SSC CHSL Compound Interest question with solution
Compound InterestModerateSSC CHSL 2024
Find the compound interest on ₹10,000 at 10% per annum for 2 years, compounded annually.
- (A)₹2,200
- (B)₹2,000
- (C)₹2,100
- (D)₹2,050
Correct answer: (C) ₹2,100
Amount after 2 years = 10000 × (1 + 10/100)² = 12100. Compound interest = amount − principal = 12100 − 10000 = 2100. Note that the simple interest for the same period would be only 2000.
Shortcut: For 2 years, effective rate = 2r + r²/100 = 21% of 10000.
About this question
- Subject
- Quantitative Aptitude
- Topic
- Compound Interest
- Exam
- SSC CHSL 2024
- Attempts on SSC Rank
- Not attempted yet
Appears in: SSC CHSL 2024 Tier 1 Question Paper — 2 July, Shift 1
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Last reviewed on 5 Oct 2026. Spotted a mistake? See our correction policy.