SSC CHSL Simple and Compound Interest Questions with Solutions for Competitive Exams. Question answer practice set from Previous year question paper for the self study of upcoming exams.

**EXAM : SSC CHSL (AUGUST 2021 ALL SHIFT) Medium : ENGLISH**

## Simple and Compound Interest Questions

**Q.1:** Varun and Madhur invested ₹25,000 each in different schemes. Varun earned simple interest at 11% per annum, whereas Madhur earned compound interest at 10% per annum compounded annually. Who received more interest after 2 years and how much?

(A) Varun, ₹250

(B) Madhur, ₹250

(C) Varun, ₹500

(D) Madhur, ₹302.50

###### Show Answer

Varun’s simple interest ₹

Madhur’s compound interest

Profit of varun =5500 – 5250 = 250₹

**Q.2:** If the difference between the compound interest compounded annually and the simple interest on a certain sum of money for three years at 10% per annum ₹279, then the sum ( in ₹ ) is:

(A) 10,000

(B) 9,000

(C) 8,000

(D) 7,500

###### Show Answer

Of 3 years

P = 9000₹

**Q.3:** What will be the compound interest ( in ₹ ) on a sum of ₹7,200 for 18 months at a rate of 20% per annum, if the interest is compounded half-yearly (nearest to an integer) ?

(A) 2,833

(B) 2,383

(C) 2,338

(D) 3,238

###### Show Answer

P = 7200

R% = 20% (Annual)

R% = 10% (Half yearly)

T = 18 months = 3 half yearly

total C.I. = 2383.2 = 2383₹

**Q.4:** A sum fo money lent at simple interest amounts to ₹9,920 after 2 years and to ₹12,800 after 5 years. Find the rate of interest per annum.

(A) 18%

(B) 9.68%

(C) 12%

(D) 6.57%

###### Show Answer

2 year compound = 9920

5 year compound = 12800

3 year interest = 2880₹

1 year simple interest

1 year S.I. = 960₹

2 year S.I. = 1920

Principal = 9920 – 1920 = 8000

Rate (R)

%

**Q.5:** The 12% interest earned on a sum of ₹2,60,000 is to be used for awarding 24 scholarship of equal value every year in a school. What is the value ( in ₹) of each scholarship?

(A) 1,250

(B) 1,200

(C) 1,150

(D) 1,300

###### Show Answer

Simple interest

Value of each scholarship ₹

**Q.6:** If the simple interest on a certain sum of money borrowed for 4 years at 9.5% per annum exceeds the simple interest on the same sum for 3 years 12.5% per annum by ₹225, then the sum borrowed is:

(A) ₹35,000

(B) ₹45,000

(C) ₹42,000

(D) ₹48,000

###### Show Answer

R% x T = S.I.

9.5% x 4 = 38%

12.5% x 3 = 37.5%

Difference in interest = 38% – 37.5%

0.5% = 225

1% =

**Q.7:** The compound interest on a certain sum of money for 3 years, compounded annually, at a rate of interest of 10% per annum is ₹1,324. The sum is:

(A) ₹4,000

(B) ₹5,500

(C) ₹5,000

(D) ₹4,500

###### Show Answer

R% = 10% =

10 : 11

10 : 11

10 : 11

1000 : 1331

(C.I.) = 1331 – 1000 = 331

A.T.Q. 331 = 1324

1 = 4

Principal (Amount) = 4 x 1000 = 4000

Thanks for attempt SSC CHSL Simple and Compound Interest Questions for competitive exams.

**Simple and Compound Interest Questions of SSC CHSL in Hindi – SSC STUDY**

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