Simple & Compound Interest For SSC CGL Exam, All Details

Simple & Compound Interest For SSC CGL Exam

Simple & Compound Interest For SSC CGL Exam: SI and CI questions are common topics that can appear in the Government Exams. Candidates might have learned many topics already during their school time that are included in the SSC CGL Exam. The Simple & Compound Interest for SSC CGL Exam is one of the topics among them. The concept of Simple & Compound Interest is easy to learn but the questions can be asked in a different. In this blog, we have provided the concept of SI & CI with questions based on different patterns along with the solutions. Candidates must solve the questions and analyze their performance.

Simple Interest & Compound Interest Concept

Before starting SI & CI let’s first understand “Interest“.

Interest: It is the amount to be paid on the borrowed money or the return earned on an investment.

Simple Interest

Simple Interest can be defined as it is the amount that is calculated on the principal amount or the initial sum of money.

Simple Interest Formula:

SI=(P x R x T)/100

• SI – Simple Interest
• P – Principal Amount (The amount borrowed or invested)
• R – Rate of Interest (in %) (Rate of Interest at which the principal amount is invested or borrowed for a period of time)
• T – Time period for which money is borrowed (no. of years)

Compound Interest

Compound Interest is a type of interest in which interest is earned on the principal amount and the accumulated interest from previous interest.

Compound Interest Formula:

Compound Interest= P(1+R/100)^T-P where,

• A = P (1 + R/100)t
• A = Total amount to the paid
• P = Principal Amount
• R = Rate of Interest
• t = Time period for which money is borrowed.

Questions on Simple & Compound Interest For SSC CGL

We have done with the theory and formula part, candidates are advised to learn the formula and note it down in their formula notebook. Now let’s come to the question part.

The question part is important because SSC can represent the questions of different types so practicing the different types of questions is very mandatory. We have provided questions in Hindi and English Language both. Let’s solve the questions:

Simple & Compound Interest Questions in the English Language

Question 1: In how many years a certain sum when invested at 12.5% p.a. simple interest will amount to 5 times of the principal sum?

A) 16 years

B) 32 years

C) 48 years

D) 24 years

Question 2: The value of a land was Rs. 2,50,000, in 2022. If the price of land appreciates at 8% p.a., then find the value of land 3 year hence from 2022.

A) Rs. 3,16,732

B) Rs. 3,12,728

C) Rs. 3,14,928

D) Rs. 3,18,932

Question 3: A certain sum amounts to Rs. 2,52,810 at compound interest of 6% p.a., compounded annually after two years. Find the sum.

A) Rs. 2,60,000

B) Rs. 2,25,000

C) Rs. 2,50,000

D) Rs. 2,40,000

Question 4: Find the difference between the compound interest (compounded annually) and the simple interest earned after 2 years when Rs. 4800 is invested at a rate of 15% p.a.

A) Rs. 128

B) Rs. 98

C) Rs. 116

D) Rs. 108

Question 5: Rs. 5,000 is invested for 2 years at compound interest (compounded annually) of 9% p.a. Find the interest earned.

A) Rs. 490.50

B) Rs. 880.50

C) Rs. 1,050

D) Rs. 940.50

Question 6: Find the compound interest earned on Rs. 1500 when invested at compounded interest (compounded annually) of 16% p.a. for 2 years.

A) Rs. 418.50

B) Rs. 500.42

C) Rs. 400.35

D) Rs. 518.40

Question 7: The compound interest on a sum of Rs. 20000 at 15% p.a. for 2(2/3) years, (interest compounded yearly) is:

A) Rs. 9098

B) Rs. 8896

C) Rs. 9000

D) Rs. 9095

Question 8: A sum of Rs. 2400 amounts to Rs. 2904 in two years at certain rate (p.a.) of compound interest, compounded annually. Find the rate of interest.

A) 11% p.a.

B) 10% p.a.

C) 12% p.a.

D) 15% p.a.

Question 9: A certain amount invested at compound interest of 12% p.a., compounded annually, amounts to Rs. 3136 in 2 years. What is 140% of the amount invested?

A) Rs. 3500

B) Rs. 2800

C) Rs. 3200

D) Rs. 4000

Question 10: A sum amounts to Rs. 27,560 when invested at simple interest of 8.4% p.a. for 4.5 years. Find the interest earned if same sum is invested at simple interest of 8% p.a. for 2.5 years.

A) Rs. 5,000

B) Rs. 4,000

C) Rs. 6,000

D) Rs. 10,000

Simple & Compound Interest Questions in the Hindi Language

प्रश्न 1: कितने वर्षों में एक राशि को 12.5% प्रतिवर्ष साधारण ब्याज पर निवेश करने पर वह राशि संचयित होकर मूलधन का 5 गुना होगा?

A) 16 years

B) 32 years

C) 48 years

D) 24 years

प्रश्न 2: 2022 में एक भूमि का मूल्य Rs. 2,50,000 था। यदि भूमि की कीमत 8% प्रति वर्ष की दर से बढ़ती है, तो 2022 से 3 वर्ष बाद भूमि का मूल्य ज्ञात करें।

A) Rs. 3,16,732

B) Rs. 3,12,728

C) Rs. 3,14,928

D) Rs. 3,18,932

प्रश्न 3: एक निश्चित राशि दो वर्षों के लिए 6% प्रति वर्ष चक्रवृद्धि ब्याज (वार्षिक देय) पर निवेश करने के बाद संचयित होकर Rs.2,52,810 हो जाती है। राशि ज्ञात करें।

A) Rs. 2,60,000

B) Rs. 2,25,000

C) Rs. 2,50,000

D) Rs. 2,40,000

प्रश्न 4: 2 वर्ष बाद बाद अर्जित चक्रवृद्धि ब्याज (वार्षिक देय) और साधारण ब्याज के बीच का अंतर ज्ञात करें जब Rs. 4800 को 15% प्रतिवर्ष पर निवेश किया जाता है|

A) Rs. 128

B) Rs. 98

C) Rs. 116

D) Rs. 108

प्रश्न 5: Rs. 5,000 को 2 वर्षों के लिए 9% प्रति वर्ष चक्रवृद्धि ब्याज (वार्षिक देय) पर निवेश किया जाता है। अर्जित ब्याज ज्ञात कीजिए।

A) Rs. 490.50

B) Rs. 880.50

C) Rs. 1,050

D) Rs. 940.50

प्रश्न 6: 16% प्रति वर्ष चक्रवृद्धि ब्याज (वार्षिक देय) पर दो वर्षों के लिए निवेश करने पर Rs. 1500 पर अर्जित चक्रवृद्धि ब्याज ज्ञात करें।

A) Rs. 418.50

B) Rs. 500.42

C) Rs. 400.35

D) Rs. 518.40

प्रश्न 7: Rs. 20000 राशि पर 15% प्रति वर्ष की दर से 2(2/3) वर्षों के लिए चक्रवृद्धि ब्याज (वार्षिक देय) है:

A) Rs. 9098

B) Rs. 8896

C) Rs. 9000

D) Rs. 9095

प्रश्न 8: Rs. 2400 की राशि दो वर्ष में चक्रवृद्धि ब्याज (वार्षिक देय) की निश्चित दर (प्रति वर्ष) पर Rs. 2904 हो जाती है। ब्याज दर ज्ञात करें।

A) 11% प्रतिवर्ष

B) 10% प्रतिवर्ष

C) 12% प्रतिवर्ष

D) 15% प्रतिवर्ष

प्रश्न 9: 12% प्रति वर्ष चक्रवृद्धि ब्याज (वार्षिक देय) पर निवेश की गई एक निश्चित राशि 2 वर्षों में संचयित होकर Rs. 3136 हो जाती है। निवेश की गई राशि का 140% क्या है?

A) Rs. 3500

B) Rs. 2800

C) Rs. 3200

D) Rs. 4000

प्रश्न 10: एक राशि को जब 8.4% प्रतिवर्ष साधारण ब्याज पर 4.5 साल के लिए निवेश किया जाता है तो वह संचयित होकर Rs. 27,560 हो जाती है। अर्जित ब्याज ज्ञात कीजिए यदि समान राशि को 8% प्रतिवर्ष के साधारण ब्याज पर 2.5 साल के लिए निवेश किया जाता है।

A) Rs. 5,000

B) Rs. 4,000

C) Rs. 6,000

D) Rs. 10,000

ANSWER KEYS and SOLUTIONS:

Simple & Compound Interest Solutions with Explanation

Solution 1: 2)

Let the sum invested be Rs. ‘x’

Let the number of years of investment be ‘n’ years

According to the question,

(x × 12.5 × n)/100 = 5x – x

Or, 0.125n = 4

Or, n = 32

Therefore, time of investment = 32 years

Hence, option b.

Solution 2: 3)

Value of the land three years hence = 250000 X (1.08)³ = Rs. 3,14,928

Hence, option c.

Solution 3: 2)

Compound interest = Amount – Sum invested

Amount = Sum X {1 + (R/100)}^{time period}

Let the sum invested be Rs. ‘P’

ATQ;

252810 = P X (1.06)²

Or, P = 2,25,000

So, sum invested = Rs. 2,25,000

Hence, option b.

Solution 4: 4)

Compound interest earned at the end of 2 years = [(1.15)² – 1] × 4800 = Rs. 1548

Simple interest received at the end of two years = 0.15 × 2 × 4800 = Rs. 1440

Desired difference = 1548 – 1440 = Rs. 108

Hence, option d.

Solution 5: 4)

Required interest earned = 5000 × {1 + (9/100)²} – 5000 = 5940.5 – 5000 = Rs. 940.50

Hence, option d.

Solution 6: 4)

Required interest earned = {1500 × 1.16 × 1.16) – 1500 = 2018.4 – 1500 = Rs. 518.40

Hence, option d.

Solution 7: 4)

Rate of interest for (2/3) years = (2/3) × 15 = 10%

Therefore, amount received = 20000(1 + 15/100)² × (1 + 10/100) = Rs. 29095

Therefore, interest on Rs. 20000 = 29095 – 20000 = Rs. 9095

Hence, option d.

Solution 8: 2)

Let the rate of interest be r% p.a.

Amount = P {1 + (r/100)}^t, where P = sum invested, t = time of investment

Or, 2904 = 2400{1 + (r/100)} ²

Or, (2904/2400) = {1 + (r/100)}²

Or, 1.21 = {1 + (r/100)}²

Or, √1.21 = 1 + (r/100)

Or, (r/100) = 1.1 – 1

Or, r = 0.1 X 100 = 10

So, the rate of interest = 10% p.a.

Hence, option b.

Solution 9: 1)

Let the amount invested = Rs. Y

Then, according to the question, Y X {1 + (12/100)}² = 3136

Or, (784Y/625) = 3136

So, Y = (3136 ÷ 784) X 625 = 2500

And so, 140% of 2500 = Rs. 3500

Hence, option a.

Solution 10: 2)

Let the sum invested be Rs. ‘P’.

ATQ;

27560 – P = (P X 8.4 X 4.5) ÷ 100

Or, 27560 = P + 0.378P

Or, 27560 = 1.378P

So, P = 20000

So, interest earned = (20000 X 8 X 2.5) ÷ 100 = Rs. 4,000

Hence, option b.

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