MCQ: Compound Interest - 2 - SSC CGL MCQ

# MCQ: Compound Interest - 2 - SSC CGL MCQ

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## 15 Questions MCQ Test Quantitative Aptitude for SSC CGL - MCQ: Compound Interest - 2

MCQ: Compound Interest - 2 for SSC CGL 2024 is part of Quantitative Aptitude for SSC CGL preparation. The MCQ: Compound Interest - 2 questions and answers have been prepared according to the SSC CGL exam syllabus.The MCQ: Compound Interest - 2 MCQs are made for SSC CGL 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for MCQ: Compound Interest - 2 below.
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MCQ: Compound Interest - 2 - Question 1

### A sum is deposited in scheme A which gives 10% p.a. compound interest. A similar sum is deposited in scheme B which gives 33.33% p.a. compound interest. What is the ratio of the interest obtained from scheme A to that from scheme B after 2 years?

Detailed Solution for MCQ: Compound Interest - 2 - Question 1

Interest from scheme A

Interest from scheme B

Reqd. ratio = 21 : 77.77 = 27 : 100
Hence, Option A is correct.

MCQ: Compound Interest - 2 - Question 2

### A sum of Rs. 4X borrowed at a certain rate of compound interest per annum becomes Rs. Y in one year and Rs. 9X in two years. What was the per annum rate of interest?

Detailed Solution for MCQ: Compound Interest - 2 - Question 2

r = 50%
Hence, Option A is correct.

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MCQ: Compound Interest - 2 - Question 3

### A sum of money is deposited for 2 years with different rates of compound interest for different years. The sum becomes Rs. 12X in 1 year and Rs. 13X in 2 years. If the sum increases by 12.67% in two years, what was the rate of interest in the first year?

Detailed Solution for MCQ: Compound Interest - 2 - Question 3

Let the amount at the end of the first year = A1 and at the end of 2 years = A2
Principal : A1 : A2 = P : 12X : 13X
P : A2 = 300 : 338
13X = 338
So, 12X = 312
P : A1 = 300 : 312
Rate of interest in first year

Hence, Option D is correct.

MCQ: Compound Interest - 2 - Question 4

A sum is borrowed at a rate of 50% p.a for three years at compound interest. What percentage interest will have to be paid at the end of three years?

Detailed Solution for MCQ: Compound Interest - 2 - Question 4

Hence, Option A is correct.

MCQ: Compound Interest - 2 - Question 5

Aman took a loan for 2 years at 25% p.a. compound interest. Pooja took 1.5 times as much loan as Aman for 2 years at 16.67% p.a. compound interest. What is the ratio of the interest paid by Aman to that by Pooja?

Detailed Solution for MCQ: Compound Interest - 2 - Question 5

Let the loan of Aman = 2A and that of Pooja = 3A
Interest of Aman = 2A × (1 + 1/4)2 – 1 = 2A × 9/16
Interest of Pooja = 3A × (1 + 1/6)2 – 1 = 3A × 13/36

Hence, Option B is correct.

MCQ: Compound Interest - 2 - Question 6

Shikhar borrowed a sum of Rs. 500 at 20% p.a. and one year later he borrowed a sum of Rs. 200 more at 10% p.a. If the interest is compounded annually, what percentage of interest will he pay at the end of 3 years?

Detailed Solution for MCQ: Compound Interest - 2 - Question 6

Sum of money is 500 and 200
Interest = 500 × (1.2)3 – 500 + 200 (1.1)2 – 200
= 364 + 42 = 406

Hence, Option A is correct.

MCQ: Compound Interest - 2 - Question 7

A sum of money is invested in a scheme for 3 years at 25% p.a. compounding annually. What percent of the amount obtained after 3 years is interest?

Detailed Solution for MCQ: Compound Interest - 2 - Question 7

Hence, Option B is correct.

MCQ: Compound Interest - 2 - Question 8

If the difference between the simple interest and compound interest obtained on a sum of Rs. X in 2 years at the rate of 33.33% is Rs. 450, what will the same sum amount to, at the same rate in two years?

Detailed Solution for MCQ: Compound Interest - 2 - Question 8

X = 450 × 9 = 4050

Hence, Option B is correct.

MCQ: Compound Interest - 2 - Question 9

A sum of Rs. 42,000 is invested at the rate of r% p.a. compounding annually for three years. If the interest received in the third year is 33.33% of the amount at the end of the third year, what is the value of r?

Detailed Solution for MCQ: Compound Interest - 2 - Question 9

Principal : Interest : Amount = 2 : 1 : 3

Hence, Option D is correct.

MCQ: Compound Interest - 2 - Question 10

A sum of Rs. 3000 is invested at compound interest for 2 years with the per annum rate of interest for the first and second years being 33.33% and 10%, respectively. If the interest is compounded yearly in the first year and half-yearly in the second year, what is the total interest (in Rs.) received at the end of 2 years?

Detailed Solution for MCQ: Compound Interest - 2 - Question 10

Interest in two years

Hence, Option B is correct.

MCQ: Compound Interest - 2 - Question 11

A sum of money is invested in a scheme for 2 years at r% p.a. compounding annually. If the interest obtained is 36% of the amount obtained, what is the value of r?

Detailed Solution for MCQ: Compound Interest - 2 - Question 11

Principal : Interest : Amount = 64 : 36 : 100

R = 25
Hence, Option A is correct.

MCQ: Compound Interest - 2 - Question 12

Anita deposited a certain sum of money at 20% p.a. compound interest for 2 years. Varun deposited 3/4 times as much money as Anita at the same rate for 3 years. The amount received by Varun is what percent less than that received by Anita?

Detailed Solution for MCQ: Compound Interest - 2 - Question 12

Let the sum invested by Anita = 4P and that by Varun = 3P
The ratio of the amount of Anita : Varun

Hence, Option D is correct.

MCQ: Compound Interest - 2 - Question 13

A sum of money is invested in a scheme which offers different rates of compound interest for different years. The rate of interest for the first year, the second year and the third years is 25%, 40% and 5x%, respectively. If the ratio of the sum of money to the amount is 8 : 21, what is the value of x?

Detailed Solution for MCQ: Compound Interest - 2 - Question 13

x = 10
Hence, Option B is correct.

MCQ: Compound Interest - 2 - Question 14

A sum of Rs. 20y deposited in a scheme at 10% p.a. compound interest gives Rs. 7x as interest in 2 years. What is x as a percentage of y?

Detailed Solution for MCQ: Compound Interest - 2 - Question 14

Hence, Option C is correct.

MCQ: Compound Interest - 2 - Question 15

A sum of Rs. 40,000 is borrowed at compound interest and the rate of interest for the first, second and third years is 10%, 5% and 14.29% p.a. respectively. What is the total amount (in Rs.) obtained after 3 years?

Detailed Solution for MCQ: Compound Interest - 2 - Question 15

Hence, Option C is correct.

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## Quantitative Aptitude for SSC CGL

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