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<html><body><h2 id="content-id-9125863407-2"><b>Interest Questions Overview</b></h2><p>Interest Questions have a good weightage in the Ssc Cgl Exam and the type of question asked in Ssc Cgl exam is similar to the question mentioned below. It has been solved and explained by KD Live Experts under the guidance of Neetu Mam and they have tried to elaborate the concept used in Interest Questions.</p><h2 id="content-id-6231907584-3"><b>Question On Interest </b></h2>A bank offers 8.1% compound interest per annum calculated on a half-yearly basis. A customer deposits â&#130;¹8445 each on 1 January and 1 July of a year. At the end of the year, the amount he would have gained by way of interest is ________. [Give your answer correct to 2 decimal places.]
<div class="row show--dificulty--bar" style="margin-top:8px;"><div class="col-sm-6 show--dificulty--bar" style="display:inline-flex !important;border-right:0.1px solid #eee;"><h3 style="font-size:12px !important;">Difficulty : Moderate </h3></div><div class="col-sm-6 show--dificulty--bar" style="display:inline-flex;"><h3 style="font-size:12px !important;"> Average Time : 38 Seconds </h3></div></div><h2 id="content-id-9521604837-4"><b> Interest Questions Options</b></h2><ol><li><p>â&#130;¹1057.26</p>
</li><li><p>â&#130;¹1069.91</p>
</li><li><p>â&#130;¹1048.4</p>
</li><li><p>â&#130;¹1039.58</p>
</li></ol> <h2 id="content-id-4108762953-5"><b> Interest Questions Solution</b></h2><p>The correct answer is <strong>Option 4</strong> i.e. <strong>â&#130;¹1039.58</strong>.</p>

<p>Rate = 8.1% per annum</p>

<p>per half year = 4.05% = 0.0405</p>

<p>Deposit 1 (on 1 Jan): earns for 2 half-years.</p>

<p>Interest = 8445 × (1.0405<sup>2</sup> − 1)</p>

<p>⇒ 8445 × (1.0826 − 1)</p>

<p>⇒ 8445 × 0.0826 = 697.56</p>

<p>Deposit 2 (on 1 Jul): earns for 1 half-year</p>

<p>Interest = 8445 × 0.0405 = 342.02</p>

<p>Total interest = 697.56 + 342.02 = 1039.58</p>
<h2 id="content-id-6023549817-6"><b> Interest Questions Tips and Tricks</b></h2><img loading="lazy" src="https://study.kdcampus.live/questions-blog-pdf/Interest_Questions_Tips_and_Tricks.png" alt="Interest Questions Tips and Tricks" height="260" width="480"><ol><li>Try to solve Interest Questions without taking any help from the solutions.</li><li>Interest Questions require proper usage of concept so firstly read the question thoroughly and then use the right concept. </li><li>In case you're not able to solve the question in less than 30 seconds in the exam then you should skip the question and move to the next question.</li></ol><h3><b>Daily Current Affairs </b></h3><img loading="lazy" src="https://study.kdcampus.live/questions-blog-pdf/Daily_Current_Affairs.png" alt="Daily Current Affairs" height="260" width="480"><p>KD Live is providing Current Affairs on a daily basis for SSC and a current affairs quiz too for the practice. 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The correct answer is Option 4 i.e. ?1 - Interest Questions are asked in Ssc Cgl exams and your question has been explained by experts like Neetu Mam.

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