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SSC CGL Exam  >  SSC CGL Tests  >  MCQ: Compound Interest - 1 - SSC CGL MCQ

MCQ: Compound Interest - 1 - SSC CGL MCQ


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15 Questions MCQ Test - MCQ: Compound Interest - 1

MCQ: Compound Interest - 1 for SSC CGL 2024 is part of SSC CGL preparation. The MCQ: Compound Interest - 1 questions and answers have been prepared according to the SSC CGL exam syllabus.The MCQ: Compound Interest - 1 MCQs are made for SSC CGL 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for MCQ: Compound Interest - 1 below.
Solutions of MCQ: Compound Interest - 1 questions in English are available as part of our course for SSC CGL & MCQ: Compound Interest - 1 solutions in Hindi for SSC CGL course. Download more important topics, notes, lectures and mock test series for SSC CGL Exam by signing up for free. Attempt MCQ: Compound Interest - 1 | 15 questions in 15 minutes | Mock test for SSC CGL preparation | Free important questions MCQ to study for SSC CGL Exam | Download free PDF with solutions
MCQ: Compound Interest - 1 - Question 1
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A certain sum at a certain rate of compound interest per annum amounts to Rs. 36,000 in 4 years and Rs. 37,800 in 5 years. What is the rate of interest?

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

In one year Rs. 36,000 becomes Rs. 37,800.

Hence, Option B is correct.

MCQ: Compound Interest - 1 - Question 2
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If the rate of compound interest interest for the first, the second and the third year is 10%, 5% and 20% p.a. respectively, how much will a sum of Rs. 10,000 amount to in 3 years?

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

Required amount

Hence, Option C is correct.

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MCQ: Compound Interest - 1 - Question 3
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If the difference between the simple interest and the compound interest on a sum of Rs. 4,000 in two years is Rs. 14.40, what is the rate of interest?

Detailed Solution for MCQ: Compound Interest - 1 - Question 3

Difference between the SI and CI of two years = Interest on the interest of the first year.
R% of R% of 4,000 = 14.40
R × R = 36
R = 6
So the answer = 6%
Hence, Option C is correct.

MCQ: Compound Interest - 1 - Question 4
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The difference between the simple interest and the compound interest on a sum at 20% per annum for 2 years is Rs. 16. What is the simple interest of two years?
Detailed Solution for MCQ: Compound Interest - 1 - Question 4

The difference between the simple interest and the compound interest = Interest on the interest of the first year
Interest on the interest of the first year = 20% of 20% = 4%
Simple interest = 20% × 2 = 40%

Hence, Option A is correct.

MCQ: Compound Interest - 1 - Question 5
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A sum of money at a certain rate of simple interest (per annum) becomes 5 times of itself in 2 years. A sum of Rs. 2000 amounts to what amount in 2 years at the same rate of interest compounding annually?
Detailed Solution for MCQ: Compound Interest - 1 - Question 5

Let the sum = P
Interest = 4P

R = 200
So the answer

Hence, Option D is correct.

MCQ: Compound Interest - 1 - Question 6
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A sum of money doubles itself in 4 years of compound interest. In what time will it amount to 8 times itself at the same rate of interest?
Detailed Solution for MCQ: Compound Interest - 1 - Question 6

Let the sum = X
After 4 years = 2X
After 4 more years = 2X × 2 = 4X
After 4 more years = 4X × 2 = 8X
So the answer = 4 + 4 + 4 = 12 years
Hence, Option B is correct.

MCQ: Compound Interest - 1 - Question 7
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The compound interest on a certain sum at a certain rate for 2 years is Rs. 270 and the simple interest on the same sum is Rs. 240 at the same rate and for the same time. What is the rate of interest?
Detailed Solution for MCQ: Compound Interest - 1 - Question 7


The difference between the simple interest and the compound interest is the same as the interest on interest.
So interest on Rs. 120 = (270 – 240) = 30

Hence, Option B is correct.

MCQ: Compound Interest - 1 - Question 8
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What would be the difference between the simple interest and the compound interest on a sum of Rs. 12,500 in two years at 20% p.a.?
Detailed Solution for MCQ: Compound Interest - 1 - Question 8

Difference between the SI and CI of two years = Interest on the interest of the first year.
So the answer = 12,500 × 20% × 20% = Rs. 500
Hence, Option A is correct.

MCQ: Compound Interest - 1 - Question 9
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At a certain rate of simple interest per annum Rs. 500 becomes Rs. 600 in two years. What would be the compound interest on the same sum at same rate in the same time?
Detailed Solution for MCQ: Compound Interest - 1 - Question 9




Hence, Option D is correct.

MCQ: Compound Interest - 1 - Question 10
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If the difference between the compound interest compounded half–yearly, and the simple interest on a certain sum of money at the rate of 20% per annum for one year is Rs. 44, what is the sum?
Detailed Solution for MCQ: Compound Interest - 1 - Question 10



Simple interest = 20%

Hence, Option B is correct.

MCQ: Compound Interest - 1 - Question 11
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In how many years will Rs. 4,000 amount to Rs. 5,760 at 20% per annum compound interest?
Detailed Solution for MCQ: Compound Interest - 1 - Question 11


x = 2
So the answer = 2 years
Hence, Option B is correct.

MCQ: Compound Interest - 1 - Question 12
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At what rate of compound interest per annum will Rs. 4800 amount to Rs. 5495.52 in 2 years?
Detailed Solution for MCQ: Compound Interest - 1 - Question 12

Let the rate = R

R = 7
So the answer = 7%
Hence, Option C is correct.

MCQ: Compound Interest - 1 - Question 13
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A certain sum at 20% per annum compounding annually becomes Rs. 8,640 in two years, what is the sum?
Detailed Solution for MCQ: Compound Interest - 1 - Question 13

Let the sum = S

S = 6,000
So the answer = Rs. 6,000
Hence, Option A is correct.

MCQ: Compound Interest - 1 - Question 14
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A sum of money becomes 4 times of itself in 2 years at compound interest. What is the rate of interest per annum?
Detailed Solution for MCQ: Compound Interest - 1 - Question 14

Since the time is two years:


Hence, Option D is correct.

MCQ: Compound Interest - 1 - Question 15
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Sunny deposited Rs. 2,25,000 at 6.67% per annum compounding annually. What amount will he get at the end of two years?
Detailed Solution for MCQ: Compound Interest - 1 - Question 15



Hence, Option B is correct.

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MCQ: Compound Interest - 1

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