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SNAP Simple & Compound Interest Questions with Answers & Explanations

18 Simple & Compound Interest questions from the Quantitative, Data Interpretation & Data Sufficiency section of SNAP, 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.

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Question 1

What is the difference between compound interest and simple interest on ₹10,800 for 2 years at 5% per annum?

  1. A₹40.50
  2. B₹540
  3. C₹54
  4. D₹27
Show answer
Answer: (D) ₹27 For 2 years, CI − SI = P × (R/100)² = ₹27.
Question 2

What is the simple interest on ₹16,000 at 4% per annum for 5 years?

  1. A₹3,520
  2. B₹3,200
  3. C₹640
  4. D₹3,840
Show answer
Answer: (B) ₹3,200 SI = P × R × T / 100 = 16000 × 4 × 5 / 100 = ₹3,200.
Question 3

What is the difference between compound interest and simple interest on ₹12,000 for 2 years at 5% per annum?

  1. A₹45
  2. B₹30
  3. C₹600
  4. D₹40
Show answer
Answer: (B) ₹30 For 2 years, CI − SI = P × (R/100)² = ₹30.
Question 4

What is the simple interest on ₹3,000 at 10% per annum for 6 years?

  1. A₹1,800
  2. B₹1,500
  3. C₹1,980
  4. D₹2,100
Show answer
Answer: (A) ₹1,800 SI = P × R × T / 100 = 3000 × 10 × 6 / 100 = ₹1,800.
Question 5

What is the difference between compound interest and simple interest on ₹3,500 for 2 years at 20% per annum?

  1. A₹700
  2. B₹150
  3. C₹210
  4. D₹140
Show answer
Answer: (D) ₹140 For 2 years, CI − SI = P × (R/100)² = ₹140.
Question 6

What is the simple interest on ₹15,000 at 8% per annum for 6 years?

  1. A₹8,400
  2. B₹7,200
  3. C₹6,000
  4. D₹1,200
Show answer
Answer: (B) ₹7,200 SI = P × R × T / 100 = 15000 × 8 × 6 / 100 = ₹7,200.
Question 7

What is the compound interest on ₹3,000 for 2 years at 10% per annum, compounded annually?

  1. A₹930
  2. B₹693
  3. C₹600
  4. D₹630
Show answer
Answer: (D) ₹630 CI = P[(1 + R/100)² − 1] = ₹630.
Question 8

What is the simple interest on ₹4,500 at 5% per annum for 2 years?

  1. A₹450
  2. B₹675
  3. C₹495
  4. D₹225
Show answer
Answer: (A) ₹450 SI = P × R × T / 100 = 4500 × 5 × 2 / 100 = ₹450.
Question 9

What is the difference between compound interest and simple interest on ₹700 for 2 years at 20% per annum?

  1. A₹140
  2. B₹42
  3. C₹28
  4. D₹38
Show answer
Answer: (C) ₹28 For 2 years, CI − SI = P × (R/100)² = ₹28.
Question 10

What is the simple interest on ₹23,500 at 12% per annum for 5 years?

  1. A₹2,820
  2. B₹15,510
  3. C₹14,100
  4. D₹11,280
Show answer
Answer: (C) ₹14,100 SI = P × R × T / 100 = 23500 × 12 × 5 / 100 = ₹14,100.

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Question 11

What is the difference between compound interest and simple interest on ₹1,700 for 2 years at 10% per annum?

  1. A₹25.50
  2. B₹34
  3. C₹170
  4. D₹17
Show answer
Answer: (D) ₹17 For 2 years, CI − SI = P × (R/100)² = ₹17.
Question 12

What is the simple interest on ₹24,500 at 5% per annum for 3 years?

  1. A₹1,225
  2. B₹4,900
  3. C₹2,450
  4. D₹3,675
Show answer
Answer: (D) ₹3,675 SI = P × R × T / 100 = 24500 × 5 × 3 / 100 = ₹3,675.
Question 13

What is the difference between compound interest and simple interest on ₹8,000 for 2 years at 5% per annum?

  1. A₹30
  2. B₹40
  3. C₹20
  4. D₹400
Show answer
Answer: (C) ₹20 For 2 years, CI − SI = P × (R/100)² = ₹20.
Question 14

What is the simple interest on ₹10,000 at 4% per annum for 5 years?

  1. A₹2,000
  2. B₹400
  3. C₹1,600
  4. D₹2,200
Show answer
Answer: (A) ₹2,000 SI = P × R × T / 100 = 10000 × 4 × 5 / 100 = ₹2,000.
Question 15

What is the compound interest on ₹1,300 for 2 years at 20% per annum, compounded annually?

  1. A₹559
  2. B₹520
  3. C₹629.20
  4. D₹572
Show answer
Answer: (D) ₹572 CI = P[(1 + R/100)² − 1] = ₹572.
Question 16

What is the simple interest on ₹28,000 at 5% per annum for 2 years?

  1. A₹1,400
  2. B₹2,800
  3. C₹3,080
  4. D₹4,200
Show answer
Answer: (B) ₹2,800 SI = P × R × T / 100 = 28000 × 5 × 2 / 100 = ₹2,800.
Question 17

What is the compound interest on ₹800 for 2 years at 10% per annum, compounded annually?

  1. A₹248
  2. B₹160
  3. C₹168
  4. D₹184.80
Show answer
Answer: (C) ₹168 CI = P[(1 + R/100)² − 1] = ₹168.
Question 18

What is the simple interest on ₹4,500 at 6% per annum for 3 years?

  1. A₹1,080
  2. B₹810
  3. C₹270
  4. D₹891
Show answer
Answer: (B) ₹810 SI = P × R × T / 100 = 4500 × 6 × 3 / 100 = ₹810.

These are RankerClub practice questions written in the SNAP pattern. They are not official SSC/IBPS/RRB papers.

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