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SSC CGL level Question Set 50 on Simple Interest and Compound Interest 1

Submitted by Atanu Chaudhuri on Thu, 02/03/2017 - 13:10

Simple interest and compound interest questions for SSC CGL Set 50

Simple interest and Compound interest questions for SSC CGL Set 50 with answers

Solve 10 Simple interest and compound interest questions for SSC CGL Set 50 in 12 minutes. Verify correctness from answers. Learn to solve from solutions.

Answers and link to the solutions are at the end.

10 Simple interest and Compound interest problems for SSC CGL Set 50 - time to solve 12 mins

Problem 1.

A man borrowed Rs.16000 from two persons. He paid 6% interest per annum to one and 10% interest per annum to the other. In the first year he paid a total interest of Rs.1120. How much did he borrow at each rate?

  1. Rs.12500 : Rs.3500
  2. Rs.11000 : Rs.5000
  3. Rs.12000 : Rs.4000
  4. Rs.10000 : Rs.6000

Problem 2.

A certain sum of money amounts to Rs.1680 in 3 years and to Rs.1800 in 5 years. Find the sum and rate of simple interest.

  1. Rs.1200 : 4%
  2. Rs.1500 : 4%
  3. Rs.1800 : 5%
  4. Rs.1600 : 5%

Problem 3.

A sum of money at compound interest amounts to Rs.650 at the end of the first year and Rs.676 at the end of the second year. The sum of money is,

  1. Rs.1300
  2. Rs.650
  3. Rs.1250
  4. Rs.625

Problem 4.

A sum of money placed at compound interest doubles itself in 5 years. In how many years it would be 8 times of itself at the same rate of interest?

  1. 10 years
  2. 15 years
  3. 20 years
  4. 7 years

Problem 5.

The compound interest on Rs.2000 in 2 years, if the rate of interest is 4% per annum for the first year and 3% per annum for the second year, will be,

  1. Rs.143.40
  2. Rs.141.40
  3. Rs.140.40
  4. Rs.142.40

Problem 6.

An amount of money at compound interest grows up to Rs.3840 in 4 years and up to Rs.3936 in 5 years. Find the rate of interest.

  1. 2%
  2. 2.05%
  3. 3.5%
  4. 2.5%

Problem 7.

The time in which Rs.80000 amounts to Rs.92610 at 10% per annum compound interest, interest being compounded semi-annually, is

  1. 1.5 years
  2. 2 years
  3. 3 years
  4. 2.5 years

Problem 8.

A man borrows Rs.2550 to be paid back with compound interest at the rate of 4% per annum by the end of 2 years in two equal yearly installments. How much will each installment be?

  1. Rs.1352
  2. Rs.1283
  3. Rs.1377
  4. Rs.1275

Problem 9.

The difference between the compound interest and the simple interest at the same rate of interest, for the amount Rs.5000 in 2 years, is Rs.32. The rate of interest is,

  1. 5%
  2. 10%
  3. 12%
  4. 8%

Problem 10.

If the compound interest on a sum for 2 years at 12.5% per annum is Rs.510, the simple interest for the same sum at the same rate for the same period of time is,

  1. Rs.480
  2. Rs.450
  3. Rs.400
  4. Rs.460

Learn to solve quickly from the paired solution set at,

SSC CGL level Solution Set 50 on Simple interest and Compound interest 1

Answers to the Simple interest and compound interest questions for SSC CGL Set 50

Problem 1. Answer: Option c: Rs.12000 : Rs.4000

Problem 2. Answer: Option b : Rs.1500 : 4%.

Problem 3. Answer: Option d: Rs.625.

Problem 4. Answer: Option b: 15 years.

Problem 5. Answer: Option d: Rs.142.40.

Problem 6. Answer: Option d : 2.5%.

Problem 7. Answer: Option a: 1.5 years.

Problem 8. Answer: Option a: Rs.1352.

Problem 9. Answer: Option d: 8%.

Problem 10. Answer: Option a: Rs.480.

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