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Compound Interest Questions Set 1 | for SSC CGL | CHSL | IBPS | RRB

compound interest questions set 1 for ssc cgl chsl ibps rrb

Compound Interest Questions Set 1 | for SSC CGL | SSC CHSL | IBPS | RRB

There are following Compound Interest Questions Set 1 for SSC CGL, SSC CHSL, IBPS Bank, RRB. The answer with the solutions of these simple interest questions is at last.

Compound Interest Questions Set 1 for SSC CGL : Question No 1

At what percent per annum will 3000/- amounts to 3993/- in 3 years if the interest is compounded
annually?

Options:

A. 9%

B. 10%

C. 11%

D. 13%

Compound Interest Questions Set 1 for SSC CHSL : Question No 2

The compound interest on 10,000 in 2 years at 4% per annum, the interest being compounded half-yearly, is :

Options:

A. Rs. 680.80

B. Rs. 824.32

C. Rs. 912.86

D. Rs. 828.82

Compound Interest Questions Set 1 for IBPS Bank : Question No 3

In how many years will 2,000 amounts to 2,420 at 10% per annum compound interest?

Options:

A. 3 Years

B. 2 1/2 year

C. 2 Year

D. 1 1/2 Year

Compound Interest Questions Set 1 for RRB : Question No 4

In what time will 1000 becomes 1331 at 10% per annum compounded annually ?

Options:

A. 3 Years

B. 2 1/2 year

C. 2 Year

D. 3 1/2 Year

Compound Interest Questions Set 1 for SSC CGL : Question No 5

The principal, which will amount to 270.40 in 2 years at the rate of 4% per annum compound interest, is

Options:

A. Rs. 200

B. Rs. 225

C. Rs. 250

D. Rs. 220

Compound Interest Questions Set 1 for SSC CHSL : Question No 5

The principal, which will amount to 270.40 in 2 years at the rate of 4% per annum compound interest, is

Options:

A. Rs. 200

B. Rs. 225

C. Rs. 250

D. Rs. 220

Compound Interest Questions Set 1 for IBPS Bank : Question No 6

A sum of money on compound interest amounts to Rs. 10648 in 3 years and Rs. 9680 in 2 years. The rate of interest per annum is

Options:

A. 5%

B. 10%

C. 15%

D. 20%

Compound Interest Questions Set 1 for RRB : Question No 6

A sum of money on compound interest amounts to Rs. 10648 in 3 years and Rs. 9680 in 2 years. The rate of interest per annum is

Options:

A. 5%

B. 10%

C. 15%

D. 20%

Compound Interest Questions Set 1 for SSC CGL : Question No 7

At what rate per cent per annum will Rs. 2304 amount to Rs. 2500 in 2 years at compound interest ?

Options:

A. 4 1/2%

B. 4 1/5%

C. 4 1/6%

D. 4 1/3%

Compound Interest Questions Set 1 for SSC CHSL : Question No 8

A sum becomes Rs. 1,352 in 2 years at 4% per annum compound interest. The sum is

Options:

A. Rs. 1225

B. Rs. 1270

C. Rs. 1245

D. Rs. 1250

Compound Interest Questions Set 1 for IBPS Bank : Question No 9

The compound interest on Rs. 16,000 for 9 months at 20% per annum, interest being compounded
quarterly, is

Options:

A. Rs. 2520

B. Rs. 2524

C. Rs. 2522

D. Rs. 2518

Compound Interest Questions Set 1 for RRB : Question No 10

If the rate of interest be 4% per annum for first year, 5% per annum for second year and 6% per annum for third year, then the compound interest of Rs. 10,000 for 3 years will be

Options:

A. Rs. 1600

B. Rs. 1625.80

C. Rs. 1575.20

D. Rs. 2000

Compound Interest Questions Set 1 for SSC CGL : Question No 11

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

Options:

A. Rs. 142.40

B. Rs. 140.40

C. Rs. 141.40

D. Rs. 143.40

Compound Interest Questions Set 1 for SSC CHSL : Question No 12

At what rate per annum will Rs. 32000 yield a compound interest of Rs. 5044 in 9 months interest being compounded quarterly ?

Options:

A. 20%

B. 32%

C. 50%

D. 80%

Compound Interest Questions Set 1 for IBPS Bank : Question No 13

The compound interest on 8,000 at 15% per annum for 2 years 4 months, compounded annually is:

Options:

A. Rs. 2980

B. Rs. 3091

C. Rs. 3109

D. Rs. 3100

Compound Interest Questions Set 1 for RRB : Question No 14

In what time will Rs. 10,000 amount to 13310 at 20% per annum compounded half yearly

Options:

A. 1 1/2 years

B. 2 years

C. 2 1/2 years

D. 3 years

Compound Interest Questions Set 1 for SSC CGL : Question No 15

A certain sum of money yields Rs. 1261 as compound interest for 3 years at 5% per annum. The sum is

Options:

A. Rs. 9000

B. Rs. 8400

C. Rs. 7500

D. Rs. 8000

Compound Interest Questions Set 1 for SSC CHSL : Question No 16

A certain sum, invested at 4% per annum compound interest, compounded half yearly, amounts to Rs. 7,803 at the end of one year. The sum is

Options:

A. Rs. 7000

B. Rs. 7200

C. Rs. 7500

D. Rs. 7700

Compound Interest Questions Set 1 for IBPS Bank : Question No 17

A certain sum amounts to Rs. 5,832 in 2 years at 8% per annum compound interest, the sum is

Options:

A. Rs. 5000

B. Rs. 5200

C. Rs. 5280

D. Rs. 5400

Compound Interest Questions Set 1 for RRB : Question No 18

The compound interest on Rs. 6,000 at 10% per annum for 1 1/2 years, when the interest being
compounded annually, is

Options:

A. Rs. 910

B. Rs. 870

C. Rs. 930

D. Rs. 900

Compound Interest Questions Set 1 for SSC CGL : Question No 19

In what time 8,000 will amount to 9,261 at 10% per annum compound interest, when the interest
is compounded half yearly ?

Options:

A. 3 1/2 years

B. 1 1/2 years

C. 2 1/2 years

D. 2 years

Compound Interest Question Set 1 for SSC CHSL : Question No 20

At what rate per cent per annum will a sum of Rs. 1,000 amounts to Rs. 1,102.50 in 2 years at compound interest

Options:

A. 5%

B. 5.5%

C. 6%

D. 6.5%

Compound Interest Questions Set 1 Solutions

Answer 1 : B

P = 3000, A = 3993, n = 3 years

A = P(1 + R/100)^n

3993 = 3000(1 + R/100)^3

(1 + R/100)^3 = (3993/3000)

(1 + R/100)^3 = 1331/1000

(1 + R/100)^3 = (11/10)^3

1 + R/100 = 11/10

R = 10% 

Answer 2 : B

P = 10000, R = 4 / 2 = 2%, n = 2 x 2 = 4 years

A = 10000(1 + 2/100)^4 = 10000(51/50)^4 = 10824.3216.

So, interest is CI = 10824.3216 – 10000 = Rs. 824.32

Answer 3 : C

P = 2000, A = 2420, R = 10%, 

A = P(1 + R/100)^n

2420 = 2000(1 + 10/100)^n

(2420/2000) = (11/10)^n

121/100 = (11/10)^n

(11/10)^2 = (11/10)^n

n = 2 Years

Answer 4 : A

P = 1000, A = 1331, R = 10%, 

A = P(1 + R/100)^n

1331 = 1000(1 + 10/100)^n

(1331/1000) = (11/10)^n

(11/10)^3 = (11/10)^n

n = 3 Years

Answer 5 : C

P = P, A = 270.40, R = 4%, n = 2 years 

A = P(1 + R/100)^n

270.40 = P(1 + 4/100)^2

270.40 = P(1.04)^2

P = 270.40 / (1.04)^2 = Rs. 250 

Answer 6 : B

P = P, A = 9680, R = R%, n = 2 years 

P(1 + R/100)^2 = 9680   …(1)

P(1 + R/100)^3 = 10648 …(2)

On dividing (ii) by (i), we get

(1 + R/100) = 10648/9680

R/100 = (10684/9680) – 1

R/100 = 968/9680 = 1/10

R = 10%

Answer 7 : C

P = 2304, A = 2500, R = R%, n = 2 years 

2304(1 + R/100)^2 = 2500

(1 + R/100)^2 = 2500 / 2304

(1 + R/100)^2 = (50/48)^2

(1 + R/100)^2 = (25/24)^2

1 + R/100 = 25/24

R/100 = 25/24 – 1

R/100 = 1/24

R = 100/24 = 25/6 = 4 1/6%

Answer 8 : D

P = P, A = 1352, R = 4%, n = 2 years 

P(1 + 4/100)^2 = 1352

P(1 + 1/25)^2 = 1352

P(26/25)^2 = 1352

P x 676/625 = 1352

P = (1352 x 625) / 676

P = Rs. 1250

Answer 9 : C

P = 16000, A = A, R = 20 / 4 = 5%, n = 9 months = (9 / 12) x 4 = 3 years 

A = 16000(1 + 5/100)^3

A = 16000(1 + 1/20)^3

A = 16000(21/200\)^3

A = 16000 x 9261 / 8000

A = 18522

CI = A – P = 18522 – 16000 = Rs. 2522

Answer 10 : C

P = 10000, A = A, R1 = 4%, R2 = 5%, R3 = 6%

A = 10000(1 + 4/100)(1 + 5/100)(1 + 6/100)

A = 10000(26/25)(21/20)(53/50) = 11575.20

CI = A – P = 11575.20 – 10000 = Rs. 1575.20

Answer 11 : A

P = 2000, A = A, R1 = 4%, R2 = 3%

A = 2000(1 + 4/100)(1 + 3/100)

A = 2000(1.04)(1.03) = 2142.40

CI = A – P = 2142.40 – 2000 = Rs. 142.40

Answer 12 : A

P = 32000, CI = 5044, R = R/4%, n = 9 months = (9 / 12) x 4 = 3 years 

5044 = 32000[(1 + R/400)^3 – 1]

1261 / 8000 = [(1 + R/400)^3 – 1]

(1 + R/400)^3 = (1261/8000) + 1

(1 + R/400)^3 = 9261/8000

(1 + R/400)^3 = (21/20)^3

1 + R/400 = 21/20

R/400 = 1/20

R = 20%

Answer 13 : C

P = 8000, CI = ?, R = 15%, n = 2 Years 4 months = (2 + 4/12) = 2 1/3 years 

CI = 8000[(1 + 15/100)^(2 1/3) – 1]

CI = 8000[(1 + 3/20)^2 x (1 + 3/(20 x 3))) – 1]

CI = 8000[(23/20)^2 x (21/20) – 1]

CI = (8000 x 23/20 x 21/20) – 8000

CI = 11109 – 8000 = Rs. 3109 

Answer 14 : A

P = 10000, A = 13310, R = 20 / 2 = 10%, n = 2t years

A = P(1 + R/100)^(2t)

13310 = 10000(1 + 10/100)^(2t)

(1331/1000) = (11/10)^(2t)

(11/10)^3 = (11/10)^(2t)

2t = 3 Years

t = 3/2 years = 1 1/2 years

Answer 15 : D

P = ?, CI = 1261, R = 5%, n = 3 Years

1261 = P[(1 + 5/100)^3 – 1]

1261 = P[(1 + 1/20)^3 – 1]

1261 = P[(21/20)^3 – 1]

1261 = P[(9261/8000) – 1]

1261 = P(1261/8000)

P = Rs. 8000

Answer 16 : C

P = ?, A = 7803, R = 4/2 = 2%, n = 1×2 = 2 years 

P(1 + 2/100)^2 = 7803

P(1 + 1/50)^2 = 7803

P(51/50)^2 = 7803

P x 51/50 x 51/50 = 7803

P = 7803 x 50/51 x 50/51

P = Rs. 7500

Answer 17 : A

P = ?, A = 5832, R = 8%, n = 2 years 

P(1 + 8/100)^2 = 5832

P(1 + 2/25)^2 = 5832

P(27/25)^2 = 5832

P x 27/25 x 27/25 = 5832

P = 5832 x 25/27 x 25/27

P = Rs. 5000

Answer 18 : C

P = 6000, CI = ?, R = 10%, n = 1 Years 6 months = 1 1/2 years 

CI = 6000[(1 + 10/100)^(1 1/2) – 1]

CI = 6000[(1 + 1/10)^1 x (1 + 1/(10 x 2))) – 1]

CI = 6000[(11/10)^1 x (21/20) – 1]

CI = (6000 x 11/10 x 21/20) – 6000

CI = 6930 – 6000 = Rs. 930 

Answer 19 : B

P = 8000, A = 9261, R = 10 / 2 = 5%, n = 2t years

A = P(1 + R/100)^(2t)

9261 = 8000(1 + 5/100)^(2t)

(9261/8000) = (21/20)^(2t)

(21/20)^3 = (21/20)^(2t)

2t = 3 Years

t = 3/2 years = 1 1/2 years

Answer 20 : A

P = 1102.5, A = 1000, R = ?, n = 2 years 

1000(1 + R/100)^2 = 1102.5

(1 + R/100)^2 = 1102.5 / 1000

(1 + R/100)^2 = (11025/10000)

(1 + R/100)^2 = (105/100)^2

1 + R/100 = 105/100

R/100 = 105/100 – 1

R/100 = 5/100

R = 5%

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