SSC MTS Compound Interest Questions
1 question on Compound Interest for SSC MTS, including questions from 2024 papers. Each comes with the correct answer and a worked explanation.
- Questions
- 1
- Moderate
- 1
Compound Interest questions with solutions
Find the compound interest on ₹18,000 at 20% per annum for 2 years, compounded annually.
- (A)₹7,380
- (B)₹7,920
- (C)₹7,200
- (D)₹7,830
Show answer and explanation
Correct answer: (B) ₹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.
Frequently asked questions
How many SSC MTS Compound Interest questions can I practise here?
1 question — 1 moderate. 1 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 MTS?
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.