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SSC CGL Exam Quantitative Aptitude Study Material

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Simple and compound interest

A certain amount of money earns Rs. 540 as Simple Interest in 3 years. If it earns a Compound Interest of Rs. 376.20 at the same rate of interest in 2 years, find the amount (in Rupees)

a) 1600
b) 1800
c) 2000
d) 2100

✔Answer

✔Solution

Correct Answer Is : 1600

Solution Is : S.I for 2 years = 2/3 x 540 = Rs. 360 C.I - S.I = 376.20 - 360 = Rs.16.20 Rate of interest =16.20 / 180 x 100 = 9% per annum Principal = S.I x 100 / Time x Rate = 189 x 100 / 1 x 9 = Rs. 2000

A sum amounts to double in 8 years by simple interest. Then the rate of simple interest per annum is

a) 10%
b) 12.5%
c) 15%
d) 20%

✔Answer

✔Solution

Correct Answer Is : 12.5%

Solution Is : Principal = Rs.x Amount = Rs. 2x Interest = 2x - x Rate = S.I * 100/principal * Time = x * 100/ x * 8 = 25/2 = 12.5 % per annum

Rekha invested a sum of 12000 at 15% per annum compound interest. She received an amount of 13230 after n years. Find n.

a) 2.8 years
b) 3.0 years
c) 2.5 years
d) 2.0 years

✔Answer

✔Solution

Correct Answer Is : 2.0 years

Solution Is :

These count on a certain time of money, due to at the end of 2 1/4 years at 2 2/3 % p.a. is Rs.78. Find the sum.

a) Rs. 1,278
b) Rs. 1,300
c) Rs. 1,378
d) Rs. 1,400

✔Answer

✔Solution

Correct Answer Is : Rs. 1,300

Solution Is : (2) Sum = (discount100)/(timerate) =(78100)/((9/4)(8/3)) =(78*100)/6 =Rs.1300

Rs.800 amounts to Rs. 920 in 3 years at simple interest. If the interest rate is increased by 3 %, it would amount to

a) Rs.1,056
b) Rs.1,112
c) Rs.1,182
d) Rs.992

✔Answer

✔Solution

Correct Answer Is : Rs.992

Solution Is :

In What time will Rs. 64,000 amount to Rs. 68,921 at 5% per annum interest being compounded half yearly?

a) 3 years
b) 2(1/2)years
c) 2years
d) 1(1/2)years

✔Answer

✔Solution

Correct Answer Is : 1(1/2)years

Solution Is : Time =T half years Rate =(5/2)% per half year A= p(1+r/100)^T A=p(1+R/100)^T =68921=64000(1+(5/200))^T 68921/64000=(1+1/40)^T =68921/64000=(41/40)^T =(41/40)³=(41/40)T T=3 half years

Find the rate per cent per annum, if Rs. 2000 amounts to Rs. 2315.25 in a year and a half interest being compounded half yearly.

a) 11.50%
b) 10%
c) 5%
d) 20%

✔Answer

✔Solution

Correct Answer Is : 10%

Solution Is : Time =(3/2) years= 3 half years Rate =2R% per annum =R% per half annum =R% half year Amount =Principal-((1+(Rate/100))^time 231525=2000(1+(R/100))³ 9261/8000=(1+(R/100))³ (21/20)³=(1+(R/100))³ 1+(1/20)=(1+(R/100) (R/100)=(1/20) =5% Per half year Required rate =10% Per annum

A and B borrowed Rs. 3000 and Rs. 3200 respectively at the same rate of interest for 2(1/2) years. If B paid Rs. 40 more interest than A, find the rate of interest.

a) 5%
b) 7%
c) 8%
d) 6%

✔Answer

✔Solution

Correct Answer Is : 8%

Solution Is : Rate of interest =r% per annum S.I=principaltimerate/100 According to the question, (32005r/1002)-(30005*r/200)=40 5r=40 r=40/5 =8%per annum

A certain sum will amount to Rs.12100 in 2 years at 10% per annum of compound interest, interest being compounded annually. The sum is

a) Rs.12000
b) Rs.6000
c) Rs.8000
d) Rs.10000

✔Answer

✔Solution

Correct Answer Is : Rs.10000

Solution Is : Final rate of interest for two pens
=x+y+(xy/100)
=10+10+(100/100) =21%.
Let principal be P ⇒
P (121/100) =12100
⇒ P =100100 =10000

A certain amount of money earns Rs. 540 as Simple Interest in 3 years. If it earns a Compound Interest of Rs. 376.20 at the same rate of interest in 2 years, find the amount (in Rupees)

a) 1600
b) 1800
c) 2000
d) 2100

✔Answer

✔Solution

Correct Answer Is : 1600

Solution Is : S.I for 2 years = 2/3 x 540 = Rs. 360 C.I - S.I = 376.20 - 360 = Rs.16.20 Rate of interest =16.20 / 180 x 100 = 9% per annum Principal = S.I x 100 / Time x Rate = 189 x 100 / 1 x 9 = Rs. 2000

SSC CGL Exam Quantitative Aptitude Study Material

Simple and compound interest

A certain amount of money earns Rs. 540 as Simple Interest in 3 years. If it earns a Compound Interest of Rs. 376.20 at the same rate of interest in 2 years, find the amount (in Rupees)

Correct Answer Is : 1600

Solution Is : S.I for 2 years = 2/3 x 540 = Rs. 360 C.I - S.I = 376.20 - 360 = Rs.16.20 Rate of interest =16.20 / 180 x 100 = 9% per annum Principal = S.I x 100 / Time x Rate = 189 x 100 / 1 x 9 = Rs. 2000

A sum amounts to double in 8 years by simple interest. Then the rate of simple interest per annum is

Correct Answer Is : 12.5%

Solution Is : Principal = Rs.x Amount = Rs. 2x Interest = 2x - x Rate = S.I * 100/principal * Time = x * 100/ x * 8 = 25/2 = 12.5 % per annum

Rekha invested a sum of 12000 at 15% per annum compound interest. She received an amount of 13230 after n years. Find n.

Correct Answer Is : 2.0 years

Solution Is :

These count on a certain time of money, due to at the end of 2 1/4 years at 2 2/3 % p.a. is Rs.78. Find the sum.

Correct Answer Is : Rs. 1,300

Solution Is : (2) Sum = (discount*100)/(time*rate) =(78*100)/((9/4)*(8/3)) =(78*100)/6 =Rs.1300

Rs.800 amounts to Rs. 920 in 3 years at simple interest. If the interest rate is increased by 3 %, it would amount to

Correct Answer Is : Rs.992

Solution Is :

In What time will Rs. 64,000 amount to Rs. 68,921 at 5% per annum interest being compounded half yearly?

Correct Answer Is : 1(1/2)years

Solution Is : Time =T half years Rate =(5/2)% per half year A= p(1+r/100)^T A=p(1+R/100)^T =68921=64000(1+(5/200))^T 68921/64000=(1+1/40)^T =68921/64000=(41/40)^T =(41/40)3=(41/40)T T=3 half years

Find the rate per cent per annum, if Rs. 2000 amounts to Rs. 2315.25 in a year and a half interest being compounded half yearly.

Correct Answer Is : 10%

Solution Is : Time =(3/2) years= 3 half years Rate =2R% per annum =R% per half annum =R% half year Amount =Principal-((1+(Rate/100))^time 231525=2000(1+(R/100))3 9261/8000=(1+(R/100))3 (21/20)3=(1+(R/100))3 1+(1/20)=(1+(R/100) (R/100)=(1/20) =5% Per half year Required rate =10% Per annum

A and B borrowed Rs. 3000 and Rs. 3200 respectively at the same rate of interest for 2(1/2) years. If B paid Rs. 40 more interest than A, find the rate of interest.

Correct Answer Is : 8%

Solution Is : Rate of interest =r% per annum S.I=principal*time*rate/100 According to the question, (3200*5*r/100*2)-(3000*5*r/200)=40 5r=40 r=40/5 =8%per annum

A certain sum will amount to Rs.12100 in 2 years at 10% per annum of compound interest, interest being compounded annually. The sum is

Correct Answer Is : Rs.10000

Solution Is : Final rate of interest for two pens =x+y+(xy/100) =10+10+(100/100) =21%. Let principal be P ⇒ P *(121/100) =12100 ⇒ P =100*100 =10000

A certain amount of money earns Rs. 540 as Simple Interest in 3 years. If it earns a Compound Interest of Rs. 376.20 at the same rate of interest in 2 years, find the amount (in Rupees)

Correct Answer Is : 1600

Solution Is : S.I for 2 years = 2/3 x 540 = Rs. 360 C.I - S.I = 376.20 - 360 = Rs.16.20 Rate of interest =16.20 / 180 x 100 = 9% per annum Principal = S.I x 100 / Time x Rate = 189 x 100 / 1 x 9 = Rs. 2000

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Solution Is : (2) Sum = (discount100)/(timerate) =(78100)/((9/4)(8/3)) =(78*100)/6 =Rs.1300

Solution Is : Time =T half years Rate =(5/2)% per half year A= p(1+r/100)^T A=p(1+R/100)^T =68921=64000(1+(5/200))^T 68921/64000=(1+1/40)^T =68921/64000=(41/40)^T =(41/40)³=(41/40)T T=3 half years

Solution Is : Time =(3/2) years= 3 half years Rate =2R% per annum =R% per half annum =R% half year Amount =Principal-((1+(Rate/100))^time 231525=2000(1+(R/100))³ 9261/8000=(1+(R/100))³ (21/20)³=(1+(R/100))³ 1+(1/20)=(1+(R/100) (R/100)=(1/20) =5% Per half year Required rate =10% Per annum

Solution Is : Rate of interest =r% per annum S.I=principaltimerate/100 According to the question, (32005r/1002)-(30005*r/200)=40 5r=40 r=40/5 =8%per annum

Solution Is : Final rate of interest for two pens
=x+y+(xy/100)
=10+10+(100/100) =21%.
Let principal be P ⇒
P (121/100) =12100
⇒ P =100100 =10000