What is the difference between compound interest and simple interest on ₹2,800 for 2 years at 10% per annum?
- A₹42
- B₹38
- C₹28
- D₹56
Show answer
Answer: (C) ₹28
For 2 years, CI − SI = P × (R/100)² = ₹28.
GATE Simple & Compound Interest Questions with Answers & Explanations
15 Simple & Compound Interest questions from the General Aptitude (Quantitative & Reasoning) section of GATE, each with the correct answer and a worked explanation. Try each question first, then tap Show answer to check. When you're ready, take the timed chapter-wise test to see your all-India rank.
What is the simple interest on ₹23,500 at 6% per annum for 2 years?
- A₹2,820
- B₹1,410
- C₹3,102
- D₹4,230
Show answer
Answer: (A) ₹2,820
SI = P × R × T / 100 = 23500 × 6 × 2 / 100 = ₹2,820.
What is the simple interest on ₹30,000 at 6% per annum for 6 years?
- A₹9,000
- B₹11,880
- C₹1,800
- D₹10,800
Show answer
Answer: (D) ₹10,800
SI = P × R × T / 100 = 30000 × 6 × 6 / 100 = ₹10,800.
What is the compound interest on ₹2,000 for 2 years at 20% per annum, compounded annually?
- A₹800
- B₹1,280
- C₹880
- D₹968
Show answer
Answer: (C) ₹880
CI = P[(1 + R/100)² − 1] = ₹880.
What is the simple interest on ₹24,000 at 5% per annum for 5 years?
- A₹7,200
- B₹6,000
- C₹1,200
- D₹6,600
Show answer
Answer: (B) ₹6,000
SI = P × R × T / 100 = 24000 × 5 × 5 / 100 = ₹6,000.
What is the difference between compound interest and simple interest on ₹3,400 for 2 years at 10% per annum?
- A₹51
- B₹34
- C₹340
- D₹44
Show answer
Answer: (B) ₹34
For 2 years, CI − SI = P × (R/100)² = ₹34.
What is the simple interest on ₹20,000 at 10% per annum for 6 years?
- A₹14,000
- B₹10,000
- C₹2,000
- D₹12,000
Show answer
Answer: (D) ₹12,000
SI = P × R × T / 100 = 20000 × 10 × 6 / 100 = ₹12,000.
What is the difference between compound interest and simple interest on ₹2,300 for 2 years at 20% per annum?
- A₹92
- B₹184
- C₹460
- D₹102
Show answer
Answer: (A) ₹92
For 2 years, CI − SI = P × (R/100)² = ₹92.
What is the simple interest on ₹17,000 at 8% per annum for 4 years?
- A₹5,984
- B₹6,800
- C₹5,440
- D₹1,360
Show answer
Answer: (C) ₹5,440
SI = P × R × T / 100 = 17000 × 8 × 4 / 100 = ₹5,440.
What is the compound interest on ₹800 for 2 years at 20% per annum, compounded annually?
- A₹512
- B₹387.20
- C₹320
- D₹352
Show answer
Answer: (D) ₹352
CI = P[(1 + R/100)² − 1] = ₹352.
Ready for the real thing?
Timed General Aptitude (Quantitative & Reasoning) test · 5 questions · instant rank
What is the simple interest on ₹17,000 at 6% per annum for 5 years?
- A₹4,080
- B₹1,020
- C₹5,100
- D₹5,610
Show answer
Answer: (C) ₹5,100
SI = P × R × T / 100 = 17000 × 6 × 5 / 100 = ₹5,100.
What is the difference between compound interest and simple interest on ₹700 for 2 years at 20% per annum?
- A₹38
- B₹28
- C₹56
- D₹42
Show answer
Answer: (B) ₹28
For 2 years, CI − SI = P × (R/100)² = ₹28.
What is the simple interest on ₹23,000 at 10% per annum for 3 years?
- A₹7,590
- B₹2,300
- C₹6,900
- D₹9,200
Show answer
Answer: (C) ₹6,900
SI = P × R × T / 100 = 23000 × 10 × 3 / 100 = ₹6,900.
What is the difference between compound interest and simple interest on ₹600 for 2 years at 20% per annum?
- A₹48
- B₹36
- C₹24
- D₹120
Show answer
Answer: (C) ₹24
For 2 years, CI − SI = P × (R/100)² = ₹24.
What is the simple interest on ₹16,000 at 8% per annum for 6 years?
- A₹6,400
- B₹8,960
- C₹7,680
- D₹1,280
Show answer
Answer: (C) ₹7,680
SI = P × R × T / 100 = 16000 × 8 × 6 / 100 = ₹7,680.
These are RankerClub practice questions written in the GATE pattern. They are not official SSC/IBPS/RRB papers.
