Shortcut Tricks are very important things in competitive exam. Time is the main factor in competitive exams. If you know time management then everything will be easier for you. Most of us miss that part. Here in this page we give few examples on Compound Interest shortcut tricks. These shortcut tricks cover all sorts of tricks on Compound Interest. We request all visitors to read all examples carefully. These examples here will help you to better understand shortcut tricks on compound interest.
Before starting anything just do a math practice set. Write down twenty math problems related to this topic on a page. Solve first ten math problems according to basic math formula. You also need to keep track of the time. After finish write down total time taken by you to solve those ten maths. Now go through our page for compound interest shortcut trick. After finishing this do remaining questions using Compound Interest shortcut tricks. Again keep track of Timing. You will surely see the improvement in your timing this time. But this is not enough. You need to practice more to improve your timing more.
Some important formula of Compound Interest
In Compound Interest problems asked in exams up to the period of 3 years.
In case we apply basic formula: Amount =Principal ( 1 + r / 100 )n here r = Rate and n = Time
As consider if Principal is Rs. 1, then the it will be in first year and second and third years.
( 1 + r / 100 )1
( 1 + r / 100 )2
( 1 + r / 100 )3
If the rate of interest is 3%, then the value will be …….
In first year = (23 / 21 ) = 23 / 21.
In second year = ( 23 / 21 )2 = 529 / 441.
In Third year = ( 23 / 21 )3 = 12167 / 9261.
Before starting anything just do a math practice set. Write down twenty math problems related to this topic on a page. Solve first ten math problems according to basic math formula. You also need to keep track of the time. After finish write down total time taken by you to solve those ten maths. Now go through our page for compound interest shortcut trick. After finishing this do remaining questions using Compound Interest shortcut tricks. Again keep track of Timing. You will surely see the improvement in your timing this time. But this is not enough. You need to practice more to improve your timing more.
Some important formula of Compound Interest
- A = Amount.
P = Principal.
R = Rate of Interest.
N = Number of Years.
- Type I : Interest compounded yearly :
A = P ( 1 + r / 100 )n
- Type II : Interest compounded half – yearly :
Amount = P [ 1 + r / 2 / 100 ]4n or = P = [ 1 + r / 200 ] 2n
- Type III : Interest compounded quarterly :
Amount = P [ 1 + r / 4 / 100 ] or = P [ 1 + r / 400 ] 4n
In Compound Interest problems asked in exams up to the period of 3 years.
In case we apply basic formula: Amount =Principal ( 1 + r / 100 )n here r = Rate and n = Time
As consider if Principal is Rs. 1, then the it will be in first year and second and third years.
( 1 + r / 100 )1
( 1 + r / 100 )2
( 1 + r / 100 )3
If the rate of interest is 3%, then the value will be …….
In first year = (23 / 21 ) = 23 / 21.
In second year = ( 23 / 21 )2 = 529 / 441.
In Third year = ( 23 / 21 )3 = 12167 / 9261.
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