Simple and Compound Interest for SSC CHSL, Download Free PDF

SSC CHSL exam is one of the most prestigious exams for youth in India. But getting selected for this post is not an easy task. Candidates do a lot of practice for this exam, but most of them fail due to one section, which is the quantitative aptitude section. Keeping this in mind, and to increase your chances of success, we have provided this blog. In which we have provided a PDF containing exam-level questions for one of the most scoring topics, which is simple and compound interest. You can download the PDF of questions on simple and compound interest for SSC CHSL exam.

Why is this Topic Important?

In the quantitative aptitude section, you will find 15 questions. Out of these, 2 questions are almost guaranteed to be from Simple or Compound Interest.

• It’s Real Life: You deal with loans and savings accounts in real life. This topic is logical.
• Formula-Based: There is no twisting. Put the values in the formula, and get the answer.
• Scoring: Since the calculation level is “Class 12”, the numbers are usually easy to cut (like 100, 500, 10%).

Understanding the Concept Simply

• Simple Interest (SI): Think of it as a fixed rent. If you borrow ₹100, you pay ₹10 extra every year. It never changes.
• Compound Interest (CI): This is “Interest on Interest.” If you pay ₹10 extra the first year, next year you pay interest on ₹110. The debt grows faster here.

Download Free PDF of SI & CI Questions for SSC CHSL

We have analyzed the papers from previous recruitments to find the exact level of questions asked. We have put them all in one PDF. Download it, save it, and practice these questions to build confidence.

Q1. Find the Simple Interest on ₹5000 at 10% per annum for 3 years.

(a) ₹1000
(b) ₹1500
(c) ₹2000
(d) ₹1200

Answer: (b) ₹1500

Logic:
Formula:
SI = (P × R × T) / 100
= (5000 × 10 × 3) / 100
= ₹1500

Q2. At what rate percent per annum will a sum of money double itself in 10 years at Simple Interest?

(a) 8%
(b) 10%
(c) 12%
(d) 5%

Answer: (b) 10%

Logic:
To double, Interest = Principal (P).
P = (P × R × 10) / 100
R = 10%

Q3. Find the Compound Interest on ₹4000 for 2 years at 5% per annum.

(a) ₹400
(b) ₹410
(c) ₹420
(d) ₹450

Answer: (b) ₹410

Logic:
5% of 4000 = 200 (1st year)
Amount after 1st year = 4000 + 200 = 4200
5% of 4200 = 210 (2nd year)
Total CI = 200 + 210 = ₹410

Q4. The difference between CI and SI on a certain sum for 2 years at 10% per annum is ₹20. Find the sum.

(a) ₹1000
(b) ₹2000
(c) ₹3000
(d) ₹1500

Answer: (b) ₹2000

Logic:
Difference for 2 years:
D = P(R/100)²
20 = P(10/100)²
20 = P(1/100)
P = ₹2000

Q5. A sum of money becomes ₹7200 in 2 years and ₹8400 in 3 years at Compound Interest. Find the rate of interest.

(a) 10.66%
(b) 12.5%
(c) 15%
(d) 16.66%

Answer: (d) 16.66%

Logic:
Interest earned in 1 year = 8400 − 7200 = 1200
Rate = (1200 / 7200) × 100 = 16.66%

Q6. In how many years will ₹1200 become ₹1344 at 6% Simple Interest?

(a) 2 years
(b) 3 years
(c) 2.5 years
(d) 1.5 years

Answer: (a) 2 years

Logic:
Interest = 1344 − 1200 = 144
144 = (1200 × 6 × T) / 100
144 = 72T
T = 2 years

Q7. What will be the Compound Interest on ₹10,000 for 2 years at 10% per annum, compounded half-yearly?

(a) ₹2100
(b) ₹2155.06
(c) ₹2000
(d) ₹2200

Answer: (b) ₹2155.06

Logic:
Half-yearly compounding:
Rate = 5%
Time = 4 half-years
This is usually solved using the compound amount formula or effective rate method.

Q8. A sum becomes 3 times itself in 5 years at Simple Interest. In how many years will it become 5 times?

(a) 8 years
(b) 10 years
(c) 12 years
(d) 9 years

Answer: (b) 10 years

Logic:
To become 3 times → Interest = 2P in 5 years
To become 5 times → Interest = 4P
Time doubles → 10 years

Q9. If the Simple Interest for 2 years is ₹400 and the Compound Interest for the same period and rate is ₹410, find the rate of interest.

(a) 4%
(b) 5%
(c) 10%
(d) 8%

Answer: (b) 5%

Logic:
SI for 1 year = 200
Difference between CI and SI = 10
10 is interest on ₹200
Rate = (10 / 200) × 100 = 5%

Q10. Find the Amount if P = ₹2500, R = 4%, T = 2 years (Simple Interest).

(a) ₹2600
(b) ₹2700
(c) ₹2800
(d) ₹2550

Answer: (b) ₹2700

Logic:
SI = (2500 × 4 × 2) / 100 = 200
Amount = 2500 + 200 = ₹2700

How to Prepare Interest Questions Easily?

Solving simple and compound interest questions can be tough, but using tips and tricks can make solving these questions easy. Below, we have mentioned some tips that will help you solve these questions easily.

• Memorize the Basic Formulas: You really only need two main formulas (SI = PRT/100 and A = P(1+R/100)^T). Write them on a sticky note.
• Understand “Per Annum”: Always check if the rate is yearly or half-yearly. If it says “Half-Yearly,” divide the Rate by 2 and multiply the Time by 2.
• Learn the Difference Trick: For finding the difference between SI and CI for 2 years, memorize this shortcut: D = P(R/100)². It saves 5 minutes of calculation!
• Attempt Topic Tests: Reading is not enough. You must calculate with your own hand. Attempt Free Topic Tests to improve your calculation speed.

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FAQs: Simple and Compound Questions for SSC CHSL

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