Simple & Compound Interest

JKSSB Panchayat Account Assistant · Mathematics · 33 practice questions with answers and explanations: 12 Easy, 10 Medium, 11 Hard.

Sample questions

Sample Easy question 1

Find the amount after 2 years on Rs. 4000 at 5% simple interest per annum.

  1. 4300
  2. 4350
  3. 4400
  4. 4450
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Answer: C. SI = (4000 × 5 × 2)/100 = 400, so amount = 4000 + 400 = 4400.

Sample Medium question 2

Find the difference between the compound interest and simple interest on Rs. 8000 for 2 years at 5% per annum.

  1. 18
  2. 20
  3. 22
  4. 25
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Answer: B. Difference for 2 years = P×(R/100)² = 8000×(0.05)² = 20.

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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