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SSC CHSL Compound Interest Questions

5 questions on Compound Interest for SSC CHSL, including questions from 2024 papers. Each comes with the correct answer and a worked explanation.

Questions
5
Moderate
5

Compound Interest questions with solutions

Q1.Compound InterestModerate

Find the compound interest on ₹18,000 at 20% per annum for 2 years, compounded annually.

  1. (A)₹7,830
  2. (B)₹7,380
  3. (C)₹7,920
  4. (D)₹8,100
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Correct answer: (C) ₹7,920

Amount after 2 years = 18000 × (1 + 20/100)² = 25920. Compound interest = amount − principal = 25920 − 18000 = 7920. Note that the simple interest for the same period would be only 7200.

Shortcut: For 2 years, effective rate = 2r + r²/100 = 44% of 18000.

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Q2.Compound InterestModerate

Find the compound interest on ₹18,000 at 5% per annum for 2 years, compounded annually.

  1. (A)₹1,755
  2. (B)₹1,800
  3. (C)₹1,980
  4. (D)₹1,845
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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.

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Q3.Compound InterestModerateSSC CHSL 2024

Find the compound interest on ₹22,000 at 5% per annum for 2 years, compounded annually.

  1. (A)₹2,200
  2. (B)₹2,255
  3. (C)₹2,145
  4. (D)₹2,420
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Correct answer: (B) ₹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.

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Q4.Compound InterestModerateSSC CHSL 2024

Find the compound interest on ₹20,000 at 5% per annum for 2 years, compounded annually.

  1. (A)₹1,950
  2. (B)₹2,050
  3. (C)₹2,250
  4. (D)₹2,200
Show answer and explanation

Correct answer: (B) ₹2,050

Amount after 2 years = 20000 × (1 + 5/100)² = 22050. Compound interest = amount − principal = 22050 − 20000 = 2050. Note that the simple interest for the same period would be only 2000.

Shortcut: For 2 years, effective rate = 2r + r²/100 = 10.25% of 20000.

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Q5.Compound InterestModerateSSC CHSL 2024

Find the compound interest on ₹10,000 at 10% per annum for 2 years, compounded annually.

  1. (A)₹2,200
  2. (B)₹2,000
  3. (C)₹2,100
  4. (D)₹2,050
Show answer and explanation

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.

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Frequently asked questions

How many SSC CHSL Compound Interest questions can I practise here?

5 questions — 5 moderate. 5 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 CHSL?

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.