SSC CGL Quant – Simple & Compound Interest – Level 2 · Exam Level · Tier I Sprint

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SSC CGL Quant – Simple & Compound Interest – Level 2 · Exam Level · Tier I Sprint – 15 questions, subject: Quantitative Aptitude. Every question has the correct answer with a one-line explanation; tap "Show Answer". Free practice for TNPSC, UPSC, SSC, Bank and RRB exams – Shanmugam IAS Academy, Coimbatore.

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1.  
Find the compound interest on ₹ 8,000 at 15% per annum for 2 years, compounded yearly.

Correct Answer: B [₹ 2,580]

Explanation:

2R + R²/100 = 30 + 2.25 = 32.25% of 8,000 = 2,580.

2.  
The difference between CI and SI on a sum for 2 years at 8% per annum is ₹ 96. Find the sum.

Correct Answer: A [₹ 15,000]

Explanation:

P × (8/100)² = 96 → P = 96 × 10,000/64 = 15,000.

3.  
Find the compound interest on ₹ 40,000 for 1 year at 8% per annum, compounded half-yearly.

Correct Answer: C [₹ 3,264]

Explanation:

4% for 2 half-years: 4 + 4 + 16/100 = 8.16% of 40,000 = 3,264.

4.  
Reverse questionA sum amounts to ₹ 17,280 in 3 years at 20% per annum compound interest. Find the sum.

Correct Answer: D [₹ 10,000]

Explanation:

Factor (6/5)³ = 216/125 → P = 17,280 × 125/216 = 10,000.

5.  
Two-quantity comparison
Quantity I: SI on ₹ 10,000 at 10% per annum for 3 years
Quantity II: CI on ₹ 10,000 at 9% per annum for 3 years (yearly)

Correct Answer: A [Quantity I > Quantity II]

Explanation:

QI = 3,000; QII = 10,000 × (1.09³ − 1) = 2,950.29.

6.  
A sum doubles itself in 6 years at compound interest. In how many years will it become 8 times?

Correct Answer: D [18 years]

Explanation:

8 = 2³ → 3 × 6 = 18 years.

7.  
A sum doubles itself in 10 years at simple interest. In how many years will it become 3 times?

Correct Answer: C [20 years]

Explanation:

Each 10 years adds 1P; 3 times needs 2P → 20 years.

8.  

Directions (Q 20–21): The line graph shows the amount of a deposit kept at compound interest (compounded yearly).

Data graphWhat is the rate of interest per annum?

Correct Answer: B [10%]

Explanation:

22,000/20,000 = 1.1 (also 24,200/22,000 = 1.1) → 10%.

9.  
(Use the directions above – Q 20–21)
Data graphHow much interest was earned during the third year alone?

Correct Answer: A [₹ 2,420]

Explanation:

26,620 − 24,200 = 2,420 (10% of the year-2 amount).

10.  
Trick SpotterWhich is the fastest correct way to find CI − SI on ₹ 30,000 for 2 years at 10% per annum?

Correct Answer: A [30,000 × (10/100)²]

Explanation:

Difference Square: 30,000 × 1/100 = 300 in one step.

11.  
Spot My Mistake“CI on ₹ 6,000 at 15% per annum for 2 years = 2 × 15% of 6,000 = ₹ 1,800.” What is the correct CI?

Correct Answer: B [₹ 1,935]

Explanation:

CI % = 30 + 225/100 = 32.25% → 32.25% of 6,000 = 1,935.

12.  
₹ 12,000 is lent in two parts, one at 6% and the other at 8% simple interest. The total yearly interest is ₹ 840. How much is lent at 6%?

Correct Answer: D [₹ 6,000]

Explanation:

0.06x + 0.08(12,000 − x) = 840 → 960 − 0.02x = 840 → x = 6,000.

13.  
Find the compound interest on ₹ 7,500 for 2 years at 4% per annum, compounded yearly.

Correct Answer: C [₹ 612]

Explanation:

8 + 16/100 = 8.16% of 7,500 = 612.

14.  
Assertion–Reason
A: At 10% per annum, CI for 3 years exceeds SI for 3 years by 3.1% of the principal.
R: CI − SI for 3 years = P(R/100)²(3 + R/100).

Correct Answer: C [Both A and R are true and R explains A]

Explanation:

(1/10)² × 3.1 = 0.031 = 3.1% of P.

15.  
A sum at compound interest amounts to ₹ 9,680 in 2 years and ₹ 10,648 in 3 years. Find the sum.

Correct Answer: B [₹ 8,000]

Explanation:

Rate = 968/9,680 = 10%; P = 9,680 ÷ 1.21 = 8,000.

➤ Full notes, shortcuts and every answer explained – SSC CGL 2026 Quantitative Aptitude book (₹149): www.shanmugamiasacademy.in/study-materials/ssc-cgl-quantitative-aptitude

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