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?

Answer
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/-.

 

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

Answer
SI = 20 x 5 x 6 / 100 = 6

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

 

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

Answer
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/-.

 

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

Answer
SI = 7530 x 18 x 6 / 100 = 8132.40

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

 

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

Answer
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.

 

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

Answer
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.

 

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?

Answer
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.

 

Example #8
Find the simple interest of Rs.40000/- at 25/4% per annum for the period from 4th January, 2016 to 18th march, 2017.

Answer
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/-.

 

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?

Answer
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

 

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

Answer
SI = 85000 x 2 x 15 / 3 x 100 = 8500.

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

 

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?

Answer
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/-.

 

Example #12
What would be simple interest of Rs.1860/- from 2nd April to 21 June 2017 at the rate of 20/2% ?

Answer
2nd April to 21 June 2014 = ( 28 + 31 + 21 ) = 80 days.

SI = 1860 x 20 x 1 x 20 / 2 x 100 x 3
= 1240

So, the Simple Interest of Rs.1860/- would be Rs.1240/-.

 

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?

Answer
P = 75,
So, SI = ( 90 – 75 ) = 15, and time = 2 years
So, rate = 100 x 15 / 75 = 20%.

P = Rs. 120,
R = 20%
Time = 6 years

So, SI = 120 x 20 x 6 / 100 = 144

So, by Simple Interest Rs.120/- would tunes into Rs.144/- in 6 years.
 

 

More Shortcut tricks on Simple and Compound Interest

 

We provide few shortcut tricks on this topic. Please visit this page to get updates on more Math Shortcut Tricks. You can also like our facebook page to get updates.

If You Have any question regarding this topic then please do comment on below section. You can also send us message on facebook.

4 comments

  1. Johnb672 says:

    Someone necessarily help to make seriously articles I’d state. This is the very first time I frequented your website page and up to now? I surprised with the research you made to create this particular publish extraordinary. Fantastic process! afbcekggdgfg

Leave a Reply