Simple and Compound Interest Questions for SSC CGL

Simple and Compound Interest Questions: Questions related to simple interest and compound interest are most commonly asked in competitive exams like SSC CGL, SSC CHSL and other exams like Railways. It is a scoring topic if you are able to grasp the basic concepts. In this blog, we will be providing simple and compound interest questions that will be beneficial for SSC CGL preparation.


SSC CGL Simple Interest and Compound Interest Questions

1. A sum of Rs. 12,000, at compound interest becomes double after 5 years. How much will it be after 20 years?

a) Rs. 1,20,000

b) Rs. 1,44,000

c) Rs. 1,92,000

d) Rs. 1, 50,000

2. At what rate of compound interest per annum will a sum of Rs 20000 become Rs 23328 in 2 years?

a) 8 per cent

b) 12 per cent

c) 24 per cent

d) 16 per cent

3. A sum of money at compound interest doubles itself in 15 years. It will become eight times of itself in

a) 48 years

b) 45 years

c) 60 years

d) 54 years

4. What will the compound interest for a period of 6 months be calculated quarterly at the rate of 20% on a principal amount of Rs. 32,000 be?

a) Rs. 4160

b) Rs. 4360

c) Rs. 4080

d) Rs. 4280

5. Ram lends Rs. 2500 to Rahul at the rate of 2% compound interest. How much extra money will he have earned at the end of 2 years?

a) Rs. 110

b) Rs. 101

c) Rs. 108

d) Rs. 103

6. In how many years will a principal amount of Rs. 1000 become Rs. 1728 when compounded annually at the rate of 20% per annum.

a) 3

b) 5

c) 7

d) 9

7. At what rate of compound interest per annum will a sum of Rs 10000 become Rs 12321 in 2 years?

a) 7 per cent

b) 11 per cent

c) 15 per cent

d) 22 per cent

8. If the compound interest on a certain sum for 2 years at 4% p.a. is Rs. 102, the simple interest at the same rate of interest for two years would be?

(a) Rs. 50

(b) Rs. 100

(c) Rs. 150

(d) Rs. 200

9. A sum of Rs. 2668 amounts to Rs. 4669 in 5yr at the rate of simple interest. Find the rate of interest.

a) 14.90%

b) 15%

c) 15.20%

d) 16%

10. Raj deposits an amount of Rs. 65800 at the rate of 14% per annum for 4 yr. What total amount will Raj get at the end of 4 yrs.?

a) Rs.115246

b) Rs. 110324

c) Rs.102648

d) Rs.125578

The following was a sneak peek into the contents of the e-book, for the complete e-book containing the full set of questions with solutions the candidates/aspirants can download using the link provided below.

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That was all about the SSC CGL Simple and Compound Interest Questions. We hope that it will prove beneficial for exam preparation. For more updates, stay connected with Oliveboard.


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