Q: What will be the compound interest on a sum of Rs. 40,000 after 3 years at the rate of 5% p.a.?

6,305. For compound interest, $A=40000(1.05)^3$. This gives $A=46305$. Subtracting the principal, the compound interest is $46305-40000=6305$.

Q: If the simple interest on a certain sum of money for 4 years at 5% per annum is ₹800, what would be the simple interest on the same sum for 6 years at 10% per annum?

₹ 2,400. From $SI=\frac{PRT}{100}$, we get $800=\frac{P\cdot 5\cdot 4}{100}$, so $P=4000$. For 6 years at 10%, $SI=\frac{4000\cdot 10\cdot 6}{100}=2400$.

Question 1

What will be the compound interest on a sum of Rs. 40,000 after 3 years at the rate of 5% p.a.?

Accepted Answer

6,305. For compound interest, $A=40000(1.05)^3$. This gives $A=46305$. Subtracting the principal, the compound interest is $46305-40000=6305$.

Question 2

If the simple interest on a certain sum of money for 4 years at 5% per annum is ₹800, what would be the simple interest on the same sum for 6 years at 10% per annum?

Accepted Answer

₹ 2,400. From $SI=\frac{PRT}{100}$, we get $800=\frac{P\cdot 5\cdot 4}{100}$, so $P=4000$. For 6 years at 10%, $SI=\frac{4000\cdot 10\cdot 6}{100}=2400$.

SSC CGL (Prelims) General: Percentage and Interest questions with solutions

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