Model 1 Basic Compound Interest Using Formula Practice Questions Answers Test With Solutions & More Shortcuts

Question : 1 [SSC CGL Tier-I 2013]

The time in which Rs.80,000 amounts to Rs.92,610 at 10% p.a. compound interest, interest being compounded semi annually is :

a) 3 years

b) 1$1/2$ years

c) 2$1/2$ years

d) 2 years

Question : 2 [SSC CPO S.I.2006]

If the rate of interest be 4% per annum for first year, 5% per annum for second year and 6% per annum for third year, then the compound interest of Rs.10,000 for 3 years will be

a) Rs.2,000

b) Rs.1,600

c) Rs.1,575.20

d) Rs.1,625.80

Question : 3 [SSC CGL Tier-I 2010]

In how many years will a sum of Rs.800 at 10% per annum compound interest, compounded semi-annually becomes Rs.926.10 ?

a) 2$1/2$ years

b) 1$1/2$ years

c) 2$1/3$ years

d) 1$2/3$ years

Question : 4 [SSC CGL Tier-I 2010]

At what rate per cent per annum will a sum of Rs.1,000 amounts to Rs.1,102.50 in 2 years at compound interest ?

a) 6.5%

b) 5%

c) 6%

d) 5.5%

Question : 5 [SSC CGL Prelim 2003]

In what time will Rs.1000 amounts to Rs.1331 at 20% per annum, compounded half yearly ?

a) 2$1/2$ years

b) 1$1/2$ years

c) 1 year

d) 2 years