 1080.
- Growth
12. A sum doubles in 5 years at compound interest. In the same rate, it will become four times in:
- A. 8 years
- B. 9 years
- C. 10 years (Correct)
- D. 12 years
Explanation: Doubling again takes the same 5 years, so four times in 10 years.
- Compound Amount
13. At 10% compound interest for 3 years, Rs. 1000 becomes:
- A. Rs. 1300
- B. Rs. 1310
- C. Rs. 1331 (Correct)
- D. Rs. 1350
Explanation: Amount = 1000 x (1.1)^3 = 1331.
- Simple Interest
14. Simple interest on Rs. 2500 at 8% for 2 years is:
- A. Rs. 350
- B. Rs. 380
- C. Rs. 400 (Correct)
- D. Rs. 420
Explanation: SI = PRT/100.
- Amount
15. If SI on Rs. 1500 for 2 years is Rs. 300, amount is:
- A. Rs. 1700
- B. Rs. 1750
- C. Rs. 1800 (Correct)
- D. Rs. 1850
Explanation: Amount = principal + interest.