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CSAT · Basic numeracy

Interest

2 questions, from 2018 to 2023.

2018

1 question

2018 · Q69

A person bought a refrigerator worth ₹ 22,800 with 12·5% interest compounded yearly. At the end of first year he paid ₹ 8,650 and at the end of second year ₹ 9,125. How much will he have to pay at the end of third year to clear the debt?

  1. (a)₹ 9,990
  2. (b)₹ 10,000
  3. (c)₹ 10,590
  4. (d)₹ 11,250
Show answer

UPSC key: (d)

Basic numeracy · Interest

2023

1 question

2023 · Q44

A principal P becomes Q in 1 year when compounded half-yearly with R% annual rate of interest. If the same principal P becomes Q in 1 year when compounded annually with S% annual rate of interest, then which one of the following is correct?

  1. (a)R = S
  2. (b)R > S
  3. (c)R < S
  4. (d)R ≤ S
Show answer

UPSC key: (c)

Basic numeracy · Interest

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