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Page 1
Pinnacle Day: 82nd - 83rd Compound Interest
Compound Interest
Key - Points:
1. For one year or one term simple
interest and compound interest are the
same.
2. In simple interest you divide the simple
interest by the number of years to
calculate one year interest but in
compound interest this is not applicable.
3. Compound Interest is the interest on
amount (principal + Interest); Symbol we
will use ‘CI’.
Let us say one person borrows Rs.100
for 3 years at the rate of 10% annually.
What amount should he have to return
after 3 years?
Here is the approximation technique to
solve this problem:
Compound interest will be =
133.10 – 100 = 33.1 Rs.
The above concept can also be written
as:
Amount = =133.10
100 × 110 × 110 × 110
100 × 100 × 100
CI = Amount – Principal
CI = 133.10 – 100 = 33.10
Or, Amount = Principal (1 + )
t
??
100
= 100 (1 + )
3
10
100
= 100 ×
11
10
×
11
10
×
11
10
= 133 . 10
CI = 33.10
So all the above concepts have the same
result, but if you want to solve questions
quickly and without using formulas then
it is advised to develop mastery on
approximation technique.
Note : Notice that in CI, interest is
calculated on the amount at the end of
every year while in SI interest for each
year is calculated on the Principal
amount.
4. If rate of interest is different for
different year, let us say 10% for 1
st
year,
20% for 2
nd
year, and 30% for 3
rd
year
then amount will be calculated as
follows:
We can also do it as: Amount =
100 × 110 × 120 × 130
100 × 100 × 100
= 171 . 60 ???? .
Important formulas :
Amount = A
Principal = P
Compound Interest = CI
Rate of interest = R
Time = no. of cycles = n
1. CI = Amount - Principal
2. When interest is compounded
annually :
A (in CI) = P )
n
( 1 +
??
100
3. When interest is compounded
half-yearly :
A (in CI) = P )
2n
( 1 +
?? /2
100
4. When interest is compounded
quarterly :
A (in CI) = P )
4n
( 1 +
?? /4
100
5. When interest is compounded
monthly :
A (in CI) = P )
12n
( 1 +
?? /12
100
6. When the interest is compounded
annually and time period is given in
fraction, say for 3 years:-
2
5
A (in CI) = P )
3
( 1 +
??
100
× ( 1 +
2
5
??
100
)
7. When different interest rates for
different years are given, say , , ??
1
% ??
2
%
, and for 1st, 2nd, 3rd and 4th ??
3
% ??
4
%
year respectively :
A (in CI) = P ) ( ) ( 1 +
??
1
100
× 1 +
??
2
100
×
( ) ( ) 1 +
??
3
100
× 1 +
??
4
100
8. Equated monthly instalment (EMI)
concept :
Amount borrowed =
??
( 1 +
??
100
)
??
where = Instalment (EMI) ??
Example : Find the amount which is
needed to be paid each year to clear the
debt of ?2,10,000 in 2 years at 10%
interest rate.
Solution :
210000 = +
??
( 1 +
10
100
)
2
??
( 1 +
10
100
)
210000 = +
??
(
11
10
)
2
??
(
11
10
)
210000 = + ?
100 ??
121
10 ??
11
210000 = ?
100 ?? + 110 ??
121
210000 = = ?1,21,000 ?
210 ??
121
? ??
9. When the interest is compounded 8
monthly, time period is 2 years and the
interest rate is 12% p.a., then
For 12 months, interest rate = 12%, so for
8 months, interest rate = = 8%
8 × 12
12
Here, time period = 2 years = 24 months
So, = 3 , so we need to conduct 3
24
8
cycles each of interest rate 8% in order to
calculate required CI.
10. Effective C.I. rate for two interest
rates = (a + b + )%, where a and b
????
100
are interest rates.
11. Effective C.I. rate for three interest
rates =
(a + b + c + + )%
???? + ???? + ????
100
??????
10000
where a, b and c are interest rates.
12. Effective rates :-
Years ?
Rate ?
2nd 3rd 4th
5% 10.25% 15.7625% 21.550625%
10% 21% 33.1% 46.41%
20% 44% 72.8% 107.36%
Variety Questions
Q.1. The compound interest on ?10,000
at 20% per annum is ?4,641. If
compounded half yearly, for how many
years was the principal invested?
SSC CGL Tier II (26/10/2023)
(a) 4 (b) 6 (c) 3 (d) 2
Q.2. Jonathan had borrowed a sum of
money 3 years ago at 10% interest per
annum compounded annually for a
5-year period, with the amount to be paid
at the end of the period being ?1,61,051.
However, there is no prepayment penalty
and Jonathan has received some bonus
payment now, with which he has decided
to clear his debt. How much does
Jonathan have to pay now to clear his
debt?
SSC CPO 03/10/2023 (1st Shift)
(a) ?1,33,100 (b) ?1,33,200
(c) ?1,33,000 (d) ?1,32,900
Q.3. Money is doubled in a bank account
in 7 years, when the Interest is
compounded annually: What time in
years is needed to make an amount 8
times in the bank?
SSC MTS 14/09/2023 (2nd Shift)
(a) 21 (b) 14 (c) 35 (d) 28
Q.4. A bank offers compound interest at
the rate 5% per annum calculated half
yearly on its deposits. A customer
deposits ?2,400 each on 1st January
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Page 2
Pinnacle Day: 82nd - 83rd Compound Interest
Compound Interest
Key - Points:
1. For one year or one term simple
interest and compound interest are the
same.
2. In simple interest you divide the simple
interest by the number of years to
calculate one year interest but in
compound interest this is not applicable.
3. Compound Interest is the interest on
amount (principal + Interest); Symbol we
will use ‘CI’.
Let us say one person borrows Rs.100
for 3 years at the rate of 10% annually.
What amount should he have to return
after 3 years?
Here is the approximation technique to
solve this problem:
Compound interest will be =
133.10 – 100 = 33.1 Rs.
The above concept can also be written
as:
Amount = =133.10
100 × 110 × 110 × 110
100 × 100 × 100
CI = Amount – Principal
CI = 133.10 – 100 = 33.10
Or, Amount = Principal (1 + )
t
??
100
= 100 (1 + )
3
10
100
= 100 ×
11
10
×
11
10
×
11
10
= 133 . 10
CI = 33.10
So all the above concepts have the same
result, but if you want to solve questions
quickly and without using formulas then
it is advised to develop mastery on
approximation technique.
Note : Notice that in CI, interest is
calculated on the amount at the end of
every year while in SI interest for each
year is calculated on the Principal
amount.
4. If rate of interest is different for
different year, let us say 10% for 1
st
year,
20% for 2
nd
year, and 30% for 3
rd
year
then amount will be calculated as
follows:
We can also do it as: Amount =
100 × 110 × 120 × 130
100 × 100 × 100
= 171 . 60 ???? .
Important formulas :
Amount = A
Principal = P
Compound Interest = CI
Rate of interest = R
Time = no. of cycles = n
1. CI = Amount - Principal
2. When interest is compounded
annually :
A (in CI) = P )
n
( 1 +
??
100
3. When interest is compounded
half-yearly :
A (in CI) = P )
2n
( 1 +
?? /2
100
4. When interest is compounded
quarterly :
A (in CI) = P )
4n
( 1 +
?? /4
100
5. When interest is compounded
monthly :
A (in CI) = P )
12n
( 1 +
?? /12
100
6. When the interest is compounded
annually and time period is given in
fraction, say for 3 years:-
2
5
A (in CI) = P )
3
( 1 +
??
100
× ( 1 +
2
5
??
100
)
7. When different interest rates for
different years are given, say , , ??
1
% ??
2
%
, and for 1st, 2nd, 3rd and 4th ??
3
% ??
4
%
year respectively :
A (in CI) = P ) ( ) ( 1 +
??
1
100
× 1 +
??
2
100
×
( ) ( ) 1 +
??
3
100
× 1 +
??
4
100
8. Equated monthly instalment (EMI)
concept :
Amount borrowed =
??
( 1 +
??
100
)
??
where = Instalment (EMI) ??
Example : Find the amount which is
needed to be paid each year to clear the
debt of ?2,10,000 in 2 years at 10%
interest rate.
Solution :
210000 = +
??
( 1 +
10
100
)
2
??
( 1 +
10
100
)
210000 = +
??
(
11
10
)
2
??
(
11
10
)
210000 = + ?
100 ??
121
10 ??
11
210000 = ?
100 ?? + 110 ??
121
210000 = = ?1,21,000 ?
210 ??
121
? ??
9. When the interest is compounded 8
monthly, time period is 2 years and the
interest rate is 12% p.a., then
For 12 months, interest rate = 12%, so for
8 months, interest rate = = 8%
8 × 12
12
Here, time period = 2 years = 24 months
So, = 3 , so we need to conduct 3
24
8
cycles each of interest rate 8% in order to
calculate required CI.
10. Effective C.I. rate for two interest
rates = (a + b + )%, where a and b
????
100
are interest rates.
11. Effective C.I. rate for three interest
rates =
(a + b + c + + )%
???? + ???? + ????
100
??????
10000
where a, b and c are interest rates.
12. Effective rates :-
Years ?
Rate ?
2nd 3rd 4th
5% 10.25% 15.7625% 21.550625%
10% 21% 33.1% 46.41%
20% 44% 72.8% 107.36%
Variety Questions
Q.1. The compound interest on ?10,000
at 20% per annum is ?4,641. If
compounded half yearly, for how many
years was the principal invested?
SSC CGL Tier II (26/10/2023)
(a) 4 (b) 6 (c) 3 (d) 2
Q.2. Jonathan had borrowed a sum of
money 3 years ago at 10% interest per
annum compounded annually for a
5-year period, with the amount to be paid
at the end of the period being ?1,61,051.
However, there is no prepayment penalty
and Jonathan has received some bonus
payment now, with which he has decided
to clear his debt. How much does
Jonathan have to pay now to clear his
debt?
SSC CPO 03/10/2023 (1st Shift)
(a) ?1,33,100 (b) ?1,33,200
(c) ?1,33,000 (d) ?1,32,900
Q.3. Money is doubled in a bank account
in 7 years, when the Interest is
compounded annually: What time in
years is needed to make an amount 8
times in the bank?
SSC MTS 14/09/2023 (2nd Shift)
(a) 21 (b) 14 (c) 35 (d) 28
Q.4. A bank offers compound interest at
the rate 5% per annum calculated half
yearly on its deposits. A customer
deposits ?2,400 each on 1st January
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Pinnacle Day: 82nd - 83rd Compound Interest
and 1st July of a year. Find the amount
he received at the end of the year.
SSC MTS 12/09/2023 (2nd Shift)
(a) 180.50 (b) 4,981.50 ? ?
(c) 181.50 (d) 4,081.50 ? ?
Q.5. What will be the present value of
?13,230 due two years hence, when the
interest is compounded at the rate of 5%
per annum ?
SSC CHSL 07/08/2023 (1st Shift)
(a) ?13,000 (b) ?10,500
(c) ?11,500 (d) ?12,000
Q.6. If the difference between the
compound interest and simple interest
on a certain sum of money for 3 years at
the rate of 4% per annum is 76, then ?
what is the sum ?
SSC CHSL 04/08/2023 (1st Shift)
(a) 16,725 (b) 12,925 ? ?
(c) 15,625 (d) 18,825 ? ?
Q.7. A sum amounts to ?6,120 in 2 years
and ?7,340 in 3 years at compound
interest. The sum (in ?) is (rounded off to
2 decimal places):
SSC CHSL 03/08/2023 (2nd Shift)
(a) 4,050.13 (b) 4,254.63
(c) 4,850.32 (d) 4,560.23
Q.8. A certain amount of money was lent
for a period of 1 year 9 months at a rate
of 10% per annum compounded annually.
If the compound interest is ?1,460, ?nd
the amount of money lent.
SSC CHSL 02/08/2023 (1st Shift)
(a) ?8,200 (b) ?7,500
(c) ?6,000 (d) ?8,000
Q.9. Rs. 2400 is lent at the rate of 10
percent per annum. Which of the
following statement(s) is/are correct?
I. The compound interest (compounding
annually) for 3 years is Rs. 794.4.
II. The difference between simple interest
and compound interest (compounding
annually) after 3 years is Rs. 75.8
SSC MTS 18/05/2023 (Afternoon)
(a) None of the statements are correct
(b) Only statement I is correct
(c) Only statement II is correct
(d) Both statement I and II are correct
Q.10. The difference between compound
interest and simple interest on Rs. x at
25% per annum for 2 years is Rs. 325.
Find the value of x.
SSC MTS 10/05/2023 (Afternoon)
(a) Rs. 5200 (b) Rs. 4000
(c) Rs. 5300 (d) Rs. 2400
Q.11. Rs. 6000 is lent at the annual rate
of 10 percent for 2 years. Which of the
following is statement(s) is/are correct ?
I. Simple interest to be received on this
sum is Rs. 1200
II. Compound Interest (compounding
annually) to be received on this sum is
Rs. 1260
SSC CHSL 10/03/2023 (2nd Shift)
(a) Statement I is correct
(b) Both statement I and II are correct
(c) Statement II is correct
(d) None of them are correct.
Q.12. A man borrowed Rs.50,000 from a
bank at 10% per annum, compounded
annually. At the end of every year, he
pays Rs.15,000 as part payment of the
loan and interest. How much does he still
owe to the bank after three such
installments ?
SSC CPO 10/11/2022 (Morning)
(a) Rs.16,900 (b) Rs.15,800
(c) Rs.15,200 (d) Rs.16,200
Q.13. Vipul and Manish invested the sum
of 15000 and 20000 at the rate of 20 ? ?
percent p.a. and 30 percent p.a.
respectively on compound interest
(compounding annually). If the time
period is 3 years for both, then what will
be the total compound interest earned by
Vipul and Manish ?
SSC CGL Tier II (08/08/2022)
(a) 32480 (b) 31688 ? ?
(c) 29460 (d) 34860 ? ?
Q.14. A person invests Rs 55,000 for two
years on compound interest such that
the rate of interest for the ?rst year is 8%
per annum and that for the second year
is 12% per annum, and the interest is
compounded annually. What is the total
interest earned by the person ?
SSC MTS 20/07/2022 (Evening)
(a) Rs 11,645 (b) Rs 11,528
(c) Rs 12,386 (d) Rs 10,847
Q.15. In what time will ?3,90,625 amount
to ?4,56,976 at 8% per annum, interest
being compounded half-yearly?
SSC CHSL 08/06/2022 (Afternoon)
(a) 2 years (b) years 1
1
2
(c) years (d) 1 years 2
1
2
Q.16. A certain sum is invested at 26%
p.a, interest compounded annually. In
how many years (approx) will it double?
SSC CHSL 01/06/2022 (Morning)
(a) 4 (b) 3 (c) 2 (d) 5
Q.17. Divide ?66,300 between A and B in
such a way that the amount that A
receives after 8 years is equal to the
amount that B receives after 10 years;
with compound interest being
compounded annually at a rate of 10%
per annum.
SSC CGL 20/04/2022 (Evening)
(a) A = ?35,520, B = ?30,810
(b) A = ?35,200, B = ?31,100
(c) A = ?37,000, B = ?29,300
(d) A = ?36,300, B = ?30,000
Q.18. A certain sum was invested for
three years in a scheme in which the
interest gets compounded annually.
During the ?rst two years, the scheme
provided growth at the rates of 80% and
60%, respectively, but during the third
year there was a decline by 40%. What
was the overall interest rate for three
years ?
SSC MTS 12/10/2021 (Afternoon)
(a) 24% (b) 20% (c) 22.5% (d) 48.6%
Q.19. A sum of ?5,760 amounts to
?7,200 in 4 years and to ?x in 12 years at
a certain rate percent per annum, when
the interest is compounded yearly in both
the cases. What is the value of x?
SSC MTS 06/10/2021 (Evening)
(a) 11500 (b) 11250 (c) 12500 (d) 12250
Q.20. Atul borrowed a sum of Rs. 12000
and agreed to repay it by paying Rs. 4800
at the end of ?rst year and Rs. 9240 at
the end of second year. What is the rate
of compound interest compounded
annually ?
SSC CGL 24/08/2021 (Afternoon)
(a) 10 % (b) 12 % (c) % (d) 8 %
8
5
Q.21. A and B together borrowed a sum
of ? 51,750 at an interest rate of 7% p.a.
compound interest in such a way that to
settle the loan, A paid as much amount
after three years as paid by B after 4
years from the day of borrowing. The
sum (in ?) borrowed by A was:
SSC CGL 05/03/2020 (Afternoon)
(a) 25,000 (b) 25,650
(c) 24,860 (d) 26,750
Q.22. A certain loan was returned in two
equal half yearly installments each of Rs
6,760. If the rate of interest was 8% p.a.,
compounded yearly, how much was the
interest paid on the loan?
SSC CGL Tier II (13/09/2019)
(a) ? 750 (b) ? 810 (c) ? 790 (d) ? 770
Q.23. A certain sum amounts to Rs
4,205.55 at 15% p.a. In 2 years, interest
2
5
compounded yearly. The sum (in ? ) is:
SSC CGL Tier II (13/09/2019)
(a) 3,200 (b) 3,500 (c) 2,700 (d) 3,000
Q.24. A loan has to be returned in two
equal yearly installments each of Rs
44,100. If the rate of interest is 5% p.a.,
compounded annually, then the total
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Page 3
Pinnacle Day: 82nd - 83rd Compound Interest
Compound Interest
Key - Points:
1. For one year or one term simple
interest and compound interest are the
same.
2. In simple interest you divide the simple
interest by the number of years to
calculate one year interest but in
compound interest this is not applicable.
3. Compound Interest is the interest on
amount (principal + Interest); Symbol we
will use ‘CI’.
Let us say one person borrows Rs.100
for 3 years at the rate of 10% annually.
What amount should he have to return
after 3 years?
Here is the approximation technique to
solve this problem:
Compound interest will be =
133.10 – 100 = 33.1 Rs.
The above concept can also be written
as:
Amount = =133.10
100 × 110 × 110 × 110
100 × 100 × 100
CI = Amount – Principal
CI = 133.10 – 100 = 33.10
Or, Amount = Principal (1 + )
t
??
100
= 100 (1 + )
3
10
100
= 100 ×
11
10
×
11
10
×
11
10
= 133 . 10
CI = 33.10
So all the above concepts have the same
result, but if you want to solve questions
quickly and without using formulas then
it is advised to develop mastery on
approximation technique.
Note : Notice that in CI, interest is
calculated on the amount at the end of
every year while in SI interest for each
year is calculated on the Principal
amount.
4. If rate of interest is different for
different year, let us say 10% for 1
st
year,
20% for 2
nd
year, and 30% for 3
rd
year
then amount will be calculated as
follows:
We can also do it as: Amount =
100 × 110 × 120 × 130
100 × 100 × 100
= 171 . 60 ???? .
Important formulas :
Amount = A
Principal = P
Compound Interest = CI
Rate of interest = R
Time = no. of cycles = n
1. CI = Amount - Principal
2. When interest is compounded
annually :
A (in CI) = P )
n
( 1 +
??
100
3. When interest is compounded
half-yearly :
A (in CI) = P )
2n
( 1 +
?? /2
100
4. When interest is compounded
quarterly :
A (in CI) = P )
4n
( 1 +
?? /4
100
5. When interest is compounded
monthly :
A (in CI) = P )
12n
( 1 +
?? /12
100
6. When the interest is compounded
annually and time period is given in
fraction, say for 3 years:-
2
5
A (in CI) = P )
3
( 1 +
??
100
× ( 1 +
2
5
??
100
)
7. When different interest rates for
different years are given, say , , ??
1
% ??
2
%
, and for 1st, 2nd, 3rd and 4th ??
3
% ??
4
%
year respectively :
A (in CI) = P ) ( ) ( 1 +
??
1
100
× 1 +
??
2
100
×
( ) ( ) 1 +
??
3
100
× 1 +
??
4
100
8. Equated monthly instalment (EMI)
concept :
Amount borrowed =
??
( 1 +
??
100
)
??
where = Instalment (EMI) ??
Example : Find the amount which is
needed to be paid each year to clear the
debt of ?2,10,000 in 2 years at 10%
interest rate.
Solution :
210000 = +
??
( 1 +
10
100
)
2
??
( 1 +
10
100
)
210000 = +
??
(
11
10
)
2
??
(
11
10
)
210000 = + ?
100 ??
121
10 ??
11
210000 = ?
100 ?? + 110 ??
121
210000 = = ?1,21,000 ?
210 ??
121
? ??
9. When the interest is compounded 8
monthly, time period is 2 years and the
interest rate is 12% p.a., then
For 12 months, interest rate = 12%, so for
8 months, interest rate = = 8%
8 × 12
12
Here, time period = 2 years = 24 months
So, = 3 , so we need to conduct 3
24
8
cycles each of interest rate 8% in order to
calculate required CI.
10. Effective C.I. rate for two interest
rates = (a + b + )%, where a and b
????
100
are interest rates.
11. Effective C.I. rate for three interest
rates =
(a + b + c + + )%
???? + ???? + ????
100
??????
10000
where a, b and c are interest rates.
12. Effective rates :-
Years ?
Rate ?
2nd 3rd 4th
5% 10.25% 15.7625% 21.550625%
10% 21% 33.1% 46.41%
20% 44% 72.8% 107.36%
Variety Questions
Q.1. The compound interest on ?10,000
at 20% per annum is ?4,641. If
compounded half yearly, for how many
years was the principal invested?
SSC CGL Tier II (26/10/2023)
(a) 4 (b) 6 (c) 3 (d) 2
Q.2. Jonathan had borrowed a sum of
money 3 years ago at 10% interest per
annum compounded annually for a
5-year period, with the amount to be paid
at the end of the period being ?1,61,051.
However, there is no prepayment penalty
and Jonathan has received some bonus
payment now, with which he has decided
to clear his debt. How much does
Jonathan have to pay now to clear his
debt?
SSC CPO 03/10/2023 (1st Shift)
(a) ?1,33,100 (b) ?1,33,200
(c) ?1,33,000 (d) ?1,32,900
Q.3. Money is doubled in a bank account
in 7 years, when the Interest is
compounded annually: What time in
years is needed to make an amount 8
times in the bank?
SSC MTS 14/09/2023 (2nd Shift)
(a) 21 (b) 14 (c) 35 (d) 28
Q.4. A bank offers compound interest at
the rate 5% per annum calculated half
yearly on its deposits. A customer
deposits ?2,400 each on 1st January
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Pinnacle Day: 82nd - 83rd Compound Interest
and 1st July of a year. Find the amount
he received at the end of the year.
SSC MTS 12/09/2023 (2nd Shift)
(a) 180.50 (b) 4,981.50 ? ?
(c) 181.50 (d) 4,081.50 ? ?
Q.5. What will be the present value of
?13,230 due two years hence, when the
interest is compounded at the rate of 5%
per annum ?
SSC CHSL 07/08/2023 (1st Shift)
(a) ?13,000 (b) ?10,500
(c) ?11,500 (d) ?12,000
Q.6. If the difference between the
compound interest and simple interest
on a certain sum of money for 3 years at
the rate of 4% per annum is 76, then ?
what is the sum ?
SSC CHSL 04/08/2023 (1st Shift)
(a) 16,725 (b) 12,925 ? ?
(c) 15,625 (d) 18,825 ? ?
Q.7. A sum amounts to ?6,120 in 2 years
and ?7,340 in 3 years at compound
interest. The sum (in ?) is (rounded off to
2 decimal places):
SSC CHSL 03/08/2023 (2nd Shift)
(a) 4,050.13 (b) 4,254.63
(c) 4,850.32 (d) 4,560.23
Q.8. A certain amount of money was lent
for a period of 1 year 9 months at a rate
of 10% per annum compounded annually.
If the compound interest is ?1,460, ?nd
the amount of money lent.
SSC CHSL 02/08/2023 (1st Shift)
(a) ?8,200 (b) ?7,500
(c) ?6,000 (d) ?8,000
Q.9. Rs. 2400 is lent at the rate of 10
percent per annum. Which of the
following statement(s) is/are correct?
I. The compound interest (compounding
annually) for 3 years is Rs. 794.4.
II. The difference between simple interest
and compound interest (compounding
annually) after 3 years is Rs. 75.8
SSC MTS 18/05/2023 (Afternoon)
(a) None of the statements are correct
(b) Only statement I is correct
(c) Only statement II is correct
(d) Both statement I and II are correct
Q.10. The difference between compound
interest and simple interest on Rs. x at
25% per annum for 2 years is Rs. 325.
Find the value of x.
SSC MTS 10/05/2023 (Afternoon)
(a) Rs. 5200 (b) Rs. 4000
(c) Rs. 5300 (d) Rs. 2400
Q.11. Rs. 6000 is lent at the annual rate
of 10 percent for 2 years. Which of the
following is statement(s) is/are correct ?
I. Simple interest to be received on this
sum is Rs. 1200
II. Compound Interest (compounding
annually) to be received on this sum is
Rs. 1260
SSC CHSL 10/03/2023 (2nd Shift)
(a) Statement I is correct
(b) Both statement I and II are correct
(c) Statement II is correct
(d) None of them are correct.
Q.12. A man borrowed Rs.50,000 from a
bank at 10% per annum, compounded
annually. At the end of every year, he
pays Rs.15,000 as part payment of the
loan and interest. How much does he still
owe to the bank after three such
installments ?
SSC CPO 10/11/2022 (Morning)
(a) Rs.16,900 (b) Rs.15,800
(c) Rs.15,200 (d) Rs.16,200
Q.13. Vipul and Manish invested the sum
of 15000 and 20000 at the rate of 20 ? ?
percent p.a. and 30 percent p.a.
respectively on compound interest
(compounding annually). If the time
period is 3 years for both, then what will
be the total compound interest earned by
Vipul and Manish ?
SSC CGL Tier II (08/08/2022)
(a) 32480 (b) 31688 ? ?
(c) 29460 (d) 34860 ? ?
Q.14. A person invests Rs 55,000 for two
years on compound interest such that
the rate of interest for the ?rst year is 8%
per annum and that for the second year
is 12% per annum, and the interest is
compounded annually. What is the total
interest earned by the person ?
SSC MTS 20/07/2022 (Evening)
(a) Rs 11,645 (b) Rs 11,528
(c) Rs 12,386 (d) Rs 10,847
Q.15. In what time will ?3,90,625 amount
to ?4,56,976 at 8% per annum, interest
being compounded half-yearly?
SSC CHSL 08/06/2022 (Afternoon)
(a) 2 years (b) years 1
1
2
(c) years (d) 1 years 2
1
2
Q.16. A certain sum is invested at 26%
p.a, interest compounded annually. In
how many years (approx) will it double?
SSC CHSL 01/06/2022 (Morning)
(a) 4 (b) 3 (c) 2 (d) 5
Q.17. Divide ?66,300 between A and B in
such a way that the amount that A
receives after 8 years is equal to the
amount that B receives after 10 years;
with compound interest being
compounded annually at a rate of 10%
per annum.
SSC CGL 20/04/2022 (Evening)
(a) A = ?35,520, B = ?30,810
(b) A = ?35,200, B = ?31,100
(c) A = ?37,000, B = ?29,300
(d) A = ?36,300, B = ?30,000
Q.18. A certain sum was invested for
three years in a scheme in which the
interest gets compounded annually.
During the ?rst two years, the scheme
provided growth at the rates of 80% and
60%, respectively, but during the third
year there was a decline by 40%. What
was the overall interest rate for three
years ?
SSC MTS 12/10/2021 (Afternoon)
(a) 24% (b) 20% (c) 22.5% (d) 48.6%
Q.19. A sum of ?5,760 amounts to
?7,200 in 4 years and to ?x in 12 years at
a certain rate percent per annum, when
the interest is compounded yearly in both
the cases. What is the value of x?
SSC MTS 06/10/2021 (Evening)
(a) 11500 (b) 11250 (c) 12500 (d) 12250
Q.20. Atul borrowed a sum of Rs. 12000
and agreed to repay it by paying Rs. 4800
at the end of ?rst year and Rs. 9240 at
the end of second year. What is the rate
of compound interest compounded
annually ?
SSC CGL 24/08/2021 (Afternoon)
(a) 10 % (b) 12 % (c) % (d) 8 %
8
5
Q.21. A and B together borrowed a sum
of ? 51,750 at an interest rate of 7% p.a.
compound interest in such a way that to
settle the loan, A paid as much amount
after three years as paid by B after 4
years from the day of borrowing. The
sum (in ?) borrowed by A was:
SSC CGL 05/03/2020 (Afternoon)
(a) 25,000 (b) 25,650
(c) 24,860 (d) 26,750
Q.22. A certain loan was returned in two
equal half yearly installments each of Rs
6,760. If the rate of interest was 8% p.a.,
compounded yearly, how much was the
interest paid on the loan?
SSC CGL Tier II (13/09/2019)
(a) ? 750 (b) ? 810 (c) ? 790 (d) ? 770
Q.23. A certain sum amounts to Rs
4,205.55 at 15% p.a. In 2 years, interest
2
5
compounded yearly. The sum (in ? ) is:
SSC CGL Tier II (13/09/2019)
(a) 3,200 (b) 3,500 (c) 2,700 (d) 3,000
Q.24. A loan has to be returned in two
equal yearly installments each of Rs
44,100. If the rate of interest is 5% p.a.,
compounded annually, then the total
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Pinnacle Day: 82nd - 83rd Compound Interest
interest paid is:
SSC CGL Tier II (12/09/2019)
(a) ?5840 (b) ?6000 (c) ?6200 (d) ?6280
Q.25. A sum of Rs 18000 is lent at 10%
p.a. compound interest, compounded
annually. What is the difference
between the compound interest for 3rd
year and 4th year?
SSC CGL Tier II (11/09/2019)
(a) Rs 220.60 (b) Rs 217.80
(c) Rs 221.80 (d) Rs 215.40
Q.26 . What will be the compound interest
on a sum of Rs 31,250 for 2 years at 12%
p.a., if the interest is compounded
8-monthly?
SSC CGL Tier II (11/09/2019)
(a) ?8106 (b) ?8116 (c) ?8016 (d) ?8156
Q.27. If the compound interest in the
third year at 8% p.a. on a certain sum is
Rs 3600, then what is the difference
between the compound interest in the
4th and 5th year? (nearest to an integer
in Rs)
SSC MTS 22/08/2019 (Evening)
(a) ? 304 (b) ? 335 (c) ? 288 (d) ? 311
Q.28. What is the present value of Rs.
14739 payable in 3 years at the rate of
6.25% yearly compound interest ?
SSC MTS 21/08/2019 (Evening)
(a) Rs 12184 (b) Rs 12288
(c) Rs 12473 (d) Rs 12148
Q.29. If the rate of interest is 20% per
annum, compounded yearly and the
interest on a certain sum in the second
year is Rs 250, then what will be the
interest on the same sum in the ?fth year
SSC MTS 20/08/2019 (Morning)
(a) ? 518 (b) ? 400 (c) ? 360 (d) ? 432
Q.30. A certain sum invested on
compound interest (compounded
annually) grows to Rs 5040 in three
years. If the rate of interest is 20% for the
?rst year, 40% for the second and 50% for
the third year, then what is the sum?
SSC MTS 07/08/2019 (Morning)
(a) ?1210 (b) ?2566 (c) ?1800 (d) ?2000
Q.31. The simple interest on a certain
sum at 20% p.a for two years is Rs. 250.
What is the compound interest
(compounded annually) on the same
sum at the same rate for the same
period?
SSC MTS 05/08/2019 (Evening)
(a) ? 275 (b) ? 900 (c) ? 550 (d) ? 750
Q.32. A sum of money becomes 3 times
in 10 years at the rate of compound
interest (compounded annually), In how
many years will it become 81 times?
SSC MTS 02/08/2019 (Evening)
(a) 40 years (b) 50 years
(c) 35 years (d) 30 years
Q.33. The difference between the
compound interest and the simple
interest on a sum at 10% p.a. for three
years is Rs 155. the sum (in Rs) is:
SSC CHSL 11/07/2019 (Afternoon)
(a) 5500 (b) 6000 (c) 6600 (d) 5000
Q.34. A certain amount invested at a
certain rate, compounded annually,
grows to an amount in ?ve years, which
is a factor of 1.1881 more than to what it
would have grown in three years. What is
the rate percentage?
SSC CHSL 04/07/2019 (Evening)
(a) 9 (b) 8.1 (c) 8 (d) 9.2
Q.35. Rs 60000 invested at a certain rate
for a certain even number of years,
compounded annually, grows to Rs
63,654. To how much amount would it
grow if it is invested at the same rate for
half period?
SSC CHSL 04/07/2019 (Afternoon)
(a) Rs 61800 (b) Rs 61809
(c) Rs 61675 (d) Rs 61827
Q.36. A sum invested at 8% p.a. amounts
to Rs 20280 at the end of one year, when
the interest is compounded half yearly.
What will be the simple interest on the
same sum for 4 years at double the
3
5
earlier rate of interest?
SSC CHSL 04/07/2019 (Morning)
(a) Rs 13500 (b) Rs 13800
(c) Rs 14200 (d) Rs 14500
Q.37. The simple interest on a certain
sum for 3 years at 10% per annum is
1
2
Rs 2,940. What will be the compound
interest on the same sum for 2 years
1
2
at the same rate when interest is
compounded yearly (nearest to a rupee)?
SSC CHSL 02/07/2019 (Afternoon)
(a) 2,272 (b) 2,227 (c) 2,327 (d) 2,372
Q.38. The difference between the
compound interest and simple interest
on Rs x at 8% per annum for 2 years is Rs
19.20. What is the value of x ?
SSC CGL 10/06/2019 (Afternoon)
(a) 2,500 (b) 3,200 (c) 2,800 (d) 3,000
Q.39. A sum of Rs 12,000 amounts to Rs
20,736 in 3 years at a certain rate percent
per annum, interest compounded
annually. What will the amount of the
same sum be in 2 years at the same rate
on compound interest ?
SSC CGL 10/06/2019 (Morning)
(a) Rs 15,640 (b) Rs 17,820
(c) Rs 17,280 (d) Rs 14,520
Q.40. A sum of Rs x was borrowed and
paid back in two equal yearly
installments, each of Rs 35,280. If the
rate of interest was 5%, compounded
annually, then the value of x is:
SSC CGL 07/06/2019 (Afternoon)
(a) 64,400 (b) 65,600
(c) 64,800 (d) 65,400
Q.41. A person borrowed a certain sum
at 10% p.a. for three years, interest being
compounded annually. At the end of two
years, he repaid a sum of Rs. 6634 and at
the end of the third year, he cleared off
the debt by paying Rs. 13,200. What was
the sum borrowed by him ?
SSC CGL 06/06/2019 (Evening)
(a) Rs. 16,400 (b) Rs. 15,400
(c) Rs. 15,600 (d) Rs. 16,500
Q.42 . A sum of Rs 15,000 is lent at 16%
p.a. compound interest. What is the
difference between the compound
interest for the second year and the third
year ?
SSC CGL 06/06/2019 (Morning)
(a) Rs 544 (b) Rs 445.44
(c) Rs 454.88 (d) Rs 548
Q.43. What will be the compound interest
(nearest to Rs 1) on a sum of Rs 25,000
for 2 years at 12% p.a., if the interest is
compounded 8-monthly?
SSC CGL 04/06/2019 (Evening)
(a) Rs 6,394 (b) Rs 6.439
(c) Rs 6,493 (d) Rs 6.349
Q.44. The compound interest on a
certain sum in 2 years at 10% p.a.,
1
2
interest compounded yearly, is Rs 1,623.
The sum is :
SSC CGL 04/06/2019 (Afternoon)
(a) Rs 5,000 (b) Rs 6,000
(c) Rs 6,500 (d) Rs 7,200
Q.45. The interest on Rs 24,000 in years
compounded annually when the rates are
8% p.a and 10% p.a for two successive
years is:
SSC CPO 16/03/2019 (Afternoon)
(a) ?3994 (b) ?4512 (c) ?5040 (d) ?5866
Q.46. The annual interest compounded
on any amount is Rs 1,320 for the
second year and Rs 1,452 for the third
year. What will be the original amount at
the beginning of the ?rst year ?
SSC CPO 15/03/2019 (Evening)
(a) 12,650 (b) 13,200
(c) 12,970 (d) 12,000
Q.47. A sum of Rs 18,000 is invested for
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Page 4
Pinnacle Day: 82nd - 83rd Compound Interest
Compound Interest
Key - Points:
1. For one year or one term simple
interest and compound interest are the
same.
2. In simple interest you divide the simple
interest by the number of years to
calculate one year interest but in
compound interest this is not applicable.
3. Compound Interest is the interest on
amount (principal + Interest); Symbol we
will use ‘CI’.
Let us say one person borrows Rs.100
for 3 years at the rate of 10% annually.
What amount should he have to return
after 3 years?
Here is the approximation technique to
solve this problem:
Compound interest will be =
133.10 – 100 = 33.1 Rs.
The above concept can also be written
as:
Amount = =133.10
100 × 110 × 110 × 110
100 × 100 × 100
CI = Amount – Principal
CI = 133.10 – 100 = 33.10
Or, Amount = Principal (1 + )
t
??
100
= 100 (1 + )
3
10
100
= 100 ×
11
10
×
11
10
×
11
10
= 133 . 10
CI = 33.10
So all the above concepts have the same
result, but if you want to solve questions
quickly and without using formulas then
it is advised to develop mastery on
approximation technique.
Note : Notice that in CI, interest is
calculated on the amount at the end of
every year while in SI interest for each
year is calculated on the Principal
amount.
4. If rate of interest is different for
different year, let us say 10% for 1
st
year,
20% for 2
nd
year, and 30% for 3
rd
year
then amount will be calculated as
follows:
We can also do it as: Amount =
100 × 110 × 120 × 130
100 × 100 × 100
= 171 . 60 ???? .
Important formulas :
Amount = A
Principal = P
Compound Interest = CI
Rate of interest = R
Time = no. of cycles = n
1. CI = Amount - Principal
2. When interest is compounded
annually :
A (in CI) = P )
n
( 1 +
??
100
3. When interest is compounded
half-yearly :
A (in CI) = P )
2n
( 1 +
?? /2
100
4. When interest is compounded
quarterly :
A (in CI) = P )
4n
( 1 +
?? /4
100
5. When interest is compounded
monthly :
A (in CI) = P )
12n
( 1 +
?? /12
100
6. When the interest is compounded
annually and time period is given in
fraction, say for 3 years:-
2
5
A (in CI) = P )
3
( 1 +
??
100
× ( 1 +
2
5
??
100
)
7. When different interest rates for
different years are given, say , , ??
1
% ??
2
%
, and for 1st, 2nd, 3rd and 4th ??
3
% ??
4
%
year respectively :
A (in CI) = P ) ( ) ( 1 +
??
1
100
× 1 +
??
2
100
×
( ) ( ) 1 +
??
3
100
× 1 +
??
4
100
8. Equated monthly instalment (EMI)
concept :
Amount borrowed =
??
( 1 +
??
100
)
??
where = Instalment (EMI) ??
Example : Find the amount which is
needed to be paid each year to clear the
debt of ?2,10,000 in 2 years at 10%
interest rate.
Solution :
210000 = +
??
( 1 +
10
100
)
2
??
( 1 +
10
100
)
210000 = +
??
(
11
10
)
2
??
(
11
10
)
210000 = + ?
100 ??
121
10 ??
11
210000 = ?
100 ?? + 110 ??
121
210000 = = ?1,21,000 ?
210 ??
121
? ??
9. When the interest is compounded 8
monthly, time period is 2 years and the
interest rate is 12% p.a., then
For 12 months, interest rate = 12%, so for
8 months, interest rate = = 8%
8 × 12
12
Here, time period = 2 years = 24 months
So, = 3 , so we need to conduct 3
24
8
cycles each of interest rate 8% in order to
calculate required CI.
10. Effective C.I. rate for two interest
rates = (a + b + )%, where a and b
????
100
are interest rates.
11. Effective C.I. rate for three interest
rates =
(a + b + c + + )%
???? + ???? + ????
100
??????
10000
where a, b and c are interest rates.
12. Effective rates :-
Years ?
Rate ?
2nd 3rd 4th
5% 10.25% 15.7625% 21.550625%
10% 21% 33.1% 46.41%
20% 44% 72.8% 107.36%
Variety Questions
Q.1. The compound interest on ?10,000
at 20% per annum is ?4,641. If
compounded half yearly, for how many
years was the principal invested?
SSC CGL Tier II (26/10/2023)
(a) 4 (b) 6 (c) 3 (d) 2
Q.2. Jonathan had borrowed a sum of
money 3 years ago at 10% interest per
annum compounded annually for a
5-year period, with the amount to be paid
at the end of the period being ?1,61,051.
However, there is no prepayment penalty
and Jonathan has received some bonus
payment now, with which he has decided
to clear his debt. How much does
Jonathan have to pay now to clear his
debt?
SSC CPO 03/10/2023 (1st Shift)
(a) ?1,33,100 (b) ?1,33,200
(c) ?1,33,000 (d) ?1,32,900
Q.3. Money is doubled in a bank account
in 7 years, when the Interest is
compounded annually: What time in
years is needed to make an amount 8
times in the bank?
SSC MTS 14/09/2023 (2nd Shift)
(a) 21 (b) 14 (c) 35 (d) 28
Q.4. A bank offers compound interest at
the rate 5% per annum calculated half
yearly on its deposits. A customer
deposits ?2,400 each on 1st January
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and 1st July of a year. Find the amount
he received at the end of the year.
SSC MTS 12/09/2023 (2nd Shift)
(a) 180.50 (b) 4,981.50 ? ?
(c) 181.50 (d) 4,081.50 ? ?
Q.5. What will be the present value of
?13,230 due two years hence, when the
interest is compounded at the rate of 5%
per annum ?
SSC CHSL 07/08/2023 (1st Shift)
(a) ?13,000 (b) ?10,500
(c) ?11,500 (d) ?12,000
Q.6. If the difference between the
compound interest and simple interest
on a certain sum of money for 3 years at
the rate of 4% per annum is 76, then ?
what is the sum ?
SSC CHSL 04/08/2023 (1st Shift)
(a) 16,725 (b) 12,925 ? ?
(c) 15,625 (d) 18,825 ? ?
Q.7. A sum amounts to ?6,120 in 2 years
and ?7,340 in 3 years at compound
interest. The sum (in ?) is (rounded off to
2 decimal places):
SSC CHSL 03/08/2023 (2nd Shift)
(a) 4,050.13 (b) 4,254.63
(c) 4,850.32 (d) 4,560.23
Q.8. A certain amount of money was lent
for a period of 1 year 9 months at a rate
of 10% per annum compounded annually.
If the compound interest is ?1,460, ?nd
the amount of money lent.
SSC CHSL 02/08/2023 (1st Shift)
(a) ?8,200 (b) ?7,500
(c) ?6,000 (d) ?8,000
Q.9. Rs. 2400 is lent at the rate of 10
percent per annum. Which of the
following statement(s) is/are correct?
I. The compound interest (compounding
annually) for 3 years is Rs. 794.4.
II. The difference between simple interest
and compound interest (compounding
annually) after 3 years is Rs. 75.8
SSC MTS 18/05/2023 (Afternoon)
(a) None of the statements are correct
(b) Only statement I is correct
(c) Only statement II is correct
(d) Both statement I and II are correct
Q.10. The difference between compound
interest and simple interest on Rs. x at
25% per annum for 2 years is Rs. 325.
Find the value of x.
SSC MTS 10/05/2023 (Afternoon)
(a) Rs. 5200 (b) Rs. 4000
(c) Rs. 5300 (d) Rs. 2400
Q.11. Rs. 6000 is lent at the annual rate
of 10 percent for 2 years. Which of the
following is statement(s) is/are correct ?
I. Simple interest to be received on this
sum is Rs. 1200
II. Compound Interest (compounding
annually) to be received on this sum is
Rs. 1260
SSC CHSL 10/03/2023 (2nd Shift)
(a) Statement I is correct
(b) Both statement I and II are correct
(c) Statement II is correct
(d) None of them are correct.
Q.12. A man borrowed Rs.50,000 from a
bank at 10% per annum, compounded
annually. At the end of every year, he
pays Rs.15,000 as part payment of the
loan and interest. How much does he still
owe to the bank after three such
installments ?
SSC CPO 10/11/2022 (Morning)
(a) Rs.16,900 (b) Rs.15,800
(c) Rs.15,200 (d) Rs.16,200
Q.13. Vipul and Manish invested the sum
of 15000 and 20000 at the rate of 20 ? ?
percent p.a. and 30 percent p.a.
respectively on compound interest
(compounding annually). If the time
period is 3 years for both, then what will
be the total compound interest earned by
Vipul and Manish ?
SSC CGL Tier II (08/08/2022)
(a) 32480 (b) 31688 ? ?
(c) 29460 (d) 34860 ? ?
Q.14. A person invests Rs 55,000 for two
years on compound interest such that
the rate of interest for the ?rst year is 8%
per annum and that for the second year
is 12% per annum, and the interest is
compounded annually. What is the total
interest earned by the person ?
SSC MTS 20/07/2022 (Evening)
(a) Rs 11,645 (b) Rs 11,528
(c) Rs 12,386 (d) Rs 10,847
Q.15. In what time will ?3,90,625 amount
to ?4,56,976 at 8% per annum, interest
being compounded half-yearly?
SSC CHSL 08/06/2022 (Afternoon)
(a) 2 years (b) years 1
1
2
(c) years (d) 1 years 2
1
2
Q.16. A certain sum is invested at 26%
p.a, interest compounded annually. In
how many years (approx) will it double?
SSC CHSL 01/06/2022 (Morning)
(a) 4 (b) 3 (c) 2 (d) 5
Q.17. Divide ?66,300 between A and B in
such a way that the amount that A
receives after 8 years is equal to the
amount that B receives after 10 years;
with compound interest being
compounded annually at a rate of 10%
per annum.
SSC CGL 20/04/2022 (Evening)
(a) A = ?35,520, B = ?30,810
(b) A = ?35,200, B = ?31,100
(c) A = ?37,000, B = ?29,300
(d) A = ?36,300, B = ?30,000
Q.18. A certain sum was invested for
three years in a scheme in which the
interest gets compounded annually.
During the ?rst two years, the scheme
provided growth at the rates of 80% and
60%, respectively, but during the third
year there was a decline by 40%. What
was the overall interest rate for three
years ?
SSC MTS 12/10/2021 (Afternoon)
(a) 24% (b) 20% (c) 22.5% (d) 48.6%
Q.19. A sum of ?5,760 amounts to
?7,200 in 4 years and to ?x in 12 years at
a certain rate percent per annum, when
the interest is compounded yearly in both
the cases. What is the value of x?
SSC MTS 06/10/2021 (Evening)
(a) 11500 (b) 11250 (c) 12500 (d) 12250
Q.20. Atul borrowed a sum of Rs. 12000
and agreed to repay it by paying Rs. 4800
at the end of ?rst year and Rs. 9240 at
the end of second year. What is the rate
of compound interest compounded
annually ?
SSC CGL 24/08/2021 (Afternoon)
(a) 10 % (b) 12 % (c) % (d) 8 %
8
5
Q.21. A and B together borrowed a sum
of ? 51,750 at an interest rate of 7% p.a.
compound interest in such a way that to
settle the loan, A paid as much amount
after three years as paid by B after 4
years from the day of borrowing. The
sum (in ?) borrowed by A was:
SSC CGL 05/03/2020 (Afternoon)
(a) 25,000 (b) 25,650
(c) 24,860 (d) 26,750
Q.22. A certain loan was returned in two
equal half yearly installments each of Rs
6,760. If the rate of interest was 8% p.a.,
compounded yearly, how much was the
interest paid on the loan?
SSC CGL Tier II (13/09/2019)
(a) ? 750 (b) ? 810 (c) ? 790 (d) ? 770
Q.23. A certain sum amounts to Rs
4,205.55 at 15% p.a. In 2 years, interest
2
5
compounded yearly. The sum (in ? ) is:
SSC CGL Tier II (13/09/2019)
(a) 3,200 (b) 3,500 (c) 2,700 (d) 3,000
Q.24. A loan has to be returned in two
equal yearly installments each of Rs
44,100. If the rate of interest is 5% p.a.,
compounded annually, then the total
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Pinnacle Day: 82nd - 83rd Compound Interest
interest paid is:
SSC CGL Tier II (12/09/2019)
(a) ?5840 (b) ?6000 (c) ?6200 (d) ?6280
Q.25. A sum of Rs 18000 is lent at 10%
p.a. compound interest, compounded
annually. What is the difference
between the compound interest for 3rd
year and 4th year?
SSC CGL Tier II (11/09/2019)
(a) Rs 220.60 (b) Rs 217.80
(c) Rs 221.80 (d) Rs 215.40
Q.26 . What will be the compound interest
on a sum of Rs 31,250 for 2 years at 12%
p.a., if the interest is compounded
8-monthly?
SSC CGL Tier II (11/09/2019)
(a) ?8106 (b) ?8116 (c) ?8016 (d) ?8156
Q.27. If the compound interest in the
third year at 8% p.a. on a certain sum is
Rs 3600, then what is the difference
between the compound interest in the
4th and 5th year? (nearest to an integer
in Rs)
SSC MTS 22/08/2019 (Evening)
(a) ? 304 (b) ? 335 (c) ? 288 (d) ? 311
Q.28. What is the present value of Rs.
14739 payable in 3 years at the rate of
6.25% yearly compound interest ?
SSC MTS 21/08/2019 (Evening)
(a) Rs 12184 (b) Rs 12288
(c) Rs 12473 (d) Rs 12148
Q.29. If the rate of interest is 20% per
annum, compounded yearly and the
interest on a certain sum in the second
year is Rs 250, then what will be the
interest on the same sum in the ?fth year
SSC MTS 20/08/2019 (Morning)
(a) ? 518 (b) ? 400 (c) ? 360 (d) ? 432
Q.30. A certain sum invested on
compound interest (compounded
annually) grows to Rs 5040 in three
years. If the rate of interest is 20% for the
?rst year, 40% for the second and 50% for
the third year, then what is the sum?
SSC MTS 07/08/2019 (Morning)
(a) ?1210 (b) ?2566 (c) ?1800 (d) ?2000
Q.31. The simple interest on a certain
sum at 20% p.a for two years is Rs. 250.
What is the compound interest
(compounded annually) on the same
sum at the same rate for the same
period?
SSC MTS 05/08/2019 (Evening)
(a) ? 275 (b) ? 900 (c) ? 550 (d) ? 750
Q.32. A sum of money becomes 3 times
in 10 years at the rate of compound
interest (compounded annually), In how
many years will it become 81 times?
SSC MTS 02/08/2019 (Evening)
(a) 40 years (b) 50 years
(c) 35 years (d) 30 years
Q.33. The difference between the
compound interest and the simple
interest on a sum at 10% p.a. for three
years is Rs 155. the sum (in Rs) is:
SSC CHSL 11/07/2019 (Afternoon)
(a) 5500 (b) 6000 (c) 6600 (d) 5000
Q.34. A certain amount invested at a
certain rate, compounded annually,
grows to an amount in ?ve years, which
is a factor of 1.1881 more than to what it
would have grown in three years. What is
the rate percentage?
SSC CHSL 04/07/2019 (Evening)
(a) 9 (b) 8.1 (c) 8 (d) 9.2
Q.35. Rs 60000 invested at a certain rate
for a certain even number of years,
compounded annually, grows to Rs
63,654. To how much amount would it
grow if it is invested at the same rate for
half period?
SSC CHSL 04/07/2019 (Afternoon)
(a) Rs 61800 (b) Rs 61809
(c) Rs 61675 (d) Rs 61827
Q.36. A sum invested at 8% p.a. amounts
to Rs 20280 at the end of one year, when
the interest is compounded half yearly.
What will be the simple interest on the
same sum for 4 years at double the
3
5
earlier rate of interest?
SSC CHSL 04/07/2019 (Morning)
(a) Rs 13500 (b) Rs 13800
(c) Rs 14200 (d) Rs 14500
Q.37. The simple interest on a certain
sum for 3 years at 10% per annum is
1
2
Rs 2,940. What will be the compound
interest on the same sum for 2 years
1
2
at the same rate when interest is
compounded yearly (nearest to a rupee)?
SSC CHSL 02/07/2019 (Afternoon)
(a) 2,272 (b) 2,227 (c) 2,327 (d) 2,372
Q.38. The difference between the
compound interest and simple interest
on Rs x at 8% per annum for 2 years is Rs
19.20. What is the value of x ?
SSC CGL 10/06/2019 (Afternoon)
(a) 2,500 (b) 3,200 (c) 2,800 (d) 3,000
Q.39. A sum of Rs 12,000 amounts to Rs
20,736 in 3 years at a certain rate percent
per annum, interest compounded
annually. What will the amount of the
same sum be in 2 years at the same rate
on compound interest ?
SSC CGL 10/06/2019 (Morning)
(a) Rs 15,640 (b) Rs 17,820
(c) Rs 17,280 (d) Rs 14,520
Q.40. A sum of Rs x was borrowed and
paid back in two equal yearly
installments, each of Rs 35,280. If the
rate of interest was 5%, compounded
annually, then the value of x is:
SSC CGL 07/06/2019 (Afternoon)
(a) 64,400 (b) 65,600
(c) 64,800 (d) 65,400
Q.41. A person borrowed a certain sum
at 10% p.a. for three years, interest being
compounded annually. At the end of two
years, he repaid a sum of Rs. 6634 and at
the end of the third year, he cleared off
the debt by paying Rs. 13,200. What was
the sum borrowed by him ?
SSC CGL 06/06/2019 (Evening)
(a) Rs. 16,400 (b) Rs. 15,400
(c) Rs. 15,600 (d) Rs. 16,500
Q.42 . A sum of Rs 15,000 is lent at 16%
p.a. compound interest. What is the
difference between the compound
interest for the second year and the third
year ?
SSC CGL 06/06/2019 (Morning)
(a) Rs 544 (b) Rs 445.44
(c) Rs 454.88 (d) Rs 548
Q.43. What will be the compound interest
(nearest to Rs 1) on a sum of Rs 25,000
for 2 years at 12% p.a., if the interest is
compounded 8-monthly?
SSC CGL 04/06/2019 (Evening)
(a) Rs 6,394 (b) Rs 6.439
(c) Rs 6,493 (d) Rs 6.349
Q.44. The compound interest on a
certain sum in 2 years at 10% p.a.,
1
2
interest compounded yearly, is Rs 1,623.
The sum is :
SSC CGL 04/06/2019 (Afternoon)
(a) Rs 5,000 (b) Rs 6,000
(c) Rs 6,500 (d) Rs 7,200
Q.45. The interest on Rs 24,000 in years
compounded annually when the rates are
8% p.a and 10% p.a for two successive
years is:
SSC CPO 16/03/2019 (Afternoon)
(a) ?3994 (b) ?4512 (c) ?5040 (d) ?5866
Q.46. The annual interest compounded
on any amount is Rs 1,320 for the
second year and Rs 1,452 for the third
year. What will be the original amount at
the beginning of the ?rst year ?
SSC CPO 15/03/2019 (Evening)
(a) 12,650 (b) 13,200
(c) 12,970 (d) 12,000
Q.47. A sum of Rs 18,000 is invested for
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Pinnacle Day: 82nd - 83rd Compound Interest
16 months at 8% per annum
compounded half-yearly. What is the
percentage gain ?
SSC CPO 12/03/2019 (Evening)
(a) 9% (b) 11% (c) 10% (d) 12%
Practice Questions
SSC CHSL 2023 Tier - 2
Q.48. The compound interest of ?6,000
in two years, if the rate of interest is 2.5%
per annum for the ?rst year and 2% per
annum for the second year, will be:
SSC CHSL Tier II 10/01/2024
(a) ?273 (b) ?135 (c) ?270 (d) ?240
SSC CPO 2023 Tier - 1
Q.49. A sum of ?1,00,000 was taken from
a bank at the rate of 7% p.a to be
compounded annually for 5 years.
Calculate the compound interest.
(Closest to a ?)
SSC CPO 03/10/2023 (2nd Shift)
(a) ?40,567 (b) ?40,000
(c) ?20,963 (d) ?40,255
Q.50. A sum of money was invested at
10% interest per year, compounded
half-yearly, for 18 months. If the amount
payable on maturity was ?64,827, what
was the sum invested ?
SSC CPO 04/10/2023 (1st Shift)
(a) ?55,600 (b) ?56,500
(c) ?56,800 (d) ?56,000
Q.51. Peter invested a certain sum of
money in a scheme paying 10% simple
interest per annum, while Rachel
invested half of the sum that Peter
invested in a scheme paying 10% interest
per annum compounded annually. Also,
while Peter invested for 2 years, Rachel
invested for 3 years. If the difference in
the interest earned by Peter and Rachel
was ?897, what was the sum that Rachel
had invested ?
SSC CPO 04/10/2023 (2nd Shift)
(a) ?12,900 (b) ?13,000
(c) ?13,100 (d) ?12,960
Q.52. A sum of money amounts to
?1,200 in 2 years and becomes ?1,260 in
3 years at compound interest, when
interest is compounded annually. What is
the rate of compound interest per
annum?
SSC CPO 04/10/2023 (3rd Shift)
(a) 6% (b) 3% (c) 5% (d) 4%
Q.53. If interest be compounded
half-yearly, then ?nd the compound
interest on ?8,000 at 20% p.a. for 1 year.
SSC CPO 05/10/2023 (1st Shift)
(a) ?1685 (b) ?1680 (c) ?1675 (d) ?1690
Q.54. Find the amount (integral value
only) if a sum of ?6,500 is being
borrowed at 10% interest per annum for
2 years if interest is compounded half -
yearly.
SSC CPO 05/10/2023 (2nd Shift)
(a) ?7900 (b) ?8150 (c) ?8250 (d) ?7650
SSC MTS 2023 Tier - 1
Q.55. Geeta deposited a certain sum of
money in her bank account which
amounted to ?27,783 in 3 years at 5% per
annum, the interest being compounded
annually. What amount did she deposit?
SSC MTS 01/09/2023 (1st Shift)
(a) ?25,500 (b) ?25,000
(c) ?26,000 (d) ?24,000
Q.56. A sum of money becomes ?6,400
in 3 years and ?8,100 in 5 years on
compound interest compounded
annually. Find the rate of interest per
annum.
SSC MTS 01/09/2023 (2nd Shift)
(a) 12 (b) 12 (c) 12 (d) 12
3
8
4
8
6
8
5
8
Q.57. The difference in interests earned
on ?1,50,000 at an 8% rate of interest per
annum in a year when the interest in
compounded semi-annually and annually,
respectively, is ? ______.
SSC MTS 01/09/2023 (3rd Shift)
(a) 360 (b) 120 (c) 240 (d) 420
Q.58. At what rate of interest per annum,
compounded annually, will an amount of
?8,000 yield a compound interest of
?904.2 in 2 years ?
SSC MTS 04/09/2023 (1st Shift)
(a) 6% (b) 8% (c) 10% (d) 5.5%
Q.59. Find the compound interest
(Compounded annually) on ?2,000 for 2
years at 10% per annum.
1
2
SSC MTS 04/09/2023 (2nd Shift)
(a) ? 561 (b) ? 500 (c) ? 521 (d) ? 541
Q.60. The difference between the
compound interest (Compounded
annually) and simple interest for an
amount of ?85,000 in 2 years is ?850.
Find the rate of interest per annum.
SSC MTS 04/09/2023 (3rd Shift)
(a) 5% (b) 10% (c) 8% (d) 12%
Q.61. ?1,250 at 12% per annum
compounded annually will amount to
?1,568 in:
SSC MTS 05/09/2023 (1st Shift)
(a) 4 yrs (b) 1 yr (c) 2 yrs (d) 3 yrs
Q.62. Find the amount of ?75,000 for one
year at the rate of 16% per annum, if the
interest is compounded quarterly.
(rounded off to two decimal places)
SSC MTS 05/09/2023 (2nd Shift)
(a) ?87,379.40 (b) ?89,773.40
(c) ?87,937.40 (d) ?87,739.40
Q.63. In how many years will a sum of
?18,000 at 20% per annum compounded
half yearly becomes ? 23,958 ?
SSC MTS 05/09/2023 (3rd Shift)
(a) 1 (b) 3 (c) 1 (d) 2
1
2
1
2
1
4
1
2
Q.64. What is the difference between the
compound interest, interest compounded
half yearly on ?72,000 for 1.5 years at
10% per annum and its simple interest
for 3 years at 5% per annum?
SSC MTS 06/09/2023 (1st Shift)
(a) ?559 (b) ?549 (c) ?540 (d) ?449
Q.65. At what rate per annum will a sum
of ?6,400 fetch a compound interest
(Compounded annually) of ?1,344 in 2
years?
SSC MTS 06/09/2023 (2nd Shift)
(a) 10% (b) 8% (c) 12% (d) 5%
Q.66. What sum of money invested at 8%
per annum in 1 years, compounded
1
2
half-yearly, shall become ?17,576 ?
SSC MTS 06/09/2023 (3rd Shift)
(a) ?16,500 (b) ?15,000
(c) ?15,525 (d) ?15,625
Q.67. A deposited ?62,500 at the rate of
8% per annum compounded half yearly,
then what is the compound interest at
the end of two years?
SSC MTS 08/09/2023 (1st Shift)
(a) ?18,161.12 (b) ?12,171.72
(c) ?10,821.18 (d) ?10,616.16
Q.68. Find the amount if ?10,200 is
invested at the rate of 8% per annum
compound interest for 1 years when
1
2
interest is compounded half yearly (up to
two decimal places).
SSC MTS 08/09/2023 (2nd Shift)
(a) ?11,743.61 (b) ?11,473.61
(c) ?11,764.28 (d) ?11,347.28
Q.69. What will be the compound interest
on ?30,000 at 10% per annum for 1
1
2
years, when interest is compounded half-
yearly?
SSC MTS 08/09/2023 (3rd Shift)
(a) ?4,728.75 (b) ?4,800.75
(c) ?5,728.75 (d) ?4,928.75
Q.70. An amount of ?2,000 amounts to
?2,880 in 2 years. What will be the rate of
interest if compounded annually ?
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Page 5
Pinnacle Day: 82nd - 83rd Compound Interest
Compound Interest
Key - Points:
1. For one year or one term simple
interest and compound interest are the
same.
2. In simple interest you divide the simple
interest by the number of years to
calculate one year interest but in
compound interest this is not applicable.
3. Compound Interest is the interest on
amount (principal + Interest); Symbol we
will use ‘CI’.
Let us say one person borrows Rs.100
for 3 years at the rate of 10% annually.
What amount should he have to return
after 3 years?
Here is the approximation technique to
solve this problem:
Compound interest will be =
133.10 – 100 = 33.1 Rs.
The above concept can also be written
as:
Amount = =133.10
100 × 110 × 110 × 110
100 × 100 × 100
CI = Amount – Principal
CI = 133.10 – 100 = 33.10
Or, Amount = Principal (1 + )
t
??
100
= 100 (1 + )
3
10
100
= 100 ×
11
10
×
11
10
×
11
10
= 133 . 10
CI = 33.10
So all the above concepts have the same
result, but if you want to solve questions
quickly and without using formulas then
it is advised to develop mastery on
approximation technique.
Note : Notice that in CI, interest is
calculated on the amount at the end of
every year while in SI interest for each
year is calculated on the Principal
amount.
4. If rate of interest is different for
different year, let us say 10% for 1
st
year,
20% for 2
nd
year, and 30% for 3
rd
year
then amount will be calculated as
follows:
We can also do it as: Amount =
100 × 110 × 120 × 130
100 × 100 × 100
= 171 . 60 ???? .
Important formulas :
Amount = A
Principal = P
Compound Interest = CI
Rate of interest = R
Time = no. of cycles = n
1. CI = Amount - Principal
2. When interest is compounded
annually :
A (in CI) = P )
n
( 1 +
??
100
3. When interest is compounded
half-yearly :
A (in CI) = P )
2n
( 1 +
?? /2
100
4. When interest is compounded
quarterly :
A (in CI) = P )
4n
( 1 +
?? /4
100
5. When interest is compounded
monthly :
A (in CI) = P )
12n
( 1 +
?? /12
100
6. When the interest is compounded
annually and time period is given in
fraction, say for 3 years:-
2
5
A (in CI) = P )
3
( 1 +
??
100
× ( 1 +
2
5
??
100
)
7. When different interest rates for
different years are given, say , , ??
1
% ??
2
%
, and for 1st, 2nd, 3rd and 4th ??
3
% ??
4
%
year respectively :
A (in CI) = P ) ( ) ( 1 +
??
1
100
× 1 +
??
2
100
×
( ) ( ) 1 +
??
3
100
× 1 +
??
4
100
8. Equated monthly instalment (EMI)
concept :
Amount borrowed =
??
( 1 +
??
100
)
??
where = Instalment (EMI) ??
Example : Find the amount which is
needed to be paid each year to clear the
debt of ?2,10,000 in 2 years at 10%
interest rate.
Solution :
210000 = +
??
( 1 +
10
100
)
2
??
( 1 +
10
100
)
210000 = +
??
(
11
10
)
2
??
(
11
10
)
210000 = + ?
100 ??
121
10 ??
11
210000 = ?
100 ?? + 110 ??
121
210000 = = ?1,21,000 ?
210 ??
121
? ??
9. When the interest is compounded 8
monthly, time period is 2 years and the
interest rate is 12% p.a., then
For 12 months, interest rate = 12%, so for
8 months, interest rate = = 8%
8 × 12
12
Here, time period = 2 years = 24 months
So, = 3 , so we need to conduct 3
24
8
cycles each of interest rate 8% in order to
calculate required CI.
10. Effective C.I. rate for two interest
rates = (a + b + )%, where a and b
????
100
are interest rates.
11. Effective C.I. rate for three interest
rates =
(a + b + c + + )%
???? + ???? + ????
100
??????
10000
where a, b and c are interest rates.
12. Effective rates :-
Years ?
Rate ?
2nd 3rd 4th
5% 10.25% 15.7625% 21.550625%
10% 21% 33.1% 46.41%
20% 44% 72.8% 107.36%
Variety Questions
Q.1. The compound interest on ?10,000
at 20% per annum is ?4,641. If
compounded half yearly, for how many
years was the principal invested?
SSC CGL Tier II (26/10/2023)
(a) 4 (b) 6 (c) 3 (d) 2
Q.2. Jonathan had borrowed a sum of
money 3 years ago at 10% interest per
annum compounded annually for a
5-year period, with the amount to be paid
at the end of the period being ?1,61,051.
However, there is no prepayment penalty
and Jonathan has received some bonus
payment now, with which he has decided
to clear his debt. How much does
Jonathan have to pay now to clear his
debt?
SSC CPO 03/10/2023 (1st Shift)
(a) ?1,33,100 (b) ?1,33,200
(c) ?1,33,000 (d) ?1,32,900
Q.3. Money is doubled in a bank account
in 7 years, when the Interest is
compounded annually: What time in
years is needed to make an amount 8
times in the bank?
SSC MTS 14/09/2023 (2nd Shift)
(a) 21 (b) 14 (c) 35 (d) 28
Q.4. A bank offers compound interest at
the rate 5% per annum calculated half
yearly on its deposits. A customer
deposits ?2,400 each on 1st January
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Pinnacle Day: 82nd - 83rd Compound Interest
and 1st July of a year. Find the amount
he received at the end of the year.
SSC MTS 12/09/2023 (2nd Shift)
(a) 180.50 (b) 4,981.50 ? ?
(c) 181.50 (d) 4,081.50 ? ?
Q.5. What will be the present value of
?13,230 due two years hence, when the
interest is compounded at the rate of 5%
per annum ?
SSC CHSL 07/08/2023 (1st Shift)
(a) ?13,000 (b) ?10,500
(c) ?11,500 (d) ?12,000
Q.6. If the difference between the
compound interest and simple interest
on a certain sum of money for 3 years at
the rate of 4% per annum is 76, then ?
what is the sum ?
SSC CHSL 04/08/2023 (1st Shift)
(a) 16,725 (b) 12,925 ? ?
(c) 15,625 (d) 18,825 ? ?
Q.7. A sum amounts to ?6,120 in 2 years
and ?7,340 in 3 years at compound
interest. The sum (in ?) is (rounded off to
2 decimal places):
SSC CHSL 03/08/2023 (2nd Shift)
(a) 4,050.13 (b) 4,254.63
(c) 4,850.32 (d) 4,560.23
Q.8. A certain amount of money was lent
for a period of 1 year 9 months at a rate
of 10% per annum compounded annually.
If the compound interest is ?1,460, ?nd
the amount of money lent.
SSC CHSL 02/08/2023 (1st Shift)
(a) ?8,200 (b) ?7,500
(c) ?6,000 (d) ?8,000
Q.9. Rs. 2400 is lent at the rate of 10
percent per annum. Which of the
following statement(s) is/are correct?
I. The compound interest (compounding
annually) for 3 years is Rs. 794.4.
II. The difference between simple interest
and compound interest (compounding
annually) after 3 years is Rs. 75.8
SSC MTS 18/05/2023 (Afternoon)
(a) None of the statements are correct
(b) Only statement I is correct
(c) Only statement II is correct
(d) Both statement I and II are correct
Q.10. The difference between compound
interest and simple interest on Rs. x at
25% per annum for 2 years is Rs. 325.
Find the value of x.
SSC MTS 10/05/2023 (Afternoon)
(a) Rs. 5200 (b) Rs. 4000
(c) Rs. 5300 (d) Rs. 2400
Q.11. Rs. 6000 is lent at the annual rate
of 10 percent for 2 years. Which of the
following is statement(s) is/are correct ?
I. Simple interest to be received on this
sum is Rs. 1200
II. Compound Interest (compounding
annually) to be received on this sum is
Rs. 1260
SSC CHSL 10/03/2023 (2nd Shift)
(a) Statement I is correct
(b) Both statement I and II are correct
(c) Statement II is correct
(d) None of them are correct.
Q.12. A man borrowed Rs.50,000 from a
bank at 10% per annum, compounded
annually. At the end of every year, he
pays Rs.15,000 as part payment of the
loan and interest. How much does he still
owe to the bank after three such
installments ?
SSC CPO 10/11/2022 (Morning)
(a) Rs.16,900 (b) Rs.15,800
(c) Rs.15,200 (d) Rs.16,200
Q.13. Vipul and Manish invested the sum
of 15000 and 20000 at the rate of 20 ? ?
percent p.a. and 30 percent p.a.
respectively on compound interest
(compounding annually). If the time
period is 3 years for both, then what will
be the total compound interest earned by
Vipul and Manish ?
SSC CGL Tier II (08/08/2022)
(a) 32480 (b) 31688 ? ?
(c) 29460 (d) 34860 ? ?
Q.14. A person invests Rs 55,000 for two
years on compound interest such that
the rate of interest for the ?rst year is 8%
per annum and that for the second year
is 12% per annum, and the interest is
compounded annually. What is the total
interest earned by the person ?
SSC MTS 20/07/2022 (Evening)
(a) Rs 11,645 (b) Rs 11,528
(c) Rs 12,386 (d) Rs 10,847
Q.15. In what time will ?3,90,625 amount
to ?4,56,976 at 8% per annum, interest
being compounded half-yearly?
SSC CHSL 08/06/2022 (Afternoon)
(a) 2 years (b) years 1
1
2
(c) years (d) 1 years 2
1
2
Q.16. A certain sum is invested at 26%
p.a, interest compounded annually. In
how many years (approx) will it double?
SSC CHSL 01/06/2022 (Morning)
(a) 4 (b) 3 (c) 2 (d) 5
Q.17. Divide ?66,300 between A and B in
such a way that the amount that A
receives after 8 years is equal to the
amount that B receives after 10 years;
with compound interest being
compounded annually at a rate of 10%
per annum.
SSC CGL 20/04/2022 (Evening)
(a) A = ?35,520, B = ?30,810
(b) A = ?35,200, B = ?31,100
(c) A = ?37,000, B = ?29,300
(d) A = ?36,300, B = ?30,000
Q.18. A certain sum was invested for
three years in a scheme in which the
interest gets compounded annually.
During the ?rst two years, the scheme
provided growth at the rates of 80% and
60%, respectively, but during the third
year there was a decline by 40%. What
was the overall interest rate for three
years ?
SSC MTS 12/10/2021 (Afternoon)
(a) 24% (b) 20% (c) 22.5% (d) 48.6%
Q.19. A sum of ?5,760 amounts to
?7,200 in 4 years and to ?x in 12 years at
a certain rate percent per annum, when
the interest is compounded yearly in both
the cases. What is the value of x?
SSC MTS 06/10/2021 (Evening)
(a) 11500 (b) 11250 (c) 12500 (d) 12250
Q.20. Atul borrowed a sum of Rs. 12000
and agreed to repay it by paying Rs. 4800
at the end of ?rst year and Rs. 9240 at
the end of second year. What is the rate
of compound interest compounded
annually ?
SSC CGL 24/08/2021 (Afternoon)
(a) 10 % (b) 12 % (c) % (d) 8 %
8
5
Q.21. A and B together borrowed a sum
of ? 51,750 at an interest rate of 7% p.a.
compound interest in such a way that to
settle the loan, A paid as much amount
after three years as paid by B after 4
years from the day of borrowing. The
sum (in ?) borrowed by A was:
SSC CGL 05/03/2020 (Afternoon)
(a) 25,000 (b) 25,650
(c) 24,860 (d) 26,750
Q.22. A certain loan was returned in two
equal half yearly installments each of Rs
6,760. If the rate of interest was 8% p.a.,
compounded yearly, how much was the
interest paid on the loan?
SSC CGL Tier II (13/09/2019)
(a) ? 750 (b) ? 810 (c) ? 790 (d) ? 770
Q.23. A certain sum amounts to Rs
4,205.55 at 15% p.a. In 2 years, interest
2
5
compounded yearly. The sum (in ? ) is:
SSC CGL Tier II (13/09/2019)
(a) 3,200 (b) 3,500 (c) 2,700 (d) 3,000
Q.24. A loan has to be returned in two
equal yearly installments each of Rs
44,100. If the rate of interest is 5% p.a.,
compounded annually, then the total
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Pinnacle Day: 82nd - 83rd Compound Interest
interest paid is:
SSC CGL Tier II (12/09/2019)
(a) ?5840 (b) ?6000 (c) ?6200 (d) ?6280
Q.25. A sum of Rs 18000 is lent at 10%
p.a. compound interest, compounded
annually. What is the difference
between the compound interest for 3rd
year and 4th year?
SSC CGL Tier II (11/09/2019)
(a) Rs 220.60 (b) Rs 217.80
(c) Rs 221.80 (d) Rs 215.40
Q.26 . What will be the compound interest
on a sum of Rs 31,250 for 2 years at 12%
p.a., if the interest is compounded
8-monthly?
SSC CGL Tier II (11/09/2019)
(a) ?8106 (b) ?8116 (c) ?8016 (d) ?8156
Q.27. If the compound interest in the
third year at 8% p.a. on a certain sum is
Rs 3600, then what is the difference
between the compound interest in the
4th and 5th year? (nearest to an integer
in Rs)
SSC MTS 22/08/2019 (Evening)
(a) ? 304 (b) ? 335 (c) ? 288 (d) ? 311
Q.28. What is the present value of Rs.
14739 payable in 3 years at the rate of
6.25% yearly compound interest ?
SSC MTS 21/08/2019 (Evening)
(a) Rs 12184 (b) Rs 12288
(c) Rs 12473 (d) Rs 12148
Q.29. If the rate of interest is 20% per
annum, compounded yearly and the
interest on a certain sum in the second
year is Rs 250, then what will be the
interest on the same sum in the ?fth year
SSC MTS 20/08/2019 (Morning)
(a) ? 518 (b) ? 400 (c) ? 360 (d) ? 432
Q.30. A certain sum invested on
compound interest (compounded
annually) grows to Rs 5040 in three
years. If the rate of interest is 20% for the
?rst year, 40% for the second and 50% for
the third year, then what is the sum?
SSC MTS 07/08/2019 (Morning)
(a) ?1210 (b) ?2566 (c) ?1800 (d) ?2000
Q.31. The simple interest on a certain
sum at 20% p.a for two years is Rs. 250.
What is the compound interest
(compounded annually) on the same
sum at the same rate for the same
period?
SSC MTS 05/08/2019 (Evening)
(a) ? 275 (b) ? 900 (c) ? 550 (d) ? 750
Q.32. A sum of money becomes 3 times
in 10 years at the rate of compound
interest (compounded annually), In how
many years will it become 81 times?
SSC MTS 02/08/2019 (Evening)
(a) 40 years (b) 50 years
(c) 35 years (d) 30 years
Q.33. The difference between the
compound interest and the simple
interest on a sum at 10% p.a. for three
years is Rs 155. the sum (in Rs) is:
SSC CHSL 11/07/2019 (Afternoon)
(a) 5500 (b) 6000 (c) 6600 (d) 5000
Q.34. A certain amount invested at a
certain rate, compounded annually,
grows to an amount in ?ve years, which
is a factor of 1.1881 more than to what it
would have grown in three years. What is
the rate percentage?
SSC CHSL 04/07/2019 (Evening)
(a) 9 (b) 8.1 (c) 8 (d) 9.2
Q.35. Rs 60000 invested at a certain rate
for a certain even number of years,
compounded annually, grows to Rs
63,654. To how much amount would it
grow if it is invested at the same rate for
half period?
SSC CHSL 04/07/2019 (Afternoon)
(a) Rs 61800 (b) Rs 61809
(c) Rs 61675 (d) Rs 61827
Q.36. A sum invested at 8% p.a. amounts
to Rs 20280 at the end of one year, when
the interest is compounded half yearly.
What will be the simple interest on the
same sum for 4 years at double the
3
5
earlier rate of interest?
SSC CHSL 04/07/2019 (Morning)
(a) Rs 13500 (b) Rs 13800
(c) Rs 14200 (d) Rs 14500
Q.37. The simple interest on a certain
sum for 3 years at 10% per annum is
1
2
Rs 2,940. What will be the compound
interest on the same sum for 2 years
1
2
at the same rate when interest is
compounded yearly (nearest to a rupee)?
SSC CHSL 02/07/2019 (Afternoon)
(a) 2,272 (b) 2,227 (c) 2,327 (d) 2,372
Q.38. The difference between the
compound interest and simple interest
on Rs x at 8% per annum for 2 years is Rs
19.20. What is the value of x ?
SSC CGL 10/06/2019 (Afternoon)
(a) 2,500 (b) 3,200 (c) 2,800 (d) 3,000
Q.39. A sum of Rs 12,000 amounts to Rs
20,736 in 3 years at a certain rate percent
per annum, interest compounded
annually. What will the amount of the
same sum be in 2 years at the same rate
on compound interest ?
SSC CGL 10/06/2019 (Morning)
(a) Rs 15,640 (b) Rs 17,820
(c) Rs 17,280 (d) Rs 14,520
Q.40. A sum of Rs x was borrowed and
paid back in two equal yearly
installments, each of Rs 35,280. If the
rate of interest was 5%, compounded
annually, then the value of x is:
SSC CGL 07/06/2019 (Afternoon)
(a) 64,400 (b) 65,600
(c) 64,800 (d) 65,400
Q.41. A person borrowed a certain sum
at 10% p.a. for three years, interest being
compounded annually. At the end of two
years, he repaid a sum of Rs. 6634 and at
the end of the third year, he cleared off
the debt by paying Rs. 13,200. What was
the sum borrowed by him ?
SSC CGL 06/06/2019 (Evening)
(a) Rs. 16,400 (b) Rs. 15,400
(c) Rs. 15,600 (d) Rs. 16,500
Q.42 . A sum of Rs 15,000 is lent at 16%
p.a. compound interest. What is the
difference between the compound
interest for the second year and the third
year ?
SSC CGL 06/06/2019 (Morning)
(a) Rs 544 (b) Rs 445.44
(c) Rs 454.88 (d) Rs 548
Q.43. What will be the compound interest
(nearest to Rs 1) on a sum of Rs 25,000
for 2 years at 12% p.a., if the interest is
compounded 8-monthly?
SSC CGL 04/06/2019 (Evening)
(a) Rs 6,394 (b) Rs 6.439
(c) Rs 6,493 (d) Rs 6.349
Q.44. The compound interest on a
certain sum in 2 years at 10% p.a.,
1
2
interest compounded yearly, is Rs 1,623.
The sum is :
SSC CGL 04/06/2019 (Afternoon)
(a) Rs 5,000 (b) Rs 6,000
(c) Rs 6,500 (d) Rs 7,200
Q.45. The interest on Rs 24,000 in years
compounded annually when the rates are
8% p.a and 10% p.a for two successive
years is:
SSC CPO 16/03/2019 (Afternoon)
(a) ?3994 (b) ?4512 (c) ?5040 (d) ?5866
Q.46. The annual interest compounded
on any amount is Rs 1,320 for the
second year and Rs 1,452 for the third
year. What will be the original amount at
the beginning of the ?rst year ?
SSC CPO 15/03/2019 (Evening)
(a) 12,650 (b) 13,200
(c) 12,970 (d) 12,000
Q.47. A sum of Rs 18,000 is invested for
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Pinnacle Day: 82nd - 83rd Compound Interest
16 months at 8% per annum
compounded half-yearly. What is the
percentage gain ?
SSC CPO 12/03/2019 (Evening)
(a) 9% (b) 11% (c) 10% (d) 12%
Practice Questions
SSC CHSL 2023 Tier - 2
Q.48. The compound interest of ?6,000
in two years, if the rate of interest is 2.5%
per annum for the ?rst year and 2% per
annum for the second year, will be:
SSC CHSL Tier II 10/01/2024
(a) ?273 (b) ?135 (c) ?270 (d) ?240
SSC CPO 2023 Tier - 1
Q.49. A sum of ?1,00,000 was taken from
a bank at the rate of 7% p.a to be
compounded annually for 5 years.
Calculate the compound interest.
(Closest to a ?)
SSC CPO 03/10/2023 (2nd Shift)
(a) ?40,567 (b) ?40,000
(c) ?20,963 (d) ?40,255
Q.50. A sum of money was invested at
10% interest per year, compounded
half-yearly, for 18 months. If the amount
payable on maturity was ?64,827, what
was the sum invested ?
SSC CPO 04/10/2023 (1st Shift)
(a) ?55,600 (b) ?56,500
(c) ?56,800 (d) ?56,000
Q.51. Peter invested a certain sum of
money in a scheme paying 10% simple
interest per annum, while Rachel
invested half of the sum that Peter
invested in a scheme paying 10% interest
per annum compounded annually. Also,
while Peter invested for 2 years, Rachel
invested for 3 years. If the difference in
the interest earned by Peter and Rachel
was ?897, what was the sum that Rachel
had invested ?
SSC CPO 04/10/2023 (2nd Shift)
(a) ?12,900 (b) ?13,000
(c) ?13,100 (d) ?12,960
Q.52. A sum of money amounts to
?1,200 in 2 years and becomes ?1,260 in
3 years at compound interest, when
interest is compounded annually. What is
the rate of compound interest per
annum?
SSC CPO 04/10/2023 (3rd Shift)
(a) 6% (b) 3% (c) 5% (d) 4%
Q.53. If interest be compounded
half-yearly, then ?nd the compound
interest on ?8,000 at 20% p.a. for 1 year.
SSC CPO 05/10/2023 (1st Shift)
(a) ?1685 (b) ?1680 (c) ?1675 (d) ?1690
Q.54. Find the amount (integral value
only) if a sum of ?6,500 is being
borrowed at 10% interest per annum for
2 years if interest is compounded half -
yearly.
SSC CPO 05/10/2023 (2nd Shift)
(a) ?7900 (b) ?8150 (c) ?8250 (d) ?7650
SSC MTS 2023 Tier - 1
Q.55. Geeta deposited a certain sum of
money in her bank account which
amounted to ?27,783 in 3 years at 5% per
annum, the interest being compounded
annually. What amount did she deposit?
SSC MTS 01/09/2023 (1st Shift)
(a) ?25,500 (b) ?25,000
(c) ?26,000 (d) ?24,000
Q.56. A sum of money becomes ?6,400
in 3 years and ?8,100 in 5 years on
compound interest compounded
annually. Find the rate of interest per
annum.
SSC MTS 01/09/2023 (2nd Shift)
(a) 12 (b) 12 (c) 12 (d) 12
3
8
4
8
6
8
5
8
Q.57. The difference in interests earned
on ?1,50,000 at an 8% rate of interest per
annum in a year when the interest in
compounded semi-annually and annually,
respectively, is ? ______.
SSC MTS 01/09/2023 (3rd Shift)
(a) 360 (b) 120 (c) 240 (d) 420
Q.58. At what rate of interest per annum,
compounded annually, will an amount of
?8,000 yield a compound interest of
?904.2 in 2 years ?
SSC MTS 04/09/2023 (1st Shift)
(a) 6% (b) 8% (c) 10% (d) 5.5%
Q.59. Find the compound interest
(Compounded annually) on ?2,000 for 2
years at 10% per annum.
1
2
SSC MTS 04/09/2023 (2nd Shift)
(a) ? 561 (b) ? 500 (c) ? 521 (d) ? 541
Q.60. The difference between the
compound interest (Compounded
annually) and simple interest for an
amount of ?85,000 in 2 years is ?850.
Find the rate of interest per annum.
SSC MTS 04/09/2023 (3rd Shift)
(a) 5% (b) 10% (c) 8% (d) 12%
Q.61. ?1,250 at 12% per annum
compounded annually will amount to
?1,568 in:
SSC MTS 05/09/2023 (1st Shift)
(a) 4 yrs (b) 1 yr (c) 2 yrs (d) 3 yrs
Q.62. Find the amount of ?75,000 for one
year at the rate of 16% per annum, if the
interest is compounded quarterly.
(rounded off to two decimal places)
SSC MTS 05/09/2023 (2nd Shift)
(a) ?87,379.40 (b) ?89,773.40
(c) ?87,937.40 (d) ?87,739.40
Q.63. In how many years will a sum of
?18,000 at 20% per annum compounded
half yearly becomes ? 23,958 ?
SSC MTS 05/09/2023 (3rd Shift)
(a) 1 (b) 3 (c) 1 (d) 2
1
2
1
2
1
4
1
2
Q.64. What is the difference between the
compound interest, interest compounded
half yearly on ?72,000 for 1.5 years at
10% per annum and its simple interest
for 3 years at 5% per annum?
SSC MTS 06/09/2023 (1st Shift)
(a) ?559 (b) ?549 (c) ?540 (d) ?449
Q.65. At what rate per annum will a sum
of ?6,400 fetch a compound interest
(Compounded annually) of ?1,344 in 2
years?
SSC MTS 06/09/2023 (2nd Shift)
(a) 10% (b) 8% (c) 12% (d) 5%
Q.66. What sum of money invested at 8%
per annum in 1 years, compounded
1
2
half-yearly, shall become ?17,576 ?
SSC MTS 06/09/2023 (3rd Shift)
(a) ?16,500 (b) ?15,000
(c) ?15,525 (d) ?15,625
Q.67. A deposited ?62,500 at the rate of
8% per annum compounded half yearly,
then what is the compound interest at
the end of two years?
SSC MTS 08/09/2023 (1st Shift)
(a) ?18,161.12 (b) ?12,171.72
(c) ?10,821.18 (d) ?10,616.16
Q.68. Find the amount if ?10,200 is
invested at the rate of 8% per annum
compound interest for 1 years when
1
2
interest is compounded half yearly (up to
two decimal places).
SSC MTS 08/09/2023 (2nd Shift)
(a) ?11,743.61 (b) ?11,473.61
(c) ?11,764.28 (d) ?11,347.28
Q.69. What will be the compound interest
on ?30,000 at 10% per annum for 1
1
2
years, when interest is compounded half-
yearly?
SSC MTS 08/09/2023 (3rd Shift)
(a) ?4,728.75 (b) ?4,800.75
(c) ?5,728.75 (d) ?4,928.75
Q.70. An amount of ?2,000 amounts to
?2,880 in 2 years. What will be the rate of
interest if compounded annually ?
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Pinnacle Day: 82nd - 83rd Compound Interest
SSC MTS 11/09/2023 (1st Shift)
(a) 12% (b) 28% (c) 10% (d) 20%
Q.71. What is the compound interest
(in?) on ?20,500 for 2 years at 10% per
annum, if the interest is compounded
annually?
SSC MTS 11/09/2023 (2nd Shift)
(a) 5,403 (b) 4,305 (c) 4,530 (d) 4,350
Q.72. In how many years will ?1,60,000
become ?2,79,841 at a compound
interest (Compounded annually) rate of
15% per annum?
SSC MTS 11/09/2023 (3rd Shift)
(a) 6 (b) 3 (c) 5 (d) 4
Q.73. Hema invested ?1,728 at the rate
of compound interest (Compounded
annually) for 3 years. She got ?4,096
after the speci?ed period. Find the rate of
interest per annum.
SSC MTS 12/09/2023 (1st Shift)
(a) 33 % (b) 30 %
1
2
1
2
(c) 33 % (d) 30 %
1
3
1
3
Q.74. A sum of ?15,000 was lent for 3
years at the rate of 4%, 5%, 6% per
annum, respectively, at compound
interest for the ?rst year, second year and
third year compounded annually. Find the
compound interest for 3 years.
SSC MTS 12/09/2023 (3rd Shift)
(a) ?2,380.60 (b) ?2,382.60
(c) ?2,362.80 (d) ?2,380.80
Q.75. On what sum of money will the
difference between the simple interest
and compound interest (Compounded
annually) for 3 years at 5% per annum be
?15.25?
SSC MTS 13/09/2023 (1st Shift)
(a) ?2,500 (b) ?1,000
(c) ?4,000 (d) ?2,000
Q.76. Find the compound interest (in ?)
on ?500 in 2 years at 20% per annum if
the interest being compounded half -
yearly.
SSC MTS 13/09/2023 (3rd Shift)
(a) 232.05 (b) 132.05
(c) 225.08 (d) 264.05
Q.77. Mr Kalra borrowed ?1,35,000 to
meet the expenses of his son's
education. If the rate of interest is 12%
per annum compounded annually, then
how much amount will he have to make
after 2 years and 3 months to settle the
account?
SSC MTS 14/09/2023 (1st Shift)
(a) ?1,74,424.32 (b) ?1,50,640.40
(c) ?1,49,920.32 (d) ?1,74,760
Q.78. What is the amount (in ?) due on a
sum of money ?12,500 after one year if
the compound interest is payable half-
yearly at 12% per annum?
SSC MTS 14/09/2023 (3rd Shift)
(a) 14,450 (b) 14,540
(c) 15,440 (d) 14,045
SSC CHSL 2023 Tier - 1
Q.79. Find the compound interest on
?50,000 for one year at 8% per annum
when compounded half yearly.
SSC CHSL 02/08/2023 (2nd Shift)
(a) ?3,900 (b) ?3,880
(c) ?4,080 (d) ?3,950
Q.80. In how many years will ?40000
amount to ?46656 at the rate of 8%
compound interest per annum ?
SSC CHSL 02/08/2023 (3rd Shift)
(a) 5 (b) 2 (c) 4 (d) 3
Q.81. What is the compound interest on
?62,500 for 2 years at 8% per annum
compounded yearly ?
SSC CHSL 03/08/2023 (3rd Shift)
(a) ?10,500 (b) ?10,300
(c) ?10,400 (d) ?10,600
Q.82. What is the present value of the
sum if the interest compounded at the
rate of 18% per anmim for two years is
?981 ?
SSC CHSL 03/08/2023 (4th Shift)
(a) ?2,800 (b) ?2,500
(c) ?3,600 (d) ?2,400
Q.83. What is the compound interest on
?25,000 for 3 years at 10% per annum
compounded yearly ?
SSC CHSL 04/08/2023 (2nd Shift)
(a) ?8,125 (b) ?8,000
(c) ?8,200 (d) ?8,275
Q.84. Ashok invested ?18,000 for 3 years
at 5% compound interest in a post o?ce.
If the interest is compounded once in a
year, what sum will he get after 3 years ?
SSC CHSL 04/08/2023 (3rd Shift)
(a) 22,961.50 (b) 20,837.25 ? ?
(c) 22,6291.75 (d) 21,926.00 ? ?
Q.85. A certain sum was invested at the
rate of 10% for a period of 2 years at
compound interest and compounded
annually. The same sum was invested for
the same period and same rate of
interest at simple interest. If the
difference of compound interest and
simple interest was ?200, ?nd the sum.
SSC CHSL 04/08/2023 (4th Shift)
(a) ?30,000 (b) ?25,000
(c) ?22,000 (d) ?20,000
Q.86. Akhilesh invested a certain sum
which amounted to ?82,000 in 2 years at
6% per annum compound interest,
compounded annually. What was the
sum invested (in ? ) by Akhilesh? (round
off to the nearest integer)
SSC CHSL 07/08/2023 (2nd Shift)
(a) 73,980 (b) 72,680
(c) 72,980 (d) 70,980
Q.87. Kalyan invested a sum of ?12,000
for two years compounded at 5% and
10%, respectively. What is the compound
interest (in ?) at the end of two years ?
SSC CHSL 07/08/2023 (3rd Shift)
(a) 1,880 (b) 1,920 (c) 1,900 (d) 1,860
Q.88. Radha deposited ?1,60,000 at a
10% rate of compound interest per
annum for two years. If the interest is
compounded semi-annually, then what is
the compound interest (in ) ? ?
SSC CHSL 07/08/2023 (4th Shift)
(a) 16,400 (b) 34,481
(c) 74,256 (d) 33,600
Q.89. Find the compound interest on
?10,000 for 1 years at 20% per annum
1
2
interest is payable half - yearly
SSC CHSL 08/08/2023 (1st Shift)
(a) ?3,315 (b) ?3,310
(c) ?3,305 (d) ?3,320
Q.90. What is the amount (in? ) of debt
that will be discharged in 6 equal
installments of ?800 each, if the debt is
due in 6 years at 5% per annum ?
SSC CHSL 08/08/2023 (1st Shift)
(a) 6,600 (b) 7,500 (c) 8,000 (d) 5,400
Q.91. What is the approximate present
value (in ? lakh) of an income of ?2.1
lakh to be received after 2 years if the
rate of interest is 5% ?
SSC CHSL 08/08/2023 (2nd Shift)
(a) 1.815 (b) 1.975 (c) 1.725 (d) 1.905
Q.92. On a sum of money for 2 years
compound interest and simple interest
are ?550 and ?500. Find the rate of
interest (in per annum).
SSC CHSL 08/08/2023 (3rd Shift)
(a) 40% (b)10% (c) 20% (d) 30%
Q.93. Basanthi deposited 50,000 in a ?
co-operative bank which is giving
compound interest at the rate of 10% per
annum. What will be her interest in the
3rd year ?
SSC CHSL 08/08/2023 (4th Shift)
(a) 66,550 (b) 6,050 ? ?
(c) 5,050 (d) 10,050 ? ?
Q.94. The difference between the simple
interest and the compound interest on a
certain amount at 9 % per annum for two
years is ? 162, what is the principal ?
SSC CHSL 09/08/2023 (1st Shift)
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