Simple & Compound Interest

JKSSB Class-IV & MTS · Mathematics · 33 practice questions with answers and explanations: 12 Easy, 10 Medium, 11 Hard.

Sample questions

Sample Easy question 1

A sum of Rs. 2000 earns Rs. 240 as simple interest at 4% per annum. Find the time period.

  1. 2 years
  2. 2.5 years
  3. 3 years
  4. 3.5 years
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Answer: C. Time = (SI × 100)/(P×R) = (240×100)/(2000×4) = 3 years.

Sample Medium question 2

The simple interest on a sum for 2 years at 5% per annum is Rs. 500. Find the sum.

  1. 4500
  2. 5000
  3. 5500
  4. 6000
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Answer: B. Sum = (500 × 100)/(5 × 2) = 5000.

Sample Hard question 3

A sum becomes Rs. 9680 in 2 years and Rs. 10648 in 3 years at compound interest. Find the rate of interest.

  1. 8%
  2. 9%
  3. 10%
  4. 12%
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Answer: C. Ratio 10648/9680 = 1.10, so the rate for one year is 10%.

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