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Practice Test 7
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SSC CGL Simple and Compound Interest Verified Practice Test 7

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 7

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 7 (no login required)
  1. Principal

    1. 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%.

  2. CI Difference

    2. 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.

  3. Amount

    3. 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.

  4. CI

    4. 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.

  5. Time

    5. 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.

  6. Half-yearly CI

    6. 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.

  7. SI vs CI

    7. 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%.

  8. Principal

    8. 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.

  9. Rate

    9. 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.

  10. Amount

    10. 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.

  11. SI

    11. 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.

  12. CI Difference

    12. 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.

  13. SI

    13. In how many years will ₹800 at 5% SI double?

    • A. 10
    • B. 15
    • C. 20 (Correct)
    • D. 25

    Explanation: SI=P → Prt/100=P → t=100/5=20 years.

  14. CI

    14. CI on ₹3000 at 10% per year for 1.5 years compounded half-yearly:

    • A. ₹459.75
    • B. ₹463.60
    • C. ₹472.88 (Correct)
    • D. ₹480.00

    Explanation: Rate per half-year = 5% and number of half-years = 3. Amount = 3000 x 1.05^3 = ₹3472.88, so CI = ₹472.88.

  15. Rate

    15. A sum at SI doubles in 8 years. Rate of interest:

    • A. 10%
    • B. 12%
    • C. 12.5% (Correct)
    • D. 15%

    Explanation: SI=P. P×r×8/100=P → r=100/8=12.5%.