simple and compound interest Model Questions & Answers, Practice Test for ssc cgl tier 1 2023
ssc cgl tier 1 2023 SYLLABUS WISE SUBJECTS MCQs
Number System
Ratio Proportion & Partnership
Averages
Percentages
Profit & Loss
Time & Work
Time & Distance
Simple Interest & Compound Interest
Mensuration: Area & Volumes
Algebraic Expressions
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Rahul has borrowed Rs. 20,000 from two money tenders. On one he had to pay 8% p.a. S.I. and on the other amount he ple & Compound Interest C-81 had to pay 12% p.a. SI. After 3 years, he paid total interest of Rs.5760, find the amount borrowed at 12% p.a.
Answer: (c)
Let amount borrowed at 8% be x,
Let amount borrowed at 12% will be (20,000 – x)
${x×8×3}/100+{(20,000-x)×12×3}/100$=5760
On solving x = 8000 which is the amt. borrowed at 8%.
So, amt. borrowed at 12% = 20,000 – 8000
= 12,000
Sonika invested an amount of Rs. 5800 for 2 years. At what rate of compound interest will she get an amount of Rs. 594.5 at the end of two years ?
Answer: (c)
594.5 = 5800 $[(1 + r/{100})^2 - 1] = {594.5}/{5800} = (1 + r/{100})^2 - 1$
0.1025 + 1 = $(1 + r/100)^2 $
1.1025 = ${(100 + r)^2}/{10000}$
1.1025 × 10000 = $(100 + r)^2$ .
11025 = $(100 + r)^2$ .
105 = 100 + r
r = 5%
Ms. Sandhya deposits an amount of Rs. 31,400 to obtain a simple interest at the rate of 12 per cent per annum for 8 years. What total amount will Ms. Sandhya get at the end of 8 years?
Answer: (b)
Simple Interest = $\text"P×R×T"/100$
=${31400×8×12}/100$=Rs.30144
∴ Required amount = Rs.(31400 + 30144)
= Rs.61544
Population of a town increases at a certain rate per cent per annum. Present population of the town is 3600 and in 5 years it becomes 4800. How much will it be in 10 years ?
Answer: (a)
Let rate of increase in population = r% p.a.
Then 4800=3600$(1+r/100)^5$
∴ $(1+r/100)^5=4800/3600=4/3$
Population in the next 5 years will become
4800 × $4/3$ = 6400.
At a certain rate of simple interest, a certain sum doubles itself in 10 years. It will treble itself in years ________ .
Answer: (d)
It doubles in 10 yrs.
Then trebles in 20 yrs.
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