SSC GD Compound Interest question with solution
Compound InterestModerateSSC GD 2024
Find the compound interest on ₹8,000 at 10% per annum for 2 years, compounded annually.
- (A)₹1,640
- (B)₹1,680
- (C)₹1,600
- (D)₹1,760
Correct answer: (B) ₹1,680
Amount after 2 years = 8000 × (1 + 10/100)² = 9680. Compound interest = amount − principal = 9680 − 8000 = 1680. Note that the simple interest for the same period would be only 1600.
Shortcut: For 2 years, effective rate = 2r + r²/100 = 21% of 8000.
About this question
- Subject
- Quantitative Aptitude
- Topic
- Compound Interest
- Exam
- SSC GD 2024
- Attempts on SSC Rank
- Not attempted yet
Appears in: SSC GD 2024 Computer Based Examination Question Paper — 20 February, Shift 1
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Last reviewed on 5 Oct 2026. Spotted a mistake? See our correction policy.