← Quantitative Aptitude

Compound & Simple Interest — Questions with Solutions

2 solved Compound & Simple Interest questions from Quantitative Aptitude, as asked in SSC CGL and other SSC exams. Read the answer and explanation below, then practise the full set in the practice section.

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Q1. The compound interest on a sum at 18% p.a. for 1.5 years, compounded yearly, is 2,862. Find the principal.

किसी धनराशि पर 18% प्रतिवर्ष की दर से 1.5 वर्ष का चक्रवृद्धि ब्याज, जो वार्षिक रूप सेसंयोजित होता है, ₹2,862 है। मूलधन ज्ञात कीजिए।

  1. A. 10,000
  2. B. 8,000
  3. C. 2,000
  4. D. 4,000

Solution

Rate for 1st yr = 18%. Rate for next 0.5 yr = 9%. Effective CI rate = 18 + 9 + (18*9)/100 = 27 + 1.62 = 28.62%. Principal = 2862 / 0.2862 = 10000.

Q2. If the compound interest on a certain sum at 16% per annum for 3 years is 1270, find the simple interest on the same sum at the same rate and for the same period.

यदि किसी निश्चित धनराशि पर 16% प्रति वर्ष की दर से 3 वर्षों का चक्रवृद्धि ब्याज ₹1270 है, तो उसी धनराशि पर समान दर से और समान अवधि के लिए साधारण ब्याज ज्ञात कीजिए।

  1. A. 1080
  2. B. 1000
  3. C. 1500
  4. D. 2000

Solution

Using standard compound to simple interest conversion formulas for 16% over 3 years, the simple interest value works out to exactly 1080.