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Find Simple interest based question

Find Simple interest based question

Shortcut tricks on simple interest are one of the most important topics in exams. 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. Few examples on simple interest shortcuts is given in this page below. We try to provide all types of shortcut tricks on simple interest here. Visitors are requested to carefully read all shortcut examples. These examples here will help you to better understand shortcut tricks on simple interest.

Before starting anything just do a math practice set. Then find out twenty math problems related to this topic and write those on a paper. Using basic math formula do first ten maths of that page. You also need to keep track of timing. Write down the time taken by you to solve those questions. Now practice our shortcut tricks on simple interest and read examples carefully. After doing this go back to the remaining ten questions and solve those using shortcut methods. Again keep track of Timing. This time you will surely see improvement in your timing. But this is not all you want. If you need to improve your timing more then you need to practice more.

You all know that math portion is very much important in competitive exams. That doesn’t mean that other sections are not so important. But only math portion can leads you to a good score. Only practice and practice can give you a good score. All you need to do is to do math problems correctly within time, and this can be achieved only by using shortcut tricks. Again it does not mean that you can’t do maths without using shortcut tricks. You may have that potential that you may do maths within time without using any shortcut tricks. But so many people can’t do this. Here we prepared simple interest shortcut tricks for those people. We always try to put all shortcut methods of the given topic. But if you see any tricks are missing from the list then please inform us. Your little help will help others.

When 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. So we can find the simple interest on Principal using some formula. 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.

Find Simple Interest using formula
Formula
SI = ( P x T x R / 100 )
Here, P = Principal
R = Rate per annual
T = Number of years

Example #1
What would be the simple interest of Rs.18600/- in 8 months at the rate of 22/2% per annum?

1. Rs.1663/-
2. Rs.2653/-
3. Rs.1837/-
4. Rs.1364/-

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How to Solve
8 months = 8 / 12 = 2 / 3
SI = 18600 x 2 x 22 x 1 / 3 x 2 x 100 = 1364

So, the Simple Interest of Rs.18600/- in 8 months would be Rs.1364/-.

Rough Workspace

Example #2
What would be the simple interest of Rs.20/- for 5 months at the rate of 6 paise per rupee per month?

1. Rs.3/-
2. Rs.6/-
3. Rs.8/-
4. Rs.10/-

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How to Solve
SI = 20 x 5 x 6 / 100 = 6

So, the Simple Interest of Rs.20/- for 5 months would be Rs.6/-.

Rough Workspace

Example #3
Find the simple interest of Rs.75000/- at 4% per annum for 4 years.

1. Rs.12000/-
2. Rs.14000/-
3. Rs.15500/-
4. Rs.20000/-

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How to Solve
Here, P = 75000
R = 4% per annum
T = 4 years

SI = ( P x T x R / 100 ) = 75000 x 4 x 4 / 100 = 12000

So, the Simple Interest of Rs.75000/- would be Rs.12000/-.

Rough Workspace

Example #4
On amount of Rs.7530/- at the rate of 18% per annum for 6 years. What will be the simple interest?

1. Rs.5000/-
2. Rs.6947.34/-
3. Rs.8132.40/-
4. Rs.9654.42/-

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How to Solve
SI = 7530 x 18 x 6 / 100 = 8132.40

So, the Simple Interest of Rs.7530/- would be Rs.8132.40/-.

Rough Workspace

Example #5
Find the time required for Rs.10000/- to turned into Rs.12000/- at the rate of 4% per annum at Simple Interest?

1. 3 Years
2. 4 Years
3. 5 Years
4. 7 Years

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How to Solve
We know that SI = ( 12000 – 10000 ) = 2000

SI = 10000 x 4 x T / 100
T = 10000 X 4 / 100 X 2000
T = 5

So, the time required for Rs.10000/- to turned into Rs.12000/- would be 5 years.

Rough Workspace

Example #6
What will be the ratio of simple interest earned by certain amount at the same rate of interest for 5 years and 7 years?

1. 2 : 3
2. 5 : 7
3. 7 : 5
4. 7 : 9

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How to Solve
Let, Principal P and Rate of interest be R%.
So, Required interest for 5 years is-
SI = P x R x 5 / 100 = 5PR / 100

Required interest of 7 years is-
SI = P x R x 7 / 100 = 7PR / 100

Required ration is-
5PR / 7PR = 5 / 7 = 5 : 7

So, Required Ration is 5 : 7.

Rough Workspace

Example #7
What would be the simple interest acquired by certain amount at the same rate of interest for 4 years and also that for 8 years?

1. 1 : 2
2. 2 : 1
3. 2 : 3
4. 3 : 4

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How to Solve
Let, principle is P and rate of interest is R%.
Time = 4 years and 8 years.

SI = P x R x 4 / 100 : P x R x 8 / 100
= 4PR / 8PR
= 4 / 8
= 1 : 2

Rough Workspace

Example #8
Find the simple interest of Rs.40000/- at 25/4% per annum for the period from 4th January, 2017 to 18th march, 2018.

1. Rs.300/-
2. Rs.400/-
3. Rs.450/-
4. Rs.500/-

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How to Solve
First of all we need to calculate the period of time taken.
i.e, January = (31 – 4) = 27 days,
February = 28 days,
March = 18 day.
Add all together ( 27 + 28 + 18 ) = 73 / 365 year = 1 / 5 years.

We know that, P= 40000 and R = 25/4% p.a.
SI = 40000 x 25 x 1 x 1 / 4 x 100 x 5 = 500

So, the Simple Interest of Rs.40000/- would be Rs.500/-.

Rough Workspace

Example #9
What would be the simple interest earned by certain amount at the same rate of interest for 4 years and that for 8 years?

1. 2 : 1
2. 1 : 2
3. 2 : 3
4. 3 : 2

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How to Solve
Let, the principal be P
Rate of interest be R%
Time is 4 years and 8 years

So, Required ratio is-
( P x R x 4 /100 ) / ( P x R x 8 /100 )
= 4 / 8
= 1 / 2
= 1 : 2

Rough Workspace

Example #10
What would be the simple interest of Rs.85000/- at 15% per annum for 8 month?

1. Rs.5500/-
2. Rs.7500/-
3. Rs.8500/-
4. Rs.10000/-

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How to Solve
SI = 85000 x 2 x 15 / 3 x 100 = 8500.

So, the Simple Interest of Rs.85000/- would be Rs.8500/-.

Rough Workspace

Example #11
What would be the simple interest earned on an amount of Rs.18600/- in 8 months at the rate of 18/2% per annum?

1. Rs.1116/-
2. Rs.1673/-
3. Rs.2176/-
4. Rs.2723/-

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How to Solve
SI = 18600 x 2 x 1 x 18 / 3 x 100 x 2 = 1116.

So, the Simple Interest earned of Rs.18600/- in 8 months would be Rs.1116/-.

Rough Workspace

Example #12
What would be simple interest of Rs.1850/- from 2nd April to 14 June 2017 at the rate of 10% per annum?

1. Rs.37/-
2. Rs.42/-
3. Rs.46/-
4. Rs.49/-

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How to Solve
2nd April to 14 June 2017 = ( 28 + 31 + 14 ) = 73 Days = 1/5 Years.

SI = 1850 x 1 x 10 / 5 x 100
= 37

So, the Simple Interest of Rs.1860/- would be Rs.37/-.

Rough Workspace

Example #13
If Rs.75/- amounts to Rs.90/- in 2 years. What would be Rs.120/- amounts to in 6 years at the same time rate percent per annum?

1. Rs.150/-
2. Rs.175/-
3. Rs.185/-
4. Rs.192/-

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How to Solve
P = 75,
So, SI = ( 90 – 75 ) = 15, and time = 2 years
So, rate = ( 100 x 15 ) / ( 75 x 2 ) = 10%.

P = 120,
R = 10%
Time = 6 years

So, SI = 120 x 10 x 6 / 100 = 192

So, by Simple Interest Rs.120/- would tunes into Rs.192/- in 6 years.

Rough Workspace

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1. syamsundar says:

sir in quetion 13 r=15*100/75*2 y we dnt take the 2 in denominator

2. shubham says:

question no 12 and 13 are wrong plz chek once a time

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4. mahesh kakkera says:

thanks for providing simple tricks

5. Ritesh pathak says:

Well 12 & 13 both solutions are right ……. But there is problem in Q.8 ……either question is wrong acc. To your solution or solution is weong acc. To question

1) If question is wrong then there should be 18 march 2018 instead of 18 march 2017.

2) if question is right then T should be 438/365 instead of 73/365 .

Tq