17 SSC CGL Quantitative Aptitude previous year questions on Simple and Compound Interest — options free on every question; 2 include the answer & explanation free, the rest unlock with PYQ Pass.
Q1 FREE PREVIEW
PYQ
The difference between compound interest and simple interest on a sum for 2 years at 20 % per annum is Rs. 200. If the interest is compounded half yearly, then what is the difference (in Rs.) between compound and simple interest for 1st year?
a50
b75
c100
d150
✓ Correct answer: a) 50
ExplanationGiven, the difference between C.I and S.I for 2 years at 20% = Rs. 200 Now, CI - SI = When interest is half yearly then R = 10% and Time = 2 years Required difference = 1050 - 1000 = Rs. 50 Hence, Option A is the correct answer.
Q2 FREE PREVIEW
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If in 2 years at simple interest the principal increases by 18%, what will be the compound interest (in Rs) earned on Rs 7000 in 3 years at the same rate?
a1865.2
b2065.2
c1965.2
d1765.2
✓ Correct answer: b) 2065.2
ExplanationIn 2 years at simple interest the principal increases by 18%.Rate of interest = R = % Now, P = Rs. 7000, T = 3 years and R = 9% CI = P P CI = 7000 CI = 7000 CI = 9065.203 7000 CI = 2065.2 Hence, Option B is the correct answer.
Q3
PYQ
For an amount, simple interest at the rate of interest of 12% per annum for 6 years is Rs. 25920. What will be the compound interest (in Rs) on same amount at the rate of interest of 8% per annum compounding annually for 2 years?
a4326.3
b5563.4
c5888.6
d5990.4
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Q4
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If in 3 years at simple interest the principal increases by 18%, what will be the compound interest (in Rs) earned on Rs. 25,000 in 3 years at the same rate?
a4775.4
b5774.4
c4557.4
d5575.4
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Q5
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The difference between compound interest and simple interest on ₹ x at 8 % per annum for 2 years is ₹48. What is the value of x ?
a8000
b7500
c7400
d7800
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Q6
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A person borrowed a sum of ₹30800 at 10% p.a. for 3 years, interest compounded annually. At the end of two years, he paid a sum of ₹13268. At the end of 3rd year, he paid ₹x to clear off the debt. What is the value of x ?
a26200
b26620
c26510
d26400
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Q7
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A sum of ₹9500 amounts to ₹11495 in 2 years at a certain rate percent per annum, interest compounded yearly. What is the simple interest (in ₹) on the same sum for the same time and double the rate?
a3420
b3990
c3800
d4560
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Q8
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A loan is to be returned in two equal yearly instalments. If the rate of interest is 10 % p.a., compounded annually and each instalment is ₹ 6534, then the total interest charged (in ₹) is:
a1579
b1642
c1728
d1867
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Q9
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A certain sum becomes ₹ 13650 at 15% p.a. simple interest after 2 years. What will be the amount (in ₹ ) of the same sum after 1 year at the same rate of interest, if the interest is compounded half yearly? (nearest to a ₹ )
a10500
b13625
c11000
d12134
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Q10
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What is the difference between the compound interest (in ₹) compounded yearly and compounded half yearly for 18 months at 20% per annum on a sum of ₹ 12000 ?
a145
b165
c121
d132
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Q11
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A sum of ₹ 7500 amounts to ₹ 9075 at 10% p.a, interest being compounded yearly in a certain time. The simple interest (in ₹) on the same sum for the same time and the same rate is:
a1480
b1500
c1530
d1520
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Q12
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What is the difference (in ₹) between the simple interest and the compound interest on a sum of ₹ 8000 for years at the rate of 10% p.a., when the interest is compounded yearly?
a152.80
b155
c150
d147.20
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Q13
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The interest (in ₹) to be paid on a sum of ₹ 30000 at 15% p.a. after 2 years, if interest compounded yearly, is:
a12364.50
b16342.50
c13642.50
d14362.50
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Q14
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Two equal sums were lent on simple interest at 6% and 10% per annum respectively. The first sum was recovered two years later than the second sum and the amount in each case was Rs.1105. What was the sum (in Rs.) lent in each scheme?
a900
b850
c891
d936
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Q15
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A certain sum is deposited for 4 years at a rate of 10 % per annum on compound interest compounded annually. The difference between the interest at the end of 2 years and that at the end of 4 years is ₹ 5,082. Find the sum (in ₹ ).
a20,000
b25,500
c50,820
d10,164
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Q16
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Simple interest on a certain sum is one-fourth of the sum and the interest rate percentage per annum is 4 times the number of years. If the rate of interest increases by 2%, then what will be the simple interest (in ₹) on ₹5,000 for 3 years?
a300
b1,500
c2,000
d1,800
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Q17
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A sum of money at a fixed rate of simple interest amounts to ₹1,630 in 3 years and to ₹ 1,708 in 4 years. Find the sum (in ₹).
a1132
b1296
c1396
d1448
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