simple and compound interest Model Questions & Answers, Practice Test for ssc mts paper 1 2023
ssc mts paper 1 2023 SYLLABUS WISE SUBJECTS MCQs
Number System
LCM & HCF
Ratio Proportion & Partnership
Percentages
Profit & Loss
Time & Work
Time & Distance
Simple Interest & Compound Interest
Mensuration: Area & Volumes
Algebraic Expressions
Trigonometric Ratios & Identity
Mr. Sharma invested an amount of Rs. 25,000 in fixed deposit @ 8% p.a. C.I. for two years. What amount Mr. Sharma will get on maturity?
Answer: (b)
Amount = 25,000$(1+8/100)^2$
= 29160
In what time will RS.72 become Rs.81 at 1 6 % 4 p.a. SI?
Answer: (a)
$ A=P(1+{TR}/100)$
$81=72(1+{T×25/4}/100)$
${16+T}/16=81/72$
16 + T = 18
T = 2 years.
The compound interest accrued on an amount of Rs. 25,500 at the end of three year is Rs. 8,440.5. What would be the simple interest accrued on the same amount at the same rate in the same period?
Answer: (d)
25500$(1+r/100)^3$-25500
=8440.5
⇒ 25500$(1+r/100)^3$
=8440.5+25500
⇒ $(1+r/100)^3$=$33940.5/25500$
=$1331/1000$=$(11/10)^3$
⇒ $(1+r/100)$=$(11/10)$
⇒$1+r/100=11/10$
⇒$r/100=11/10-1=1/10$
⇒ r=$100/10$=10
∴ Simple interest
=${25500×10×3}/100$
=Rs.7650
What would be the compound interest accrued on an amount of Rs. 7400 @ 13.5 p.c.p.a. at the end of two years ? (Rounded off to two digits after decimal)
Answer: (d)
Compound interest = 74000 $[(1 + 27/{100})^2 - 1]$
= 7400 $[({227}/{200})^2 - 1] = 7400 [{227 × 227 - 200 × 200}/{200 × 200}]$
=7400$[{51529 - 40000}/{40000}] = 7400 × {11529}/{40000}$
= 2132.865 = Rs. 2132.87
A principal of Rs. 10,000 after 2 years compounded annualy, the rate of interest being 10% p.a. during the first year and 12% p.a. during the second year will amount to:
Answer: (b)
Amt = 10,000$(1+10/100)(1+12/100)$
= 12320
ssc mts paper 1 2023 IMPORTANT QUESTION AND ANSWERS
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