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Simple Interest and Compound Interest Questions – For SSC, Bank exams

Simple Interest – साधारण ब्याज , Rate% – (दर), Time – समय, Compound Interest – चक्रवृद्धि ब्याज, Amount – मिश्रधन, Principle – मूलधन

Some Simple interest (साधारण ब्याज) Formulas
Simple Interest = Principle x Rate x Time (SI = PxR/100xT)
Time = Simple Interest/ Principal x Rate
Rate = Simple Interest/ Principal x Time
If SI and Time Is Constant then P x R = Constant

Example – A sum of money Rs 1750 is divided into two parts such that the simple interest 8% p.a on the first part and 6% p.a on the second part is equal after two years, then find the ratio of principle?
SI and Time are constant in both years so P x R = Constnat, P1 x R = P2 x R , P1 x 8 = P2 x 6
Ratio of Principle = P1 : P2 = 3:4 answer


Compound Interest Rate Chart


Rate In % Ist Yr IInd Yr IIIrd Yr IVth Yr Vth Yr

2% 2 4.04 6.12 8.24 10.40
3% 3 6.09 9.27 12.54 15.91
4% 4 8.16 12.48 16.98 21.66
5% 5 10.25 15.7625 21.55 27.62
6% 6 12.36 19.10 26.24 33.82
7% 7 14.49 22.50 31.07 40.24
8% 8 16.64 25.97 36.04 46.93
9% 9 18.81 29.50 41.15 53.85
10% 10 21 33.10 46.41 61.05
12% 12 25.44 40.49 57.35 76.23
15% 15 32.25 52.05 74.90 101.13
20% 20 44 72.80 107.36 148.832

Compound Interest Formulas Maths

Amount = Principle {1 +r/100}n

Compound Interest (CI)= Amount (A) – Principle (P)

3 Stages of compound interest calculation

Half yearly (छमाही) – r%/2 t x 2 yr

Quarterly (तिमाही) – r%/4 t x 4 yr

Monthly (मासिक) – r%/12 t x 12 yr

Difference Between Simple Interest and Compound Interest

1st Year 1st Year Interest is same in Both simple interest and Compound Interest.

2 Years – 1st year interest + IInd year interest both SI and CI + IInd year CI on Ist Year CI

Example – P- 1000, R- 10%, Year -2 Find the difference between CI and SI?

Sol – Ist year SI is 10% of 1000 = 100 and IInd Year SI is also 100, Total =200 but In Compound Interest Ist Year CI is 100 and IInd yr CI Also 100 Total 200 but here one more CI on 1st Year CI means 10% of 100 = 10, Total 2 Year CI = 210

Difference Between CI and SI is 210 – 200 = 10 answer.

3 Years – Ist Year CI + IInd Yr CI + IIIrd Yr CI in simple Interest same as Compound Interest Ist + IInd + IIIrd yr but here we add IInd yr CI on Ist yr CI + IIIrd yr CI on 2nd Year CI

CI

Ist yr – A
2nd yr – A + B
3rd yr – A + B + B+ C

Simple Interest And Compound Interest Questions – For SSC, Bank Exams Download Pdf 100 Questions Link Given Below

Problems on Simple Interest
  1. A certain sum of money amounts to Rs. 1680 in 3 years and to 1800 in 5 years. Find the sum and the rate of interest.
    (1) Rs. 1500; 4% (2) Rs.1200; 4% (3) Rs. 1600; 5% (4) Rs. 1800; 5%
  1. A man promises to his wife a birthday present, given her each year a number of rupees equal to the number of years in her age. If her birthday falls on August 8, what sum must be placed at simple interest at 7% on January 1 before she is 63 (non-leap year) in order to raise the required sum?
    (1) Rs. 1600 (2) Rs. 1550 (3) Rs.1500 (4) Rs. 1450
  1. Ram lent Rs. 1200 to Shyam for 5 years and Rs. 1500 to Mohan for 2 years received altogether Rs. 900 as interest. Find the rate per annum.
    (1) 8.5% (2) 8% (3) 9% (4) 10%
  1. A person on retirement gets Rs. 3,20,000 from his gratuity and P.F. He wants to invest this amount in Post Office and Bank in such a way that he earns a total interest of Rs. 27,600 every year. If the annual rate of interest in Post Office and Bank be respectively 9% and 8%, What are the amounts invested in Post Office and Bank respectively?
    (1) Rs. 200000, Rs. 120000 (2) Rs. 180000 and Rs. 140000 (3) Rs. 185000, Rs. 135000 (4) None of these
  1. Find the interest on Rs. 1460 at 10% from 5th February 1992 to 25th April 1992.
    (1) Rs. 32 (2) Rs. 36 (3) Rs. 40 (4) Rs. 34
  1. Find the annual installment that will discharge a debt of Rs. 12900 due in 4 years at 5% per annum simple interest.
    (1) Rs. 2750 (2) Rs. 2150 (3) Rs. 2500 (4) Rs. 3000
  1. A person takes a loan of 4,000 on the condition that he would pay it in the monthly installment of 500. He has to pay interest @ 6% on the outstanding balances, then finds out the average rate of interest received by the creditor.
    (1) 27/8 % Percent Per annum (2) 19/8 % Percent Per annum (3) 37/8 % Percent Per annum (4) 25/8 % Percent Per annum
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  1. The principle which gives Rs. 1 interest per day at a rate of 5% simple interest per annum is
    (1) Rs. 5000 (2) Rs. 7300 (3) Rs. 36500 (4) Rs. 3650
  1. A certain sum of money amounts to Rs. 2200 at 5% p.a. rate of interest, Rs. 2320 at 8% interest in the same period of time. The period of time is :
    (1) 3 years (2) 4 years (3) 5 years (4) 2 years
  1. The rate of simple interest per annum at which a sum of money doubles itself in 50/3 years is
    (1) 4% (2) 5% (3) 6% (4) 20/3%
  1. A and B borrowed Rs. 3000 and Rs. 3200 respectively at the same rate of interest for 5/2 years. If B paid Rs. 40 more interest than A, find the rate of interest.
    (1) 5% (2) 7% (3) 8% (4) 6%
  1. If Rs. 12,000 is divided into two parts such that the simple interest on the first part for 3 years at 12% per annum is equal to the simple interest on the second part for 9/2 years at 16% per annum, the greater part is
    (1) Rs. 8,000 (2) Rs. 6,000 (3) Rs. 7,000 (4) Rs. 7,500
  1. A man buys a TV priced at Rs. 16000. He pays Rs. 4000 at once and the rest after 15 months on which he is charged simple interest at the rate of 12% per year. The total amount he pays for the TV is
    (1) Rs. 18,200 (2) Rs. 17,800 (3) Rs. 16,800 (4) Rs. 17,200

Problems On Compound Interest

  1. Find the ratio of simple interest to compound interest for 2 years at 4% per annum, compounded yearly in case of compound interest.
    (1) 50 : 53 (2) 50 : 51 (3) 49 : 50 (4) 48 : 53
  1. The simple interest on a certain sum for 2 years is Rs. 50 and the compound interest is Rs. 55. Find the rate of interest per annum and the sum.
    (1) 16% P.a. ; Rs. 200 (2) 15% P.a. ; Rs. 150 (3) 20% P.a. ; Rs. 125 (4) 18% P.a. ; Rs. 175
  1. If the difference between CI and SI on a certain sum at r% per annum for 2 years is Rs. x, find the expression for the principal sum. If the difference between CI and SI on a certain sum at 4% per annum for 2 years is Rs. 25, find
    the sum.
    (1) Rs. 18625 (2) Rs. 16625 (3) Rs. 14625 (4) Rs. 15625
  1. The compound interest on a sum of money at 5% per annum for 3 years is Rs. 2522. What would be the simple interest on this sum at the same rate and for the same period?
    (1) Rs. 2500 (2) Rs. 2400 (3) Rs. 2450 (4) Rs. 2350
  1. . A sum of money was lent at 10% per annum, compounded annually, for 2 years. If the interest was compounded half-yearly, he would have received 220.25 more. Find the sum.
    (1) Rs. 40000 (2) Rs. 45000 (3) Rs. 48000 (4) Rs. 5000
  1. Two years ago, the value of my motorbike was Rs. 62500. If the value depreciates by 4% every year, now its value is
    (1) Rs. 56700 (2) Rs. 57600 (3) Rs. 57500 (4) Rs. 55700
  1. The compound interest on a sum of Rs. 5000 at 8% per annum for 9 months when interest is compound quarterly is :
    (1) Rs. 300 (2) Rs. 300.12 (3) Rs. 306.04 (4) Rs. 308
  1. A principal of Rs. 10,000, after 2 years compounded annually, the rate of interest being 10% per annum during the first year and 12% per annum during the second year (in rupees) will amount
    to :
    (1) Rs. 12,000 (2) Rs. 12,320 (3) Rs. 12,500 (4) Rs. 11,32
  1. A man invested a sum of money at compound interest. It amounted to Rs. 2420 in 2 years and to Rs. 2662 in 3 years. Find the sum.
    (1) Rs. 1000 (2) Rs. 2000 (3) Rs. 5082 (4) Rs. 3000
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  1. The compound interest on a certain sum of money at a certain rate for 2 years is 40.80 and the simple interest on the same sum is 40 at the same rate and for the same time. The rate of interest is
    (1) 2% per annum (2) 3% per annum (3) 4% per annum (4) 5% per annum
  1. The least number of years in which a sum of money on 19% p.a. compound interest will be more than double is
    (1) 3 years (2) 4 years (3) 5 years (4) 2 years
  1. There is a 40% increase in an amount in 8 years at simple interest. What will be the compound interest (in rupees) of Rs 30000 after 2 years at the same rate?
    (1) Rs 6150 (2) Rs 7687.5 (3) Rs 4612.5 (4) Rs 3075
  1. A sum of Rs 6,000 is deposited for 3 years at 5% per annum compound interest (compounded annually). The difference in interests for 3 and 2 years will be
    (1) Rs 75.00 (2) Rs 30.75 (3) Rs 330.75 (4) Rs 375.00
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  1. On a certain sum of money lent out at 16% p.a. the difference between the compound interest for 1 year, payable half-yearly, and the simple interest for 1 year is Rs 56. The sum is
    (1) Rs 1080 (2) Rs 7805 (3) Rs 8750 (4) Rs 5780
  1. An amount of money at compound interest grows up to 3,840 in 4 years and up to Rs 3,936 in 5 years. Find the rate of interest.
    (1) 2.5% (2) 2% (3) 3.5% (4) 2.05%
  1. B borrows Rs 5,000 from A at 6% p.a. simple interest and lends it to C at compound interest of 10% p.a. If B collects the money back from C after 2 years and repays A, the profit made by B in the transaction is
    (1) Rs 1,050 (2) Rs 500 (3) Rs 450 (4) Rs 600
  1. A sum of money becomes eight times in 3 years if the rate is compounded annually. In how much time will the same amount at the same compound rate become sixteen times?
    (1) 6 years (2) 4 years (3) 8 years (4) 5 years
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