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
Find the compound interest on ₹18,000 at 20% per annum for 2 years, compounded annually.
- (A)₹7,830
- (B)₹7,380
- (C)₹7,920
- (D)₹8,100
Show answer and explanation
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.
Find the compound interest on ₹18,000 at 5% per annum for 2 years, compounded annually.
- (A)₹1,755
- (B)₹1,800
- (C)₹1,980
- (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 ₹22,000 at 5% per annum for 2 years, compounded annually.
- (A)₹2,200
- (B)₹2,255
- (C)₹2,145
- (D)₹2,420
Show answer and explanation
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.
Find the compound interest on ₹20,000 at 5% per annum for 2 years, compounded annually.
- (A)₹1,950
- (B)₹2,050
- (C)₹2,250
- (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.
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
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.
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.