In every competitive exam ibps bank exams, sbi clerks, ssc, insurance exams, quantitative aptitude section is important and some questions 1 or 2 problems will be asked from simple interest and compound interest, so learn some shortcuts in solving these type of problems. There are many competitive exams have come in recent years. Aug 03, 2017 compound interest problems aptitude shortcuts and tricks find rate of interest by shortcut. This fixed period may be a year, six months, three months or a month and correspondingly the rate of interest is charged annually, half yearly, quarterly or monthly. To help in your preparation we are providing you some useful formulas and shortcut methods so that you can quickly solve the questions in minimum amount of time. Click here just go through this trick and you will be going to understand simple and compound interest topic easily and can answer within 20 seconds. Simple interest and compound interest tricks youtube. Various applications and formulas based on this concept are explained here. In exam you could also find problems that involve both simple and compound interest. If you make no withdrawals or deposits in the next 10 years, how much is the account worth. Compound interest shortcut methods and concept in quantitative aptitude which can be useful for competitive exams like bank po, ssc, ibps, cat, csat, cmat etc.
More generally, we invest the principal, p, at an interest rate r for a number of periods, n, and receive a final sum, s, at the end. You can see the explanation for the questions of sensation and a good user. Problems in this topic needs more focus on percentage. Simple and compound interest problems with solutions pdf. Interest interest is the amount of money paid for the use of borrowed capital or the income produced by money which has been loaned.
These examples here will help you to better understand shortcut tricks on simple interest and compound interest. We cover an extremely useful set of compound interest shortcuts, tips, tricks, and results. This is the duration for which money is lend borrowed. 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. Compound interest problems aptitude shortcuts and tricks. Write a compound interest function to model the situation.
Learn important compound interest shortcuts and tricks that you can used in aptitude exams to solve problems based on compound interest. I is one of the easiest topics in cat quantitative section. Today, we are going to discuss a very interesting topic simple and compound interest. Learn about simple and compound interest investopedia. Nov, 2019 find out the differences between simple and compound interest. On the other hand, whenever the interest becomes due for payment, it is added to the principal, on which interest for the succeeding period is reckoned, this is known as compound interest. Then find the balance after the given number of years. The difference between simple interest and compound interest on a sum for 2 years at 8% when the interest is compounded annually is rs.
We earn not only interest, but interest on the interest already paid. Using the formula for finding the compound interest involves use of concepts like indices, adding. Below are some examples of simple and compound interest. Important formulas and short cuts on simple interest. Interest that is earned on both the principal and any interest that has been earned previously. For example, 4000 dollars is deposited into a bank account and the annual interest rate is 8%. A sum of money lent out at simple interest amounts to rs. Compound interest is one of the toughest chapter which leaves candidates a bit confused and most of the aspirants leave these questions untouched. Interest formulas mainly refer to the formulas of simple and compound interests. Lesson 2 compound interest an investment earns compound interest when the interest from each time period is added to the principal, and then earns interest in the following time periods. Simple and compound interest 8 home austin partners in. Indianstudyhub offers many fully rrb ntpc compound interest.
Learn the important and tricks to solve questions based on compound interest. Compound interest shortcuts compound interest ci questions can be solved in less than 20 secs using these smart and shortcut tricks on compound interest. By the end of it, we shall be familiar with the basic formulas used for the calculation of simple and compound interest and their practical applications. 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.
We receive interest when we let others use our money for example, by depositing money in a savings account or making a loan. Simple, compound, and continuous interests main concept interest is the price paid for the benefit of borrowing money for a certain period of time. Simple and compound interest tricks for bank po youtube. The method used to solve the problem will depend on what we are trying to find. He will invest part at 9% annual interest and the remaining part at 12% annual interest. Jun 20, 2017 aptitude made easy simple interest part 1, basics and methods, shortcuts, tricks. Free practice test on simple interest and compound interest online, page 1 online mock test free try simple interest and compound interest online mock test for free multiple choice question answers simple interest and compound interest mcqs on simple interest and compound interest online mock test latest simple interest and compound interest. If simple interest is paid, interest is calculated only on the principal. Jun 27, 2019 simple interest is only based on the principal amount of a loan, while compound interest is based on the principal amount and the accumulated interest. The basic idea is that after the first interest period, the amount of interest is added to the principal amount and then the interest is computed on this higher principal. Show only anchor point property for lights and cameras, point of interest. In this article, we pick up from where we left in the previous article and cover compound interest shortcuts that you can employ in exams. First of all let us discuss the traditional method of solving simple interest question using the formula given below. Compound interest versus simple interest investopedia.
P principal or amount of money deposited r annual interest rate in decimal form n number of times compounded per year t. Finding p finding i interest rate per period aunt freda leaves thelma a legacysome deposit stock that was invested for ten years at 11% p. Simple and compound interest definitions, explanations. Iprt and the total amount including interest would be. So, simple interest is the sum paid for using the borowed money, for a fixed period. Interest formulas for simple and compound interests with. Now, lets discuss the basic difference between simple interest and compound interest. Simple interest i 5 100 prn compound interest a 5 1 100 p r n 1 final amount i 5 a 2 p interest where p is the principal r is the interest rate per period expressed as a percentage n is the number of periods use 1 year 5 52 weeks 5 365 days. For example, the rate of interest is 10% per annum means the interest payable on rs 100 for one year is rs 10. To find compound interest for two years, when simple interest is given.
Typically, the amount of interest is expressed as a certain fraction or percentage, of the principal amount. Applications of the compound interest formula quite often, three of the variables used in the compound interest formula are known and the fourth needs to be found. Preset and customizable keyboard shortcuts in after effects. Free practice test on simple interest and compound interest. Compound interest is very significant topic in todays world. 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. The future value tables are widely used in accounting and finance to save time and avoid unnecessary computations. Difference between simple interest and compound interest. The above examples are just few types based on compound interest, there could be numerous others complex and difficult questions that could come in the cat exam. The interest earned grows, because the amount of money it is applied to grows with each payment of interest. Simple interest and compound interest shortcut tricks pdf. Simple interest topic plays an important role in ssc cgl examination and around two to three questions are frequently asked which generally range from being moderate to difficult.
Aptitude test 65 questions with explanation pdf free download questions and answers with explanations. If the difference between the compound interest and simple interest on a certain sum of. We cover an extremely useful set of compound interest shortcuts. Compound interest interest calculated on the initial principal and also on the. So, here in this article, you will find the basic differences between simple interest and compound interest, which we have. Simple interest questions is an an essential part for competitive exams like banking, insurance, ssc and railways exams.
Cat aspirants are required to apply various formulas on simple interest and compound interest to solve various questions. Today i am sharing a pdf which contains tricks and shortcuts to solve one of the aptitude maths topic simple and compound interest. Compound interest part1 in telugu compound interest tricks. So the competitive level is goes on high every year. Important short tricks to solve compound interest questions. In this website we provide few shortcut methods on simple interest and compound interest shortcut tricks.
In course 3, students are introduced to compound interest using the formula. Interest is defined as the cost of borrowing money or the rate paid on a deposit to an investor. The addition of simple interest and principle is called the amount. Compound interest question with solution free pdf compound interest ci question asked in previous year exam. Simple and compound interest problems with shortcut. It is determined by multiplying the interest rate by the principal by the number of periods. Simple interest and compound interest for all competitive exams theory. This pdf is not related to mynotesadda and if you have any objection over this pdf, you can mail us at email protected tags. Then, they practice calculating simple interest using the 3 realworld examples. First of all do a practice set on math of any exam. Find out the differences between simple and compound interest.
It is money paid by borrower for using the lenders money for a specified period of time. Simple interest and compound interest by ramandeep singh page 5 5. 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. Simple interest and compound interest tricks for bank po, sbi po and ssc cgl part 4 in hindi by study smart. When you deposit money into an interest bearing account, or take out a line of credit, the interest that accumulates is added. Simple interest and compound interest shortcut tricks. Aptitude made easy simple interest part 1, basics and. Interest is the extra money paid by the borrower to the owner lender as a form of compensation for the use of the money borrowed calculated on the basis of principle. 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.
The rate of interest is same for both compound interest and simple interest and it is compounded annually. Simple interest and compound interest formulas for cat pdf. Simple and compound interest formulae, concepts and shortcuts. Welcome to the lets study together online free pdf section. Simple and compound interest worksheet 1 write as decimals. This video deals with part 1 of compound interest lucidly explained with basic concepts and shortcuts in telugu. The compound interest on a certain sum for 2 yrs is rs 40. The difference between the compound and simple interest for 3 years will be. A complete list of keyboard shortcuts that are available in adobe after effects. Short cut methods to easily solve simple and compound interest problems short cut methods to easily solve simple and compound interest problems.
Simple interest and compound interest basic concepts and. In exams we dont have time to calculate on paper with formulas. Compound interest shortcut tricks math shortcut tricks. Interest is the fixed amount paid on borrowed money. Simple interest simple interest tricks simple interest. Compound interest problems with solutions for bank exams. To make the chapter easy for you all, we are providing you all some important short tricks to solve compound interest questions which will surely make the chapter easy for you all. The difference between compounding interest and simple interest. Money borrowed by a borrower or the money lend by a lender is called the principal p. Simple and compound 8 interest interest is the fee paid for borrowed money.
Today i am going to share the basics and shortcut methods of simple and compound interest. Hi friends, in this post we are about to learn how to calculate simple interest and compound interest with some short tricks. The sum lent is called the principal the sum of the principal and interest is called the amount interest. Mar 04, 2018 simple interest notes in hindi for ssc, simple interest questions and answers in hindi, simple interest and compound interest formula in hindi pdf, simple interest questions and answers pdf, compound interest tricks pdf, simple and compound interest in hindi. The formula necessary to solve simple interest problems is. S imple interest and compound interest formula shortcuts pdf, s imple interest and compound interest formula with examples, compound interest questions pdf download, simple and compound interest worksheet pdf, simple interest and compound interest problems and. Simple interest compound interest problems with solutions pdf download. Compound interest question pdf for ssc, railway exam. A l ittle reflection will show that the difference between the simple and compound interests for 2 yrs is the interest on the first years interest. The time for which it is borrowed or lent is called time period t. If you know time management then everything will be easier for you. Simple interest and compound interest problems and solutions pdf. Simple interest and compound interest shortcut tricks pdf download links are given at the end of the post. The papers for banking and ssc exams may focus on the one or the other concept related to banking and commerce.
Simple interest and compound interest shortcuts with examples. A 5 p1 1 rt where a represents the amount of money in the account at the end of the time period, p is the principal, r is the annual interest rate, and t is the time in years. Candidates from over all india can apply for the exam. Compound interest in the real world, simple interest is rarely used. Simple interest and compound interest complete concept with. Compound interest shortcut tricks shortcut tricks are very important things in competitive exam. Solving compound interest problems to solve compound interest problems, we need to take the given information at plug the information into the compound interest formula and solve for the missing variable. You can drag keys in the keyboard layout onto a command in the command list to assign them to the.