Simple & Compound Interest

JKSSB Assistant Training Officer (Handicrafts & Handlooms) · Numerical Ability · 16 practice questions with answers and explanations: 8 Easy, 8 Medium, 0 Hard.

Sample questions

Sample Easy question 1

At what rate of simple interest per annum will Rs. 4000 amount to Rs. 5280 in 4 years?

  1. 10%
  2. 8%
  3. 7%
  4. 9%
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Answer: B. Simple interest = 5280 − 4000 = Rs. 1280. Rate = (1280 × 100) ÷ (4000 × 4) = 8%.

Sample Easy question 2

At what rate of simple interest per annum will Rs. 12000 amount to Rs. 14400 in 4 years?

  1. 4%
  2. 5%
  3. 7%
  4. 6%
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Answer: B. Simple interest = 14400 − 12000 = Rs. 2400. Rate = (2400 × 100) ÷ (12000 × 4) = 5%.

Sample Easy question 3

At what rate of simple interest per annum will Rs. 8000 amount to Rs. 8960 in 2 years?

  1. 6%
  2. 8%
  3. 7%
  4. 5%
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Answer: A. Simple interest = 8960 − 8000 = Rs. 960. Rate = (960 × 100) ÷ (8000 × 2) = 6%.

Sample Medium question 4

The difference between the compound interest (compounded annually) and the simple interest on a certain sum for 2 years at 12% per annum is Rs. 36. Find the sum.

  1. Rs. 3500
  2. Rs. 1250
  3. Rs. 5000
  4. Rs. 2500
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Answer: D. For 2 years, CI − SI = P × (r/100)². So P = 36 × (100/12)² = Rs. 2500.

Sample Medium question 5

The difference between the compound interest (compounded annually) and the simple interest on a certain sum for 2 years at 5% per annum is Rs. 10. Find the sum.

  1. Rs. 2000
  2. Rs. 4000
  3. Rs. 5000
  4. Rs. 8000
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Answer: B. For 2 years, CI − SI = P × (r/100)². So P = 10 × (100/5)² = Rs. 4000.

Sample Medium question 6

The difference between the compound interest (compounded annually) and the simple interest on a certain sum for 2 years at 10% per annum is Rs. 200. Find the sum.

  1. Rs. 21000
  2. Rs. 40000
  3. Rs. 20000
  4. Rs. 10000
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Answer: C. For 2 years, CI − SI = P × (r/100)². So P = 200 × (100/10)² = Rs. 20000.

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