Shortcut tricks on simple interest and compound interest are one of the most important topics in exams. Competitive exams are all about time. If you manage your time then you can do well in those exams. Most of us skip that part. Here in this page we give few examples on Simple Interest and Compound Interest shortcut tricks. We try to provide all types of shortcut tricks on simple interest and compound interest here. We request all visitors to read all examples carefully. These examples will help you to understand shortcut tricks on Simple Interest and Compound Interest.
Now we will discuss some basic ideas of Simple Interest and Compound Interest. On the basis of these ideas we will learn trick and tips of shortcut simple interest and compound interest. If you think that how to solve simple interest and compound interest questions using simple interest and compound interest shortcut tricks, then further studies will help you to do so.
What is Interest ?
When some one take up some money from other for the personal or commercial purpose we pay some additional money to him after a certain period of time is called Interest. So we can also called this Interest as Simple Interest. This type of problem are given in Quantitative Aptitude which is a very essential paper in banking exam. Under below given some more example for your better practice.
Anything we learn in our school days was basics and that is well enough for passing our school exams. Now the time has come to learn for our competitive exams. For this we need our basics but also we have to learn something new. That’s where shortcut tricks are comes into action.
What is Principal ?
When money borrow for a certain time period called Principal or Sum.
What is Amount ?
The Addition of Simple Interest and Principal is called the Amount.
A = S.I + P ( Principal ).
S.I = A ( Amount ) – P ( Principal ).
What is Per annul means ?
Per annul means For a year.
- P =PrincipalR = Rate of per annulT = Number of years
When we Add Simple Interest into Principal. It becomes into Amount.
- Formulas Need to RememberS.I =( P X R X T / 100 )Here, P =Principal.R = Rate per annul.T = Number of years.
Formula:
In case S.I ( Simple Interest ), T ( Number of years ) and R (Rate per annul ) are given in Question then we can easily find the Principal or Sum.
P = ( S.I X 100 / R X T ).
Formula:
In case S.I ( Simple Interest ), T ( Number of years ) and P (Principal ) are given in question then we can easily find the R (Rate per annul ).
R = ( S.I X 100 / P X T ).
Example 1:
Find the simple interest on Rs 500 for 5 years at 5 per cent ?
Answer :
SI = 500 x 5 x 5 / 100
Simple interest in 5 years is Rs 125.
More Shortcut tricks on Simple and Compound Interest
- Find Simple interest based question
- Find The rate % based question
- Find Principle or Sum based question
- Compound Interest shortcut tricks Read More…
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