Easy Tutorial
For Competitive Exams
Aptitude
TNPSC G4
10th CBSE Maths
  1. Home
  2. SSC CGL(Combined Graduate Level) Tier1 Test
  3. SSC CGL Tier1 Quantitative Aptitude

SSC CGL Tier1 Quantitative Aptitude Interest Test 5

2581.The difference between simple interest and compound on Rs. 900 for one year at 10% per annum reckoned half-yearly is:
Rs. 3
Rs. 2.25
Rs. 4.5
Rs. 4
Explanation:

Simple Interest =$\dfrac{PRT}{100}$ = $\dfrac{900 \times 10 \times 1}{100} $= Rs.90

Amount after 1 year on Rs.900 at 10% per annum when interest is reckoned half-yearly

=P $\left(1 + \dfrac{\left(R/2\right)}{100}\right)^2T$ = 900$\left(1 + \dfrac{(10/2)}{100}\right)^{2 \times 1}$ = 900$\left(1 + \dfrac{5}{100}\right)^{2}$ = 900$\left(\dfrac{105}{100}\right)^{2}$

$= \dfrac{900\times 105 \times 105}{100 \times 100}$ = Rs.992.25

Compound Interest = 992.25 - 900 = 92.25

Required difference between simple interest and compound interest = 92.25 - 90 = Rs.2.25

2582.The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:
6.06%
6.07%
6.08%
6.09%
Explanation:
Amount of Rs. 100 for 1 year
when compounded half-yearly= Rs $\left[100\times\left(1+\dfrac{3}{100}\right)^2\right]$= Rs. 106.09

$\therefore$ Effective rate = (106.09 - 100)% = 6.09%

2583.A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is:
Rs. 120
Rs. 121
Rs. 122
Rs. 123
Explanation:

= Rs. $\left[1600\times\left(1+\dfrac{5}{2\times100}\right)^2+1600\times\left(1+\dfrac{5}{2\times100}\right)\right]$

= Rs. $\left[1600+\dfrac{41}{40}\times\dfrac{41}{40}+1600\times\dfrac{41}{40}\right]$

= Rs. $\left[1600+\dfrac{41}{40}\left(\dfrac{41}{40}+1\right)\right]$

= Rs. $\left[\dfrac{1600\times41\times81}{40\times40}\right]$

= Rs. 3321

$\therefore$ C.I. = Rs. (3321 - 3200) = Rs. 121

2584.What will be the compound interest on a sum of Rs. 40,000 after 3 years at the rate of 11 p.c.p.a.?
Rs. 14705.24
Rs. 14602.25
Rs. 14822.26
Rs. 14322.10
Explanation:

Amount after 3 years = P $\left(1 + \dfrac{R}{100}\right)^T$ = $40000\left(1 + \dfrac{11}{100}\right)^3$ =$ 40000\left(\dfrac{111}{100}\right)^3$

= $\dfrac{40000 \times 111 \times 111 \times 111}{100 \times 100 \times 100}$ = $\dfrac{4\times 111 \times 111 \times 111}{ 100} $= 54705.24

Compound Interest = 54705.24 - 40000 = Rs. 14705.24

2585.At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?
6%
6.5%
7%
7.5%
Explanation:

Let the rate be R% p.a.

Then, 1200 $ \times\left(1 +\dfrac{R}{100} \right)^2$= 1348.32
$\Rightarrow \left(1 +\dfrac{R}{100} \right)^2$=$ \dfrac{134832}{120000} $=$ \dfrac{11236}{10000} $
$\therefore \left(1 +\dfrac{R}{100} \right)^2$=$ \left(\dfrac{106}{100} \right)^2$
$\Rightarrow$ 1 +$ \dfrac{R}{100} $=$ \dfrac{106}{100} $

$\Rightarrow$ R = 6%

2587.There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate?
Rs. 2160
Rs. 3120
Rs. 3972
Rs. 6240
Explanation:

Let P = Rs. 100. Then, S.I. Rs. 60 and T = 6 years.

$\therefore$ R =$ \left(\dfrac{100 \times 60}{100 \times 6} \right) $= 10% p.a.

Now, P = Rs. 12000. T = 3 years and R = 10% p.a.

$\therefore$ C.I. = Rs.$ \left[12000 \times\left\{\left(1 +\dfrac{10}{100} \right)^3- 1\right\}\right] $
= Rs.$ \left(12000 \times\dfrac{331}{1000} \right) $
= 3972.
2591.What is the difference between the compound interests on Rs. 5000 for 1$ \dfrac{1}{2} $ years at 4% per annum compounded yearly and half-yearly?
Rs. 2.04
Rs. 3.06
Rs. 4.80
Rs. 8.30
Explanation:
C.I. when interest is
compounded half-yearly		 = Rs.$ \left[5000 \times\left(1 +\dfrac{4}{100} \right)\times\left(1 +\dfrac{\dfrac{1}{2} \times 4}{100} \right)\right] $
= Rs.$ \left(5000 \times\dfrac{26}{25} \times\dfrac{51}{50} \right) $
= Rs. 5304.
C.I. when interest is
compounded half-yearly		 = Rs.$ \left[5000 \times\left(1 +\dfrac{2}{100} \right)^3\right] $
= Rs.$ \left(5000 \times\dfrac{51}{50} \times\dfrac{51}{50} \times\dfrac{51}{50} \right) $
= Rs. 5306.04

$\therefore$ Difference = Rs. (5306.04 - 5304) = Rs. 2.04

44153.Find compound interest on Rs.2500 invested at 6% per annually, compound semi-annually for 8 years.
151.33
1511.73
155.73
1500.32
Explanation:

Let Principal = 2500, r=6%=0.06616=0.03, n=8×2=16

We know that
A=P(1+r)n
=2500(1+.03)16
=4011.73
The compound interest =4011.73−2500=1511.73
44155.If the present value of my investment is $2,500 and the rate of interest is 2% compounded annually, what will the value be after 15 years?
$3,364.67
$3,306.25
$3,250
$3,047.49
Explanation:
Use the formula:
FV = PV × (1 + r)n
Substitute PV = $2,500, r = 2% = 0.02 and n = 15
FV = $2,500 × (1 + 0.02)15 = $2,500 × (1.02)15
= $2,500 × 1.34586...
= $3364.6708...
So the value after 6 years = $3,364.67
Share with Friends