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<html><body><h2 id="content-id-0417369582-2"><b>Simple Interest Questions Overview</b></h2><p>Simple Interest Questions have a good weightage in the Ssc Chsl Exam and the type of question asked in Ssc Chsl 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 Simple Interest Questions.</p><h2 id="content-id-5763842910-3"><b>Question On Simple Interest </b></h2>The compound interest received on a certain sum at the rate of 23% per annum in 4 years is Rs 5687.65. If the interest is compounded eight months, what will be the compound interest received on the same sum of money at the same rate over the same period of time?
<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 : 40 Seconds </h3></div></div><h2 id="content-id-5247813096-4"><b> Simple Interest Questions Options</b></h2><ol><li><p>Rs 5652.15</p>
</li><li><p>Rs 6552.15</p>
</li><li><p>Rs 5952.15</p>
</li><li><p>Rs 6252.15</p>
</li></ol> <h2 id="content-id-8623910574-5"><b> Simple Interest Questions Solution</b></h2><p>The correct answer is<strong> option 3</strong> i.e. <strong>Rs 5952.15</strong>.</p>

<p>Compound interest CI =  Rs 5687.65</p>

<p>Rate of interest r = 23%</p>

<p>Time t = 4 years</p>

<p>CI = P[(1 + r/100)<sup>n</sup> - 1]</p>

<p>⇒ 5687.65 = P[(1 + 23/100)<sup>4</sup> - 1]</p>

<p>⇒ 5687.65 = P[(1.23)<sup>4</sup> - 1]</p>

<p>⇒ 5687.65 = P[2.29 - 1]</p>

<p>⇒ P = 5687.65/1.29</p>

<p>⇒ P = 4409 (Approx)</p>

<p>Now according to the question,</p>

<p>Compounded 8 month</p>

<p>r = 23% = (23/12) × 8 = 46/3 = 15.33%</p>

<p>T = 4 years = 4 × 12/8 = 6 </p>

<p>CI = P[(1 + r/100)<sup>n</sup> - 1]</p>

<p>⇒ CI = 4409[(1 +15.33/100)<sup>6</sup> - 1]</p>

<p>⇒ CI = 4409(2.35 - 1)</p>

<p>CI = Rs 5952.15</p>
<h2 id="content-id-8302169457-6"><b> Simple Interest Questions Tips and Tricks</b></h2><img loading="lazy" src="https://study.kdcampus.live/questions-blog-pdf/Simple_Interest_Questions_Tips_and_Tricks.png" alt="Simple Interest Questions Tips and Tricks" height="260" width="480"><ol><li>Try to solve Simple Interest Questions without taking any help from the solutions.</li><li>Simple 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 3 i.e. Rs 5 - Simple Interest Questions are asked in Ssc Chsl exams and your question has been explained by experts like Neetu Mam.

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