Interest Questions for SSC CHSL

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Interest Questions for SSC CHSL
Interest Questions for SSC CHSL

Interest Questions for SSC CHSL:

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Question 1: A shopkeeper marks the price of an article at 80. What will be the selling price, if he allows two successive discounts at 5% each ?

a) 72.2
b) 72
c) 85
d) 7.2

Question 2: A sum of money placed at compound interest doubles itself in 4 years. In how many years will it amount to four times itself ?

a) 12 years
b) 13 years
c) 8 years
d) 16 years

Question 3: In what time will 8,000, at 3% per annum, produce the same interest as 6, 000 does in 5 years at 4 % simple interest ?

a) 5 years
b) 6 years
c) 3 years
d) 4 years

Question 4: The rate of simple interest at which a sum of money becomes three times in 25 years is :

a) 6%
b) 8%
c) 5%
d) 4%

Question 5: The simple interest on a sum for 5 years is one fourth of the sum. The rate of interest per annum is

a) 5%
b) 6%
c) 4%
d) 8%

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Question 6: If the amount received at the end of 2nd and 3rd year as Compound Interest on a certain Principal is Rs 2100, and Rs 2268 respectively, what is the rate (in %) of interest?

a) 7
b) 8
c) 9
d) 10

Question 7: An amount fetched a total simple interest of Rs. 3200 at the rate of 6.25 %/yr in 4 years. What is the amount (in Rs)?

a) 13800
b) 11800
c) 12800
d) 14800

Question 8: The simple interest on Rs. 2000 for 2 years at 7.5% per annum will be

a) Rs.150
b) Rs.300
c) Rs.600
d) Rs.400

Question 9: The compound ratio of the inverse ratios of the ratios x : yz , y : zx , z : xy is:

a) 1 : xyz
b) xyz : 1
c) 1: 1
d) x : yz

Question 10: The amount of Rs. 10,000 after 2 years, compounded annually with the rate of interest being 10% per annum during the first year and 12% per annum during the second year, would be (in rupees)

a) 11,320
b) 12,000
c) 12,320
d) 12,500

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Solutions for Interest Questions for SSC CHSL:

1) Answer (A)

marked price of article = Rs 80
Now as it is given that two successive discounts of 5% are being provided it means after 1st discount price becomes = 0.95 x 80 = 76
Now after 2nd 5% discount price becomes = 0.95×76 =Rs 72.2
Hence selling price = Rs 72.2

2) Answer (C)

it is given that A sum of money placed at compound interest doubles itself in 4 years
here we need to make the money 4 times
imagine that we invested Rs P
and hence ,
P becomes 2P in 4 years and so this 2P will become 4P in another 4 years and hence total 8 years are required to make Rs P –> Rs 4P

3) Answer (A)

It is given that Rs 6000 with interest 4% per annum (SI) produces an interest in 5 years = $$\frac{P \times R \times T}{100}$$ = $$\frac{6000 \times 4 \times 5}{100}$$
= Rs 1200
Now the new principal amount is Rs 8000 and rate of interest is 3 % per annum. Let the time be T years in which same Rs 1200 will be generated as interest.
$$\frac{8000 \times 3 \times T}{100}$$ = 1200
T = 5 years

4) Answer (B)

Let the rate of interest be r%
as the money is becoming 3 times the investment in 25 years it means we are generating an interest of 2times the principal amount in 25 years
2p = $$\frac{p \times r \times t}{100}$$
t = 25 years is given
r = 8%

5) Answer (A)

it is given that simple interest on a sum for 5 years is one fourth of the sum
let the sum be Rs P
and rate of interest be R%
so SI = $$\frac{PRT}{100}$$
T= 5 years
$$\frac{P}{4}$$ = $$\frac{PR5}{100}$$
R = 5%

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6) Answer (B)

Compound interest at the end of 2nd year = Rs. 2100
Compound interest at the end of 3rd year = Rs. 2268
=> Difference = 2268 – 2100 = Rs. 168
This is the interest obtained on the amount of 2nd year.
$$\therefore$$ Rate of interest, $$r = \frac{168}{2100} \times 100 = 8 \%$$
=> Ans – (B)

7) Answer (C)

$$I=\frac{PTR}{100}$$
$$3200=\frac{P*4*6.25}{100}$$
$$3200=\frac{25*P}{100}$$
$$P=12800$$
So the answer is option C.

8) Answer (B)

Principal sum = P = Rs. 2000
Rate of interest = 7.5% and time period = 2 years
Simple interest = $$\frac{P \times r \times t}{100}$$
= $$\frac{2000 \times 7.5 \times 2}{100}$$
= $$20 \times 15=Rs.$$ $$300$$
=> Ans – (B)

9) Answer (B)

Compound ratio is the ratio of product of first terms in every ratio to that of product of second term in every ratio.
Thus, inverse ratios of the ratios of x : yz , y : zx , z : xy
= $$\frac{yz}{x}$$ , $$\frac{zx}{y}$$ , $$\frac{xy}{z}$$
Product of ratios = $$\frac{x^2y^2z^2}{xyz}$$
= $$\frac{xyz}{1}$$
Thus, compound ratio = xyz : 1
=> Ans – (B)

10) Answer (C)

Principal amount = Rs. 10,000
Rate of interest = 10% for first year and 12% for second year
=> Amount after interest = $$10,000 \times \frac{110}{100} \times \frac{112}{100}$$
= $$110 \times 112=Rs.$$ $$12,320$$
=> Ans – (C)

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