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Compound Interest | CRACK SSC

CRACK SSC

Compound Interest

Compound Interest

Let Principal = P, Rate = R% per annum, Time

= n years.
Amount=Principal+Compound Interest

1. When interest is compound Annually

2. When interest is compounded Half Yearly

3. When interest is compounded Quarterly

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4. When the interest is compounded monthy

5. When interest is compounded Annually but time is in fraction

6. When Rates are different for different years, say R1%, R2%, R3% for 1st, 2nd and
3rd year respectively.

7. Present worth of Rs. x due n years hence is given by:

8. When CI is compounded annually, the ratio of SI and CI at the same rate% per
annum and for the same time period is given by=

9. The simple interest on a certain sum for 2 years is Rs x and the compound
interest is Rs y. Then:
a) Rate of interest=

b) Sum=
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10. If the difference between CI & SI on a certain sum at r% per annum for 2 years is
Rs x, then Principal=

11. If the difference between CI & SI on a certain sum at r% per annum for 3 years is
Rs x, then Principal=

12. The ratio of CI to SI on a certain sum at r% for 2 years is=

13. A certain sum of money invested at compound interest, compounded yearly,

becomes Rs A1 in n years and Rs A2 in (n+1) years. Then:
a) Rate of Interest=

b) Principal=

14. If the population of a town decreases r% per annum then population after n
years is=

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15. If any sum at the rate of compound interest becomes x1 times in n1 years and
x2 times in n2 years, then
Rate=

16. The difference of CI and SI for n years at the rate of interest r% on a sum Rs P
is=

Questions Asked from this Chapter:

Question Type 1: Based on Compound

Interest Formula
Example:
In what time will Rs 1000 becomes Rs 1331 at 10% per annum compounded annualy?

a) 3 years
b) 2.5 years
c) 2 years
d) 3.5 years
Solut ion:

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Question Type 2: Based on Both Compound

Interest & Simple Interest
Example:

The compound interest on a certain sum of money at 5% for 2 years is Rs 328. The
simple interest on that sum at the same rate and for the same period of time will be:
a) Rs 320
b) Rs 322
c) Rs 325
d) Rs 326
Solut ion:

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Question Type 3: Difference between

Compound Interest & Simple Interest.
Example:

If the difference between the compound interest and simple interest on a sum at
5% rate of interest per annum for three years is Rs 36.60, then the sum
is:

a) Rs 8000
b) Rs 8400
c) Rs 4400
d) Rs 4800
Solut ion:

Example:

The difference between the compound interest and simple interest on Rs 2500 for 2
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years at 4% per annum is?

a) Rs 40
b) Rs 45
c) Rs 14
d) Rs 4
Solut ion:

Example:

If the difference between the simple and compound interests on a sum of money
for 2 years at 4% per annum is Rs 80, the sum is:
a) Rs 5000
b) Rs 50000
c) Rs 10000
d) Rs 1000
Solut ion:

Question Type 4: If the amount becomes "N"

times of the sum after "T" years at
Compound Interest
Example:

A sum of money becomes eight times of itself in 3 years at compound interest. The
rate of interest is:
a) 100%
b) 80%
c) 20%
d) 10%
Solut ion:

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Example:

A sum of money at compound interest doubles itself in 15 years. It will become

eight times of itself in :
a) 45 years
b) 48 years
c) 54 years
d) 60 years
Solut ion:

Question Type 5: A Sum of money amounts

to Rs X1 in T1 years and to Rs X2 in T2 years
at Compound Interest
Example:
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An amount of money at compound interest grows upto Rs 3,840 in 4 years and upto
Rs 3,936 in 5 years. Find the rate of interest.
a) 2.5%
b) 2%
c) 3.5%
d) 2.05%
Solut ion:

Question Type 6: Based on Instalments

Example:

A man buys a scooter on making a cash down payment of Rs 16224 and promises
to pay two more yearly installments of equivalent amount in next two years. If the
rate of interest is 4% per annum compounded yearly, the cash value of scooter is:

a) Rs 40000
b) Rs 46824
c) Rs 46000
d) Rs 50000

Solution:

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Simple Interest

up

Work & Time

Quantitative Aptitude
Number System
Simplification
HCF and LCM
Fraction
Square & Square Root
Cube & Cube Root
Indices & Surds
Percentage
Average
Ratio & Proportion
Allegation
Age Relation Problem
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Data Interpretation
Profit & Loss
Partnership
Simple Interest
Compound Interest
Work & Time
Series & Sequence
Area & Perimeter
Volume & Surface Area
Algebra
Trigonometry
Geometry
Coordinate Geometry
Work & Wages
Pipe and Cistern
Time and Distance
Boat and Streams
Discount
Practice Questions

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