# Simple Interest and Compound Interest Previous Year Questions asked in SSC CGL Mains(2018)

Simple Interest and Compound Interest is important topic in SSC CGL exam. SSC aspirants can expect 3 questions in each shift from this topic in Mains exam.Previous year simple interest and compound interest questions help you in your preparations. Total 9 Simple Interest and Compound Interest questions asked in SSC CGL Mains 2018 exam.Practice these questions over and over and Improve your efficiency.

(Note- Options Marked in Bold is correct ans.R is used as rate of interest and P is used as principal)

**Ques.1.**A person invested one- fourth of the sum of ₹ 25,000 at a certain rate of simple interest and the rest of at 4% p. a higher rate. If the total interest received for 2 years is ₹ 4,125 what is the rate at which the second sum was invested?

Options

A) 9.5%

**B) 9.25%**

C) 5.25%

D) 7.5%

**Solution.** 1/4 of 25000 = 6250

remaining = 18750

let Rate of interest= x% on 6250

then,Rate of interest on remaining =(x+4) %

4125= [6250×x/100 + (18750) × (x+4) /100] 2

x=5.25%

x+4= 9.25% Ans.

**Ques. 2.** A certain loan was returned in two equal half yearly instalments each of ₹ 6,750.If the rate of interest was 8% p.a, compounded yearly. How much was the interest paid on the loan?

Options

A) ₹750

B) ₹810

C) ₹790

**D) ₹770**

**Solution.** R=4% = 1/25

P I

(25 26) ×26

25^{2} 26^{2}

as installment are equal so we multiplied first installment by 26

650 676

625 676

1275 1352(Difference Between installment = 77

6760×77/676 = 770 Ans

**Ques.3.** A sum of ₹ 10,500 amounts to ₹ 13825 in 3 4/5 years at a certain rate percent per annum simple interest. What will be the simple interest on the same sum for 5 years at double the earlier rate?

Options

A) ₹ 8470

B) ₹8750

C) ₹ 8670

D) ₹8560

**Solution.**R = SI×100/P×T

=3325×100×5/10500×19 =8 1/3

2R =16 2/3

SI = (10500×1×5)/6

=8750 Ans.

**Ques.4.** A sum lent out at simple interest amounts to ₹6076 in 1 year and ₹ 7504 in 4 years. The sum and the rate of interest p.a are respectively:

Options

A)₹ 5,600 and 9%

B) ₹5,600 and 8.5%

C)₹ 5,400 and 9%

D) ₹5, 400 and 10%

**Solution.** S. I for 1 year= 7504-6076/3 =1428/3 = 476

P+476 =6076

P=5600

R=476/5600 %

R=8.5%

P= 5600 R= 8.5℅ Ans.

**Ques.5.** A loan has to be returned in two equal yearly installments each of ₹ 44100. If the rate of interest is 5% p. a compounded annually, the total interest paid is:

Options

A) ₹5840

B) ₹6000

**C) ₹6200**

D) ₹6280

**Solution.** 5% = 1/20

P I

(20 21) ×21

20^{2} 21^{2}

As equal installment are there so we multiplied 1st year installments by 21

420 441

400 441

820 882

Interest = 882-820 = 62

= 44100×62/441

= 6200 Ans

**Ques.6.** A sum amounts to ₹ 14,395.20 at 9.25% p.a simple interest in 5.4years. What will be the simple interest on the same sum at 8.6℅ p.a. in 4.5 years?

Options

A) ₹3, 715.20

B) ₹3, 627

C) ₹3797.76

D) ₹ 3,672

**Solution.** Effective rate in 5.4 years = 9.25×5.4= 49.95

14395.2=P(100+49.95/100)

P=14395.20×100/149.95

S.i = 14395.20×100×8.6×4.5/149.95×100

S.I=3715.20 Ans

**Ques.7.** A sum of ₹18000 is lent at 10% p.a, compound interest, compounded annually. what is the difference between the compound interest for 3rd year and 4th year?

Options

A) ₹220.60

B) ₹217.80

C) ₹221.80

D) ₹215.40

**Solution.**

Rate of 3rd year = 33.1%-21%=12.1

Rate of 4th year = 46.41% -33% =13.31%

Difference of 4th year & 3rd CI =1.21%

= 18000× 1.21/100 = ₹217.8

**Ques.8.** What will be the Compound interest on a sum of ₹ 31,250 for 2 years at 12% p.a. If the interest is compounded 8 monthly?

Options

A) ₹8106

**B) ₹8116**

C) ₹8016

D) ₹8156

**Solution.**Rate for 8 Months =(12×8)/12 =8%

Time =3 Successive Rate of 8% for 3 Years=25.97%

CI = 31250 × 25.97/100 = ₹ 8116 Ans.

**Ques.9**. A sum of ₹5000 is divided into two parts such that the simple interest on the first part for 4 1/5 years at 6 2/3% p. a is double the simple interest on the second part for 2 3/4 years at 4%.What is the difference between the two parts?

Options

A) ₹680

**B) ₹600**

C) ₹560

D) ₹620

**Solution.** Let parts are A & B

A× 21/5 × 20/3 = 2 × B × 4 × 11/4

= A/B = 11/14

Difference = 3×5000/25 =₹600 Ans.

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