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 = $$({100 × S.I.} / {P × T})$$ = $$({100 × x} / {x × 12})$$% = $${25}/{3}$$% = $$8{1}/{3}$$%.
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