SSC CGL Quant – Simple & Compound Interest – Tier II Level · Marathon

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SSC CGL Quant – Simple & Compound Interest – Tier II Level · Marathon – 11 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.  
A loan of ₹ 21,000 is repaid in two equal annual instalments at 10% per annum compound interest. Find each instalment.

Correct Answer: B [₹ 12,100]

Explanation:

x(10/11 + 100/121) = 21,000 → x × 210/121 = 21,000 → x = 12,100.

2.  
A loan of ₹ 27,300 is repaid in three equal annual instalments at 20% per annum compound interest. Find each instalment.

Correct Answer: D [₹ 12,960]

Explanation:

x(5/6 + 25/36 + 125/216) = x × 455/216 = 27,300 → x = 27,300 × 216/455 = 12,960.

3.  
What equal annual instalment will discharge a debt of ₹ 1,092 due in 3 years at 12% per annum simple interest?

Correct Answer: B [₹ 325]

Explanation:

Instalments paid at the end of years 1 and 2 earn SI for 2 and 1 years: 3x + x × 12 × (2 + 1)/100 = 1,092 → 3.36x = 1,092 → x = 325.

4.  
₹ 50,000 is invested at 10%, 12% and 15% compound interest in the first, second and third years respectively. Find the total interest.

Correct Answer: D [₹ 20,840]

Explanation:

50,000 × 1.1 × 1.12 × 1.15 = 70,840 → interest 20,840.

5.  
Using the usual exam convention, find the compound interest on ₹ 20,000 for 2½ years at 10% per annum, compounded yearly.

Correct Answer: C [₹ 5,410]

Explanation:

20,000 × 1.1² × 1.05 = 25,410 → CI 5,410 (last half-year at 5%).

6.  
What is the effective annual rate of interest for 20% per annum compounded half-yearly?

Correct Answer: A [21%]

Explanation:

10% twice: 10 + 10 + 1 = 21%.

7.  
A sum amounts to ₹ 2,420 in 2 years and ₹ 2,662 in 3 years at compound interest. What is the simple interest on the same sum at the same rate for 4 years?

Correct Answer: C [₹ 800]

Explanation:

R = 242/2,420 = 10%; P = 2,420/1.21 = 2,000; SI = 2,000 × 10 × 4/100 = 800.

8.  
The compound interest on a sum for 2 years at 12.5% per annum is ₹ 1,700. What is the simple interest on it for 2 years at the same rate?

Correct Answer: D [₹ 1,600]

Explanation:

CI factor (9/8)² − 1 = 17/64 → P = 6,400; SI = 25% of 6,400 = 1,600.

9.  
Statement-basedWhich of the following is/are correct?
I. If a sum doubles in 5 years at CI, it becomes 8 times in 15 years.
II. If a sum doubles in 5 years at SI, it becomes 8 times in 35 years.
III. The rule of 72 gives the exact doubling time.

Correct Answer: B [I and II only]

Explanation:

I: 2³ → 15 yrs. II: needs 7P interest = 7 × 5 = 35 yrs.

10.  
Ravi deposits ₹ 1,000 at the beginning of each year for 2 years at 10% per annum compound interest. What is the total value at the end of the second year?

Correct Answer: A [₹ 2,310]

Explanation:

First deposit 1,000 × 1.21 = 1,210; second 1,000 × 1.1 = 1,100 → 2,310.

11.  
₹ 3,903 is divided between A and B so that A's share after 7 years equals B's share after 9 years, at 4% per annum compound interest. Find A's share.

Correct Answer: A [₹ 2,028]

Explanation:

A/B = 1.04² = 676/625 → A = 3,903 × 676/1,301 = 2,028.

➤ 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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