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%