UPSC CSE Prelims CSAT (Paper II) previous year questions on Simple Interest and Compound Interest (Quantitative Ability), asked from 2018–2023, with answers. There are 2 questions in this post. Attempt each question, then click Show Answer to check.
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1] 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? [2023/44]
(a) R = S
(b) R > S
(c) R < S
(d) R <= S
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Ans: (c) R < S
2] A person bought a refrigerator worth Rs. 22,800 with 12.5% interest compounded yearly. At the end of first year, he paid Rs. 8,650 and at the end of second year Rs. 9,125. How much will he have to pay at the end of third year to clear the debt? [2018/69]
(a) Rs. 9,990
(b) Rs. 10,000
(c) Rs. 10,590
(d) Rs. 11,250
Show Answer
Ans: (d) Rs. 11,250
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