SSC CGL Compound Interest question with solution
Compound InterestModerateSSC CGL 2024
Find the compound interest on ₹6,000 at 5% per annum for 2 years, compounded annually.
- (A)₹660
- (B)₹675
- (C)₹615
- (D)₹585
Correct answer: (C) ₹615
Amount after 2 years = 6000 × (1 + 5/100)² = 6615. Compound interest = amount − principal = 6615 − 6000 = 615. Note that the simple interest for the same period would be only 600.
Shortcut: For 2 years, effective rate = 2r + r²/100 = 10.25% of 6000.
About this question
- Subject
- Quantitative Aptitude
- Topic
- Compound Interest
- Exam
- SSC CGL 2024
- Attempts on SSC Rank
- Not attempted yet
Appears in: SSC CGL 2024 Tier 1 Question Paper — 9 September, Shift 3
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Last reviewed on 5 Oct 2026. Spotted a mistake? See our correction policy.