Simple Interest and Compound Interest Questions for SSC Exams - 1
Question: 1
The simple interest at x% for x years will be Rs. x on a sum of
(A) Rs x
(B) Rs. $$({100}/{x})$$
(C) Rs 100 x
(D) Rs. $$({100}/{x^2})$$
Ans: B
Sum = $$({100 × S.I.} / {R × T})$$ = Rs. $$({100 × x} / {x × x})$$ = Rs. $$({100} / {x})$$.
Question: 2
A certain sum of money at simple interest amounts to Rs.1012 in $$2{1}/{2}$$ years and to Rs.1067.20 in 4 years. The rate of interest per annum is
(A) 2.5%
(B) 3.5%
(C) 3.8%
(D) 4%
Ans: D
S.I. for $$1{1}/{2}$$years = Rs. (1067.20 – 1012) = Rs. 55.20.
S.I. for $$2{1}/{2}$$years = Rs. $$(55.20 × {2}/{3} × {5}/{2})$$ = Rs. 92.
∴ Principal = Rs. (1012 – 92) = Rs. 920.
Hence, rate = $$({100 × 92 × 2} / {920 × 5})$$ = 4%.
Question: 3
The interest earned on Rs.15000 in 3 years at simple interest is Rs.5400. Find the rate of interest per annum.
(A) 11.5%
(B) 11.8%
(C) 12%
(D) 14%
Ans: C
Rate = $${S.I. × 100} / {Principal × Time}$$ = $${5400 × 100} / {15000 × 3}$$ = 12% per annum.
Question: 4
If simple interest on Rs.600 for 14 years and on Rs.600 for 2 years combined together is Rs.180, find the rate of interest.
(A) 4%
(B) 5%
(C) 6%
(D) 7%
Ans: B
Let the rate of be R% p.a.
Then, $$({600 × R × 4} / {100})$$ + $$({600 × R × 2} / {100})$$ = 180
⇒ 2400R + 1200R = 18000 ⇒ 3600R = 18000
⇒ R = 5%.
Question: 5
At what rate percent of simple interest will a sum of money double itself in 12 years?
(A) $$8{1}/{2}$$%
(B) $$8{1}/{3}$$%
(C) $$8{1}/{3}$$%
(D) $$9{1}/{2}$$%
Ans: B
Let sum = Rs. x.
Then, S.I. = Rs. x.
∴ Rate = $$({100 × S.I.} / {P × T})$$ = $$({100 × x} / {x × 12})$$% = $${25}/{3}$$% = $$8{1}/{3}$$%.
- 100+ Simple Interest Questions and Answers for Bank Exams
- 100+ Simple Interest Questions for SBI, IBPS PO, SO, Clerk
- 100+ Simple Interest and Compound Interest TNPSC Questions
- Simple Interest and Compound Interest Questions for SSC Exams
- 100+ Simple Interest Questions and Answers for Competitive Exams
- Top 100+ Simple and Compound Interest MCQ with Answers Pdf
Gross Domestic Product and Its Growth Class 10 Questions Pdf More
Industrial Cluster in Tamil Nadu TNPSC Questions Pdf More
Food and Security TNPSC Questions Pdf More
Economics Food Security and Nutrition Class 10 Questions Pdf More
Class 10th Social Indian Constitution Pdf More
Economics GK Quiz Questions and Answers More
Samacheer Kalvi 7th Social Geography Landforms Questions More
TRB Polytechnic Model Question Paper for Economics Pdf More
1000+ Oromia International Bank Exam Questions and Answers Pdf More
7000+ Banking Awareness 2024 - 2025 Pdf More