What is Interest?
When Borrowed 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.
What is Principle?
The money borrowed for a certain time period called Principle or Sum.
What is Amount?
The Addition of Simple Interest and Principle is called the Amount.
A = S.I + P ( Principle ).
S.I = A ( Amount ) - P ( Principle ).
What is Per annum means?
Per annum means For a year.
P = Principle
R = Rate of per annum
T = Number of years
When we Add Simple Interest into Principle.It becomes into Amount.
Formulas Need to Remember
S.I =( P X R X T / 100 ).
Here, P = Principle.
R = Rate per annum.
T = Number of years.
Formula:
In case S.I ( Simple Interest ), T ( Number of years ) and R (Rate per annum ) are given in Question then we can easily find the Principle or Sum.
P = ( S.I X 100 / R X T ).
Formula:
In case S.I ( Simple Interest ), T ( Number of years ) and P ( Principle ) are given in question then we can easily find the R (Rate per annum ).
R = ( S.I X 100 / P X T ).
Here is some Simple interest and Comound interest sub link of Examples which help you better understanding.
More Shortcut tricks on Simple and Compound Interest
We provide few tricks on Simple interest and Compound interest. 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.
When Borrowed 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.
What is Principle?
The money borrowed for a certain time period called Principle or Sum.
What is Amount?
The Addition of Simple Interest and Principle is called the Amount.
A = S.I + P ( Principle ).
S.I = A ( Amount ) - P ( Principle ).
What is Per annum means?
Per annum means For a year.
P = Principle
R = Rate of per annum
T = Number of years
When we Add Simple Interest into Principle.It becomes into Amount.
Formulas Need to Remember
S.I =( P X R X T / 100 ).
Here, P = Principle.
R = Rate per annum.
T = Number of years.
Formula:
In case S.I ( Simple Interest ), T ( Number of years ) and R (Rate per annum ) are given in Question then we can easily find the Principle or Sum.
P = ( S.I X 100 / R X T ).
Formula:
In case S.I ( Simple Interest ), T ( Number of years ) and P ( Principle ) are given in question then we can easily find the R (Rate per annum ).
R = ( S.I X 100 / P X T ).
Here is some Simple interest and Comound interest sub link of Examples which help you better understanding.
More Shortcut tricks on Simple and Compound Interest
We provide few tricks on Simple interest and Compound interest. 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.
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