SSC CGL Compound Interest Questions
14 questions on Compound Interest for SSC CGL, including questions from 2024 and 2023 papers. Each comes with the correct answer and a worked explanation.
- Questions
- 14
- Moderate
- 14
Compound Interest questions with solutions
Find the compound interest on ₹6,000 at 20% per annum for 2 years, compounded annually.
- (A)₹2,610
- (B)₹2,640
- (C)₹2,460
- (D)₹2,700
Show answer and explanation
Correct answer: (B) ₹2,640
Amount after 2 years = 6000 × (1 + 20/100)² = 8640. Compound interest = amount − principal = 8640 − 6000 = 2640. Note that the simple interest for the same period would be only 2400.
Shortcut: For 2 years, effective rate = 2r + r²/100 = 44% of 6000.
Find the compound interest on ₹16,000 at 10% per annum for 2 years, compounded annually.
- (A)₹3,360
- (B)₹3,280
- (C)₹3,200
- (D)₹3,520
Show answer and explanation
Correct answer: (A) ₹3,360
Amount after 2 years = 16000 × (1 + 10/100)² = 19360. Compound interest = amount − principal = 19360 − 16000 = 3360. Note that the simple interest for the same period would be only 3200.
Shortcut: For 2 years, effective rate = 2r + r²/100 = 21% of 16000.
Find the compound interest on ₹22,000 at 5% per annum for 2 years, compounded annually.
- (A)₹2,255
- (B)₹2,200
- (C)₹2,420
- (D)₹2,475
Show answer and explanation
Correct answer: (A) ₹2,255
Amount after 2 years = 22000 × (1 + 5/100)² = 24255. Compound interest = amount − principal = 24255 − 22000 = 2255. Note that the simple interest for the same period would be only 2200.
Shortcut: For 2 years, effective rate = 2r + r²/100 = 10.25% of 22000.
Find the compound interest on ₹12,000 at 20% per annum for 2 years, compounded annually.
- (A)₹4,920
- (B)₹5,280
- (C)₹4,800
- (D)₹5,220
Show answer and explanation
Correct answer: (B) ₹5,280
Amount after 2 years = 12000 × (1 + 20/100)² = 17280. Compound interest = amount − principal = 17280 − 12000 = 5280. Note that the simple interest for the same period would be only 4800.
Shortcut: For 2 years, effective rate = 2r + r²/100 = 44% of 12000.
Find the compound interest on ₹4,000 at 5% per annum for 2 years, compounded annually.
- (A)₹450
- (B)₹440
- (C)₹410
- (D)₹400
Show answer and explanation
Correct answer: (C) ₹410
Amount after 2 years = 4000 × (1 + 5/100)² = 4410. Compound interest = amount − principal = 4410 − 4000 = 410. Note that the simple interest for the same period would be only 400.
Shortcut: For 2 years, effective rate = 2r + r²/100 = 10.25% of 4000.
Find the compound interest on ₹2,000 at 5% per annum for 2 years, compounded annually.
- (A)₹195
- (B)₹205
- (C)₹225
- (D)₹200
Show answer and explanation
Correct answer: (B) ₹205
Amount after 2 years = 2000 × (1 + 5/100)² = 2205. Compound interest = amount − principal = 2205 − 2000 = 205. Note that the simple interest for the same period would be only 200.
Shortcut: For 2 years, effective rate = 2r + r²/100 = 10.25% of 2000.
Find the compound interest on ₹12,000 at 5% per annum for 2 years, compounded annually.
- (A)₹1,200
- (B)₹1,230
- (C)₹1,170
- (D)₹1,320
Show answer and explanation
Correct answer: (B) ₹1,230
Amount after 2 years = 12000 × (1 + 5/100)² = 13230. Compound interest = amount − principal = 13230 − 12000 = 1230. Note that the simple interest for the same period would be only 1200.
Shortcut: For 2 years, effective rate = 2r + r²/100 = 10.25% of 12000.
Find the compound interest on ₹6,000 at 5% per annum for 2 years, compounded annually.
- (A)₹660
- (B)₹675
- (C)₹615
- (D)₹585
Show answer and explanation
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.
Find the compound interest on ₹24,000 at 20% per annum for 2 years, compounded annually.
- (A)₹10,800
- (B)₹10,560
- (C)₹9,840
- (D)₹10,440
Show answer and explanation
Correct answer: (B) ₹10,560
Amount after 2 years = 24000 × (1 + 20/100)² = 34560. Compound interest = amount − principal = 34560 − 24000 = 10560. Note that the simple interest for the same period would be only 9600.
Shortcut: For 2 years, effective rate = 2r + r²/100 = 44% of 24000.
Find the compound interest on ₹14,000 at 10% per annum for 2 years, compounded annually.
- (A)₹3,080
- (B)₹2,800
- (C)₹2,870
- (D)₹2,940
Show answer and explanation
Correct answer: (D) ₹2,940
Amount after 2 years = 14000 × (1 + 10/100)² = 16940. Compound interest = amount − principal = 16940 − 14000 = 2940. Note that the simple interest for the same period would be only 2800.
Shortcut: For 2 years, effective rate = 2r + r²/100 = 21% of 14000.
Find the compound interest on ₹18,000 at 5% per annum for 2 years, compounded annually.
- (A)₹2,025
- (B)₹1,800
- (C)₹1,755
- (D)₹1,845
Show answer and explanation
Correct answer: (D) ₹1,845
Amount after 2 years = 18000 × (1 + 5/100)² = 19845. Compound interest = amount − principal = 19845 − 18000 = 1845. Note that the simple interest for the same period would be only 1800.
Shortcut: For 2 years, effective rate = 2r + r²/100 = 10.25% of 18000.
Find the compound interest on ₹10,000 at 5% per annum for 2 years, compounded annually.
- (A)₹1,025
- (B)₹1,125
- (C)₹975
- (D)₹1,000
Show answer and explanation
Correct answer: (A) ₹1,025
Amount after 2 years = 10000 × (1 + 5/100)² = 11025. Compound interest = amount − principal = 11025 − 10000 = 1025. Note that the simple interest for the same period would be only 1000.
Shortcut: For 2 years, effective rate = 2r + r²/100 = 10.25% of 10000.
Find the compound interest on ₹14,000 at 20% per annum for 2 years, compounded annually.
- (A)₹6,300
- (B)₹6,160
- (C)₹6,090
- (D)₹5,600
Show answer and explanation
Correct answer: (B) ₹6,160
Amount after 2 years = 14000 × (1 + 20/100)² = 20160. Compound interest = amount − principal = 20160 − 14000 = 6160. Note that the simple interest for the same period would be only 5600.
Shortcut: For 2 years, effective rate = 2r + r²/100 = 44% of 14000.
Find the compound interest on ₹14,000 at 20% per annum for 2 years, compounded annually.
- (A)₹6,160
- (B)₹5,740
- (C)₹5,600
- (D)₹6,090
Show answer and explanation
Correct answer: (A) ₹6,160
Amount after 2 years = 14000 × (1 + 20/100)² = 20160. Compound interest = amount − principal = 20160 − 14000 = 6160. Note that the simple interest for the same period would be only 5600.
Shortcut: For 2 years, effective rate = 2r + r²/100 = 44% of 14000.
Frequently asked questions
How many SSC CGL Compound Interest questions can I practise here?
14 questions — 14 moderate. 14 are shown on this page with answers and explanations, and the practice set draws from all of them.
How should I practise Compound Interest for SSC CGL?
Read through a few solved questions first to see the method, then take a timed practice set. Afterwards, check which questions you got wrong or spent longest on and redo those before moving on.