# Quant Quiz on “Compound Interest” for SSC CGL 2016

Q1. The difference between simple and compound interest on a sum of money at 4% per annum for 2 years is Rs. 8. The sum is-
(a) Rs. 400
(b) Rs. 800
(c) Rs. 4,000
(d) Rs. 5,000

Q2. A sum of money placed at compound interest doubles itself in 15 years. In how many years, it would amount to eight times of itself at the same rate of interest?
(a) 30 years
(b) 45 years
(c) 21 years
(d) 60 years

Q3. Ram claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 20%, the effective rate of interest becomes-
(a) 21.5%
(b) 21%
(c) 20%
(d) Cannot be determined

Q4. The difference between the compound and the simple interest on a sum for 2 years at 10% per annum, when the interest is compounded annually, is Rs. 28. If the yearly interest were compounded half-yearly, the difference in the two interests will be:
(a) Rs. 44
(b) Rs. 28.35
(c) Rs. 43.41
(d) Rs. 43.29

Q5. A certain sum of money yields Rs. 1261 as compound interest for 3 years at 5% per annum. The sum is:
(a) Rs. 9000
(b) Rs. 8400
(c) Rs. 7500
(d) Rs. 8000

Q6. At a certain rate per annum, the simple interest on a sum of money for one year is Rs. 260 and the compound interest on the same sum for two years is Rs. 540.80. The rate of interest per annum is-
(a) 4%
(b) 6%
(c) 8%
(d) 10%

Q7. The simple interest and compound interest (compound annually) on a certain sum of money with a given rate for a period of 2 years are Rs. 900 and Rs. 954 respectively. The sum of money is:
(a) Rs. 3700
(b) Rs. 3650
(c) Rs. 3850
(d) Rs. 3750

Q8. A certain sum of money amounts to Rs. 2,420 in 2 years and Rs. 2,662 in 3 years at same rate of compound interest, compounded annually. The rate of interest per annum is:
(a) 6%
(b) 8%
(c) 9%
(d) 10%

Q9. On a certain sum of money, the difference between the compound interest for a year, payable half-yearly, and the simple interest for a year is Rs. 180. If the rate of interest in both the cases is 10%, then the sum is:
(a) Rs. 60,000
(b) Rs. 72,000
(c) Rs. 62,000
(d) Rs. 54,000

Q10. The compound interest on Rs. 30,000 at 7% per annum for a certain time is Rs. 4,347. The time is:
(a) 3 years
(b) 4 years
(c) 2 years
(d) 2.5 years

Q11. An amount of money at compound interest grows up to Rs. 3,840 in 4 years and up to Rs. 3,936 in 5 years. Find the rate of interest.
(a) 2.5%
(b) 2%
(c) 3.5%
(d) 2.05%

Q12. The time in which Rs. 80,000 amounts to Rs. 92,610 at 10% p.a. compound interest, interest being compound semiannually is:
(a) 3/2 years
(b) 2 years
(c) 5/2 years
(d) 3 years

Q13. The compound interest on a certain sum of money at a certain rate per annum for two years is Rs. 2,050, and the simple interest on the same amount of money at the same rate for 3 years is Rs. 3000. Then the sum of money is:
(a) Rs. 20,000
(b) Rs. 18,000
(c) Rs. 21,000
(d) Rs. 25,000

Q14. The compound interest on a certain sum of money for 2 years at 5% is Rs. 328, then the sum is:
(a) Rs. 3000
(b) Rs. 3600
(c) Rs. 3200
(d) Rs. 3400

Q15. The difference between the compound interest and simple interest on a certain sum for 2 years at 10% per annum is Rs. 300. Find the sum.
(a) Rs. 31,000
(b) Rs 31,500
(c) Rs. 30,000
(d) Rs. 30,500

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