Jun 06, 2017 simple and compound interest formulas are very important as every year significant number of questions are asked in the ibps po banking exam every year. Interest is the fixed amount paid on borrowed money. Application sums approximation aptitude tricks average basic concepts boats and streams caselet data. Download and learn this formulas pdf will help you, as the most of the questions from. Quantitative aptitudesimple and compound interest key. In the case of 3 years, then first calculate ci% for 2 years and then for the 3rd year. Simple interest and compound interest problems are very important in all entrance exams. Compound interest formulas, shortcuts and practice problems. The rate of interest for the first year is 5% and of second year is 15%. As we all know in many competitive exams like ssc, railways, banking, fci, cwc. Simple interest is an easy method of calculating the interest for a loanprincipal amount. Compound interest question and answers with easy solutions in aptitude.
Simple interest and compound interest for all competitive exams theory. Money borrowed by a borrower or the money lend by a lender is called the principal p. Simple interest and compound interest problems and solutions. Simple interest and compound interest tricks pdf bankexamstoday. Candidates from over all india can apply for the exam. Download and learn this formulas pdf will help you, as the most of the questions from this topic can be directly solved from this formulas. In every exam you will get at least 34 questions from this topic.
Simple and compound interest aptitude questions and. In the competitive exams, there are two ways to calculate the interest, first is simple interest and second is compound interest. If the interest is calculated once a year then the interest is called simpl e interest. As soon as you learn compound interest short tricks, you will be able to solve questions in just 5 sec. How much will it cost him if he pays the amount after two years. He invested the remaining in a fund that paid compound interest, interest being compounded annually, for the same 2 years at the same rate of interest received rs. Shortcut tricks on simple interest and compound interest are one of the most important topics in exams. Simple interest problems or questions with solutions covered for all competitive exams like bank exams, interviews and quizzes. A sum of money invested at compound interest amounts to 800 in 2yr and 840 in 3yrs. Simple interest when a sum of money is borrowed for a period, an extra amount has to be paid along with the borrowed money. There are many competitive exams have come in recent years. Simple interest and compound interest shortcut tricks.
In this chapter, you will get introduced with the concept of compound interest. The extra money paid by the borrower to the lender is called the interest. Exams like ibps, rrbs, rbi, ssc quantitative and aptitude will be awarded with 50 to 100 marks. The formulas given below will be useful to solve problems on simple interest. The time for which it is borrowed or lent is called time period t. Compound interest and simple interest solved examples. Compound interest problems with answers and solutions are presented free practice for sat, act and compass maths tests. Compound interest problems using shortcut tricks 1. Nov, 2017 simple interest and compound interest tricks pdf ques 1. Aug 09, 2017 simple interest is one of the easiest but tricky topic in aptitude.
Today i am going to share simple interest and compound interest tricks. Jan 08, 2018 simple interest compound interests problem with explanations vidya reddy january 8, 2018 april 2, 2020 aptitude and reasoning 0 quantitative aptitude simple compound interest practice problem with solution. When interest is calculated on the original principal for any length of time, it is called simple interest. In some cases, of the compound interest, the interest varies according to time. Aspirants can downloads quantitative aptitude pdf form below. Here we are sharing the full notes of compound and simple interest along with the practice questions with full detailed solutions to grab you the. Simple and compound interest problems with solutions pdf. Compound interest problems with solutions for bank exams. The third kind of question provides us with the simple interest for a sum of money and then asks us to compute the compound interest for the same parameters meaning the same rate of interest and time. The sum of the principal and interest is called the amount. Solutions for sbi clerk simple interest and compound interest questions pdf.
Consider that the simple interest on a sum is inr 1600 when the. If you borrow from the bank to buy a car, the bank will charge you interest for its use. Simple interest and compound interest problems and. Simple and compound interest formulas are very important as every year significant number of questions are asked in the ibps po banking exam every year. Always examine the answer choices for clues and look for opportunities to work backwards. What is the difference between the compound interest and simple interest accrued on an amount of rs 12000 at the end 3 yr at the rate of 12%. If the compound interest on a certain sum for two years at 10% p. This is very useful for the upcoming competitive exams like ssc cgl, bank, railways, rrb ntpc, lic aao, and many other exams. Compound interest is the difference between the original principal and final amount. Extremely helpful to crack entrance exams like mba, banking. These mcqs are also very helpful to solve quantitative aptitude problems in various competitive exams like. It is the interest which is calculated not only on the principal amount invested but also on the interest earned in previous periods. Compound interest question pdf for ssc, railway exam. Sbi clerk simple and compound interest questions and answers.
In this section, we are going to learn, how to solve problems on simple interest step by step. Aptitude questions and answers for freshers on simple and compound interest. From the past years exam trends, we have uncovered that there are three main types of questions that can come from the simple and compound interest chapter for your banking examinations. Jul 23, 2017 if the compound interest on a certain sum for two years at 10% p. If the difference between simple interest and compound interest on a certain sum of money in 2 years at 20 % p. Icse class 8 maths selina solutions chapter 9 simple and compound interest. Jun 24, 2018 simple and compound interest questions are merged with percentage concepts in exams so to solve simple and compound interest questions, knowledge of percentage concepts are extremely important. Problems in this topic needs more focus on percentage.
If you know time management then everything will be easier for you. When a person or bank lends money to a borrower, the borrower usually has to pay an extra amount of money to the lender. If you open a savings account at the bank, the bank will pay you interest for as long as the account is open. Oct 29, 2019 shortcut tricks on simple interest and compound interest are one of the most important topics in exams.
Simple interest and compound interest problems and solutions pdf. Learn and free practice simple interest sums with formulas, shortcuts and useful tips. Find the compound interest on a principal amount of rs. Simple and compound interest questions are merged with percentage concepts in exams so to solve simple and compound interest questions, knowledge of percentage concepts are extremely important. And it will become very easy for you guys to revise them. Before going to the simple interest and compound interest problems, you should revise the simple and compound interest formulas. In the earlier classes, you have learned about the simple interest. This pdf is provided to make you the master of the topic. There are understandable, simple solutions useful for rrb alp, group d and bank jobs. Compound interest questions is an an essential part for competitive exams like banking, insurance, ssc and railways exams. Simple interest plays a key role in interest and investment problems. Simple interest questions is an an essential part for competitive exams like banking, insurance, ssc and railways exams. Simple and compound interest problems for bank exams rbi. The extra money paid by the borrower to the lender is.
Simple interest is a concept which is used in most of the sectors such as banking, finance, automobile, and so on. Jan 24, 2020 this is very useful for the upcoming competitive exams like ssc cgl, bank, railways, rrb ntpc, lic aao, and many other exams. These mcqs are also very helpful to solve quantitative aptitude problems in various competitive exams like upsc, nda, bank po etc. Find the amount to be paid back on a loan of find the. Simple interest and compound interest archives ibps guide. Selina solutions class 8 concise maths chapter 9 simple.
I nterest is the additional money paid for the usage of a certain amount. Problems on simple interest and compound interest for bank. Daily 23 hrs practice of quantitative and aptitude makes, numerical ability and accuracy high. This pdf of simple interest is helpful for your competitive exams like ibps po, rrb, clerk, sbi po, cat and your placement programs. Want to become a bank, railway or govt officer in 2020. Simple interest and compound interest practice problems. Simple interest is the interest paid at the end of the period. It also provides questions and answers, problems with solutions on simple and compound interest.
Simple interest is one of the easiest but tricky topic in aptitude. Simple interest problems interest is money paid for the use of money. Simple interest and compound interest tricks pdf ques 1. Ajay invested half of his savings in a mutual fund that paid simple interest for 2 years and received rs.
As we know that same for some time but some cases its different from simple interest. After revising the formulas you will understand the following examples. Both chapters are important from the perspective of ssc and banking exams. So the competitive level is goes on high every year. Compound interest questions or problems with solutions, covered for all bank exams, competitive exams, interviews and entrance tests.
There are understandable, simple solutions useful for rrb alp, group d and bank. Therefore, in this blog, we shall look at each type and complete our understanding with an example and its solution. This pdf of simple interest is helpful for your competitive exams like ibps po. Rrb, 2009 the compound interest on a sum for 2 years is rs. Sbi clerk simple interest and compound interest questions pdf. Quantitative aptitude for competitive exams fdaytalk. Few examples on simple interest and compound interest shortcuts is given in this page below. The fixed rate of the extra amount is called interest. Compound interest is similar to the simple interest shortcut tricks. Simple interest problems and solutions for bank exams.