CI AND SI QUESTIONS FOR SSC CGL EXAMS, RR ACADEMY MEERUT

Q1. The compound interest on a certain sum for 2 years is Rs. 756 and Simple interest is Rs. 720. If the sum is invested such that the SI is Rs. 900 and the number of years is equal to the rate percent per annum, find the rate percent?

(a) 10%

(b) 12%

(c) 5%

(d) 15%

(e) None of these

Q2. Arun and Gaurav have to clear their respective loans by paying 3 equal annual instalments of Rs. 30,000 each. Arun pays @ 10% per annum of simple interest while Gaurav pays 10% per annum compound interest. What is the difference in their loan amounts?

(a) Rs. 400

(b) Rs. 350

(c) Rs. 300

(d) Rs. 450

(e) Rs. 500

Q3. Anjali invested an amount of Rs. 5800 for 2 years. At what rate of Compound Intrest will she get an amount of Rs. 594.50 at the end of two years?

(a) 5%

(b) 8%

(c) 7%

(d) 9%

(e) 10%

Q4. A man borrows Rs. 3000 at the rate of 10%  compounded annually. At the end of each year, he pays back Rs. 1000. How much amount should he pay at the end of the 3rd year to clear all his dues?

(a) Rs. 1583

(b) Rs. 1789

(c) Rs. 1600

(d) Rs. 1683

(e) None of these

Q5. Anjali took a loan of Rs. 20,000 to purchase a TV set from LG. She promised to make the payment after three years. The company charges CI @ 10% per annum for the same. But, suddenly the company announces the rate of interest as 15% per annum for the last one year of the loan period. What extra amount she has to pay due to the announcement of the new rate of interest?

(a) Rs. 1210

(b)  Rs. 1310

(c) Rs. 1220

(d) Rs. 1320

(e) None of these

Q6. A sum of money was invested for 14  years in scheme A which offers simple intrest @8% per annum.  The amount received from Scheme A after 14 years was then invested for two years in Scheme B which offers CI @ 10% per annum. If the intrest received from Scheme B was Rs. 6678, then what was the sum invested in Scheme A?

(a) Rs. 8000

(b) Rs. 10000

(c) Rs. 12500

(d) Rs. 15000

(e) None of these

Q7. Equal sums of money are deposited in two different banks by ABC  Enterprises, one at compound interest,  compounded annually and the other at simple interest, both at 5% per annum. If after two years, the difference in the amounts comes to Rs. 200, what are the amounts deposited with each bank?

(a) Rs. 75,000

(b) Rs. 80,000

(c) Rs. 82,000

(d) Rs. 85,000

(e) None of these

Q8. The ratio of CI and SI for two years is 3 : 2 while sum invested is Rs. 5000. What will be the difference between the CI and SI earned after three years?

(a) Rs. 15,000

(b) Rs. 20,000

(c) Rs. 10,000

(d) Rs. 25,000

(e) None of these

Q9. P and Q invest some amount under SI and CI respectively but for the same period at 6% per annum. Each gets a total amount of Rs. 65,000 at the end of 6 years. Which of the following is definitely true?

(i) Q’s initial principal is less than that of P

(ii) Q’s initial principal is equal to that of P

(iii) P’s percentage earning is less than that of Q

(a) (i) only 

(b) (ii) only

(c)  (iii) only 

(d) (i) and (iii) only

(e) None of these

Q10. A  depositsRs. 20,000 in a private company at the rate of 16% compounded annually whereas B deposits an equal Sum in PNB at the rate of 15% compounded half-yearly. If both deposit their money for 3/2 years only, then the intrest A will earn is how much percent more or less than the intrest earn by B?

(a) 4.33%

(b) 6.45%

(c) 3.33%

(d) 7.33%

(e) None of these

Q11. What amount of compound interest can be obtained on an amount of Rs 8840 at the rate of 5% per annum at the end of 3 yr?

(a) Rs 1393.405

(b) Rs 1326

(c) Rs 1384.50

(d) Rs 1340

(e) None of these

Q12. A tree’s height increases annually by 1/8th of its height. By how much will it’s height increase after 2.5 years if it stands today at 10 m height?

(a) 3.2 m

(b) 3.44 m

(c) 3.6 m

(d) 3.88 m

(e) None of these

Q13. CI on a certain sum for 2 years is Rs. 40.80 and SI  is Rs. 40 for same year. What will be the rate of interest?

(a) 2%

(b) 5%

(c) 4%

(d) 8%

(e) None of these

Q14. A sum of Rs. 18750 is left by will by a father to be divided between two sons, 12 and 14 years of age, so that when they attain maturity at 18,  the amount(P + I)  received by each at 5% simple interest will be the same. Find the sum allotted at present to the younger son.

(a) Rs. 9000

(b) Rs. 18,000

(c) Rs. 12,000

(d) Rs. 10,000

(e) Rs. 15,000

Q15. Siddhartha has deposited a certain amount in the bank to earn compound interest at 10% per annum. The difference between the interest of the third year and second year on the amount is Rs. 1,10. What amount has Siddhartha deposited?

(a) Rs. 8500

(b) Rs. 10,000

(c) Rs. 9500 

(d) Rs. 11,000

(e) Rs. 12,000