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Simple Interest and Compound Interest Shortcut Tricks

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Simple Interest and Compound Interest Shortcut Tricks

Shortcut tricks on simple interest and compound interest are one of the most important topics in exams. Time takes a huge part in competitive exams. If you know time management then everything will be easier for you. Most of us miss this thing. Few examples on simple interest and compound interest shortcuts is given in this page below. We try to provide all types of shortcut tricks on simple interest and compound 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 and compound interest.

First of all do a practice set on math of any exam. Choose any twenty math problems and write it down on a page. Do first ten maths using basic formula of this math topic. You also need to keep track of the time. Write down the time taken by you to solve those questions. Now read our examples on simple interest and compound interest shortcut tricks and practice few questions. After finishing this do remaining questions using simple interest and compound interest shortcut tricks. Again keep track of timing. This time you will surely see improvement in your timing. But this is not enough. You need to practice more to improve your timing more.

Few Important things to Remember

Math section in a competitive exam is the most important part of the exam. It doesn’t mean that other topics are not so important. You can get a good score only if you get a good score in math section. You can get good score only by practicing more and more. The only thing you need to do is to do your math problems correctly and 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 to do maths within time without using any shortcut tricks.

But, so many people can’t do this. Here we prepared simple interest and compound 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 so many needy.

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. And, this type of problem are given in Quantitative Aptitude which is a very essential paper in banking exam. So, below are some more example of Interest 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?

So, the concept of Principal is very simple. When money borrow for a certain time period called Principal or Sum.

 

What is Amount?
The Addition of Simple Interest and Principal is called Amount.
Amount (A) = Simple Interest (SI) + Principal (P).
Simple Interest (SI) = Amount (A) – Principal (P).

 

What is Per annual means?

Per annual means for a year.

 

Few general terms of Interest

  • P = Principal
  • R = Rate per annual
  • T = Number of years

 

Formulas Need to Remember

Formula #1
SI = ( P x T x R / 100 )
Here, P = Principal
R = Rate per annual
T = Number of years

 

Formula #2
In case of Simple Interest, Number of years and Rate per annul are given in question, then we can easily find the Principal or Sum.

P = ( SI x 100 / R x T )

 

Formula #3
Now, In case of Simple Interest, Number of years and Principal are given in question, then we can easily find the Rate per annual.

R = ( SI x 100 / P x T )

 

Example #1

Find the simple interest of Rs.500/- for 5 years at 5% per annum.

  1. Rs.75/-
  2. Rs.100/-
  3. Rs.125/-
  4. Rs.150/-

Show Answer Show How to Solve Open Rough Workspace

Answer: Option (C)
How to Solve
SI = 500 x 5 x 5 / 100

Simple interest in 5 years is Rs.125/-.

Rough Workspace

Example #2

In what time Rs.5000/- amounts to Rs.6000/- at 5% per annum at simple interest?

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

Show Answer Show How to Solve Open Rough Workspace

Answer: Option (B)
How to Solve
1000 = 5000 x 5 x T / 100
T = 4

So, in 4 years Rs.5000/- will increase to Rs.6000/-.

Rough Workspace

More Shortcut tricks on Simple and Compound Interest

 

Here, we provide few tricks on Simple interest and Compound interest. So, do visit this page to get updates on more Math Shortcut Tricks. You can also like our facebook page to get updates.

Also, if you have any question regarding this topic then please do comment on below section. You can also send us message on facebook.

53 comments

  1. chandan singh tulera says:

    i m a faculty of Quantative aptitude in a coaching institute in dehradun, i wants more tricks related to different topics ….. if any body have his own tricks or taken from somewhere else….. plz contact….. me ….or send it to my email id……chandan.tulera@gmail.com………….tricks should be ……. in a interval of 30 sec…..so that a question is to be solved under the interval of 30….sec…………………………………………………………………………………………….or can any one suggest me the books related to the tricks for aptitude or reasoning………

    Reply
  3. Somesh says:

    I have prepration for PO exam, I need more mathematical tricks for easy solve paper in exam.
    also want tricks for
    reasoning
    data interpretation
    numbering
    quantitative
    aptitude
    all above tricks for will usefull my exam….

    Reply
  7. ritika says:

    If a man lends money at s bt he includes interest every six months to calculate principal ,if he charges 10% interest then wht is effective rate of interest ???

    Reply
  8. Harshitha says:

    HI Please send me shortcut tricks about reasoning , quantative aptitude and data intrepretataion tricks because i m preparing for ibps exam

    Reply
  10. rohit yadav says:

    Sir plzzz help me in math plzzz send some tricks to my email id Plzzzzzzzzzzzzzzz,
    My email id is 1234yadavrohit@gamail.com
    Sir plzzzz send some fast tricks

    Reply
  16. pooja saini says:

    With a given rate of simple interest the ratio of principal and amount for a certain period of time is 4:5.after 3yrs with tthe same rate of interest the ratio of the principal and amount becomes 5:7.The rate of interest per annum is ???
    Solve it

    Reply
    • sujit swain says:

      let take p=100,
      then, amount(a)=125(since ratio is 4:5)
      hence,SI=125-100=25.
      then after 3 yr the ratio will b 5:7
      soo p=100,amount=140

      now in 3 yr SI=140-125=15
      i.e 3r=15
      r=5% (ans)

      Reply

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