SSC CGL Preparation – Day 11

MCQ: Simple & Compound Interest

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Q1. What is the simple interest on ₹4000 at 5% per annum for 3 years?

A) ₹600
B) ₹550
C) ₹650
D) ₹700

✅ Answer: A
Solution:
SI = (P × R × T)/100 = (4000 × 5 × 3)/100 = ₹600

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Q2. A sum of ₹8000 is lent at 10% per annum compound interest for 2 years. Find the compound interest.

A) ₹1680
B) ₹1760
C) ₹1640
D) ₹1600

✅ Answer: B
Solution:
A = 8000 × (1 + 10/100)² = 8000 × 1.21 = ₹9680
CI = 9680 − 8000 = ₹1680

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Q3. The simple interest on ₹1500 at 4% per annum for 4 years is:

A) ₹240
B) ₹250
C) ₹260
D) ₹270

✅ Answer: A
Solution:
SI = (1500 × 4 × 4)/100 = ₹240

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Q4. In how many years will ₹2000 become ₹2800 at a rate of 10% per annum simple interest?

A) 3 years
B) 4 years
C) 5 years
D) 6 years

✅ Answer: C
Solution:
SI = 2800 − 2000 = ₹800
SI = (2000 × R × T)/100 → 800 = (2000 × 10 × T)/100 → T = 4

(Wait — this is a miscalculation; let’s correct it)
800 = (2000 × 10 × T)/100 → 800 = 200 × T → T = 4 years

✅ Correct Answer: B

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Q5. What will be the compound interest on ₹10,000 at 8% p.a. for 2 years?

A) ₹1664
B) ₹1600
C) ₹1720
D) ₹1800

✅ Answer: A
Solution:
A = 10000 × (1 + 8/100)² = 10000 × 1.1664 = ₹11664
CI = 11664 − 10000 = ₹1664

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Q6. Find the difference between SI and CI on ₹5000 for 2 years at 5% per annum.

A) ₹12.50
B) ₹15
C) ₹13.25
D) ₹10

✅ Answer: A
Solution:
Difference = P × (R/100)² = 5000 × (5/100)² = 5000 × 0.0025 = ₹12.50

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Q7. If a sum becomes ₹1210 in 2 years at 10% compound interest, what is the principal?

A) ₹1000
B) ₹1100
C) ₹1050
D) ₹1010

✅ Answer: A
Solution:
A = P(1 + R/100)² → 1210 = P × 1.21 → P = 1210 / 1.21 = ₹1000

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Q8. A man lent ₹5000 at 6% SI. What amount will he receive after 4 years?

A) ₹6200
B) ₹620
C) ₹6200
D) ₹6000

✅ Answer: A
Solution:
SI = (5000 × 6 × 4)/100 = ₹1200
Total = 5000 + 1200 = ₹6200

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Q9. A sum of ₹6400 is invested at 5% compound interest compounded annually. What is the amount after 2 years?

A) ₹7056
B) ₹7000
C) ₹7080
D) ₹7150

✅ Answer: A
Solution:
A = 6400 × (1 + 5/100)² = 6400 × 1.1025 = ₹7056

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Q10. The CI on a certain sum for 2 years is ₹1025 and the rate is 10%. Find the principal.

A) ₹5000
B) ₹4500
C) ₹4800
D) ₹4700

✅ Answer: A
Solution:
A = P × (1.1)² = P × 1.21
CI = A − P = 1.21P − P = 0.21P = 1025 → P = 1025 / 0.21 = ₹4880.95 ≈ ₹4881

✅ Revised Answer: Closest option – Not listed accurately
(We’ll assume a typo or rounding — answer closest to actual principal is ₹4881)