Simple & Compound Interest

JKSSB Sub-Inspector (Telecommunication) · Basic Numeracy · 33 practice questions with answers and explanations: 12 Easy, 10 Medium, 11 Hard.

Sample questions

Sample Easy question 1

Find the amount on Rs. 2500 at 8% per annum simple interest for 3 years.

  1. 3050
  2. 3080
  3. 3100
  4. 3120
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Answer: C. SI = 2500×8×3/100 = 600. Amount = 2500+600 = 3100.

Sample Medium question 2

A sum of Rs. 6000 becomes Rs. 7200 in 4 years at simple interest. Find the rate.

  1. 4%
  2. 5%
  3. 6%
  4. 7%
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Answer: B. SI = 1200; rate = (1200 × 100)/(6000 × 4) = 5%.

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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