Quantitative aptitude for competitive examinations free. If you know time management then everything will be easier for you. Today i am going to share simple interest and compound interest tricks and shortcuts. Simple and compound interest tricks 1 governmentadda. Candidates from over all india can apply for the exam. Compound interest, as the name implies, is a little more complicated but this course explains the concept clearly and covers the methods used for calculating compound interest.
Simple interest simple interest tricks find amount. The ultimate course on simple interest and compound interest. First of all let us discuss the traditional method of solving simple interest question using the formula given below. Here in this page we give few examples on compound interest shortcut tricks. Simple interest and compound interest shortcut tricks compound interest the difference between the amount and the money borrowed is called the compound interest for given period of time. Cat aspirants are required to apply various formulas on simple interest and compound interest to solve various questions. Money borrowed by a borrower or the money lend by a lender is called the principal p. So the competitive level is goes on high every year. 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. In this video, we are going to learn simple interest concepts and. Tips, formulae and shortcuts for simple interest and compound. Interest that is earned on both the principal and any interest that has been earned previously. We use the basic formula for calculating compound interest. Find out the differences between simple and compound interest.
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. It focuses on the concepts like simple interest, compound interest, difference between simple interest and compound interest etc. 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. If the compound interest on a certain sum for two years at 10% p. Compound interest problems using shortcut tricks 1. While solving compound interest problems in percentage method, always we have to assume the principal amount p is 100% and compound interest ci is calculated based on time and rate of interest. Simple vs compound interest is not hard to understand. Generally, simple interest paid or received over a certain period is a fixed percentage of the principal amount that was borrowed or lent.
Simple interest and compound interest problems and. The interest for the first month is same in both simple interest and compound. Categories maths study material tags compound interest, mathprep, mathquestions, mathshortcuts, pdf, pdf download, simple interest, studymaterial, studynotes leave a comment post navigation official notice. It makes a deposit or loan grow faster as compared to simple interest. Simple interestcompound interest questions for ibps po, sbi po, niacl, nicl, lic, dena bank po pgdbf, boi, bank of baroda and other competitive exams. Simple interest and compound interest cat formulas pdf free download. The interest is added to the principal at the end of each period to arrive at the new principal for the next period. The fixed rate of the extra amount is called interest. Compound interest formulas, shortcuts and practice problems. Today i am sharing a pdf which contains tricks and shortcuts to solve one of the aptitude maths topic simple and compound interest.
The difference between compound interest and simple interest for 2 years is 631. May, 2020 simple interest and compound interest quant notes edurev is made by best teachers of quant. I is one of the easiest topics in cat quantitative section. Interest is the amount charged by the lender from the borrower on the principal loan sum. Simple interest and compound interest basic concepts and tricks. In exam you could also find problems that involve both simple and compound interest. The time for which it is borrowed or lent is called time period t. Few examples on simple interest and compound interest shortcuts is given in this page below.
Simple interest refers to an interest that is calculated as a percentage of the principal amount, whereas compound interest refers to an interest which is calculated as a percentage of principal and accrued. Here in the learn series we are updating the shortcut method of each topic section wise. The simple interest was never so simple in the books and now its our duty to provide you the solution for your maths problems. Exams like ibps, rrbs, rbi, ssc quantitative and aptitude will be awarded with 50 to 100 marks. Interest is money paid or earned for the use of money. Basically, simple interest is interest paid on the original principal only while compound interest is interest paid not only on the principal, but also on the interest previously earned. Simple interest and compound interest cat formulas pdf scribd. By using this simple trick on simple interest problems, we can able to solve any to any problem in this topic and get answers very quickly than using normal methods. Interest is the fixed amount paid on borrowed money.
Quantitative aptitudesimple and compound interest key. Aspirants can downloads quantitative aptitude pdf form below. Simple interest and compound interest archives ibps guide. For condition 1, a sum of money becomes x times in a years.
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. Sici questions for sbi poclerk, rbi grade b, syndicate bank, bob, ippb. Find the amount to be paid back on a loan of find the. If you have any queries, feel free to ask us in the below comment section. We will discuss the concepts of compound interest in this article and we will also understand the approach to solve the questions based on this topic. Compound interest is the interest calculated on the initial principal and the accumulated interest of previous periods of a deposit or loan. For example, say a student obtains a simpleinterest loan. Simple interest and compound interest shortcut tricks pdf. We cover an extremely useful set of compound interest shortcuts, tips, tricks, and results.
The difference between compound interest and simple interest for 2 years is. Simple interest simple interest and compound interest youtube. Simple interest is the interest paid at the end of the period. Simple interest and compound interest shortcut tricks.
When interest is calculated on the original principal for any length of time, it is called simple interest. Compound interest shortcuts and tricks ci formulae. The sum of the principal and interest is called the amount. Compound interest shortcut tricks math shortcut tricks. There are many competitive exams have come in recent years. Simple interest and compound interest shortcut tricks pdf download links are given at the end of the post. Rrb, 2009 the compound interest on a sum for 2 years is rs. Simple interest and compound interest basic concepts and. Formula for difference between the compound interest and simple interest for 2 years at r percent annual interest rate is pr100 2. Now, lets discuss the basic difference between simple interest and compound interest. Aptitude shortcuts and mind tricks to find simple interest and. The interest calculated every year on original principal, i. 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. In simple interest, the total amount would be 0 and in compound interest, the total amount would be 31.
Simple interest and compound interest tricks pdf bankexamstoday. 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. Compound interest problems with solutions for bank exams. Just click on the below button to view the shortcut method of each topic. A sum of money invested at compound interest amounts to 800 in 2yr and 840 in 3yrs.
Therefore, we have, pr100 2 631 substitute 10 for r. Ssc cgl previous year question paper free download. Simple interest formula prt compound interest formula ap1rnnt what is the difference between simple interest and compound interest. In the case of 3 years, then first calculate ci% for 2 years and then for the 3rd year. Compound interest is very significant topic in todays world. For example, the rate of interest is 10% per annum means the interest payable on rs 100 for one year is rs 10. Shortcut tricks on simple interest and compound interest are one of the most important topics in exams.
For example, 4000 dollars is deposited into a bank account and the annual interest rate is 8%. Simple interest and compound interest for all competitive exams theory. Important formulas and short cuts on simple interest. This course on simple interest and compound interest will cover all the theory and sample problems needed to master simple and compound interest for banking exams like ibps po, sbi po, ibps clerk, sbi clerk etc.
Compound interest question and answers with easy solutions in aptitude topic are present here. 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. Difference between the compound interest and the simple interest example. Compound interest t time in years r interest rate per year. Aptitude shortcuts and mind tricks to find simple interest and compound interest 1 free download as pdf file. Simple interest and compound interest problems shortcuts. There are understandable, simple solutions useful for rrb alp, group d and bank jobs. You can learn the shortcuts methods and formulas to solve questions based on. Simple interest and compound interest formulas for cat pdf.
Hi bankersdaily aspirants, aspirants,there are so many neophyte who are going to attempt the ibps exam first time. Simple interest and compound interest problems and solutions pdf. Shortcut tricks are very important things in competitive exam. Quantitative aptitude questions simple interest day37 march 12, 2018 quantitative aptitude questions simple interest and compound interest for sbi clerk 2018 day. Interest formulas mainly refer to the formulas of simple and compound interests. Simple interest when a sum of money is borrowed for a period, an extra amount has to be paid along with the borrowed money. Interest is defined as the cost of borrowing money or the rate paid on a deposit to. In this free online course you will learn why simple interest is called simple interest, how simple interest is used in daily life and how it is calculated. Simple interest and compound interest quant notes edurev. The extra money paid by the borrower to the lender is.
The interest is added to the principal at the end of each period to arrive at the new principal for the next. Daily 23 hrs practice of quantitative and aptitude makes, numerical ability and accuracy high. If rate of interest is r1% for first year, r2% for. If the difference between the compound interest and the simple interest on a certain sum of money at 5% per annum for 3 years is rs. Basic concepts and tricks for solving cat questions. Interest formulas for simple and compound interests with. As soon as you learn compound interest short tricks, you will be able to solve questions in just 5 sec. A12 appendix b financial literacy lesson tutorials b. In easy words, it can be said as interest on interest.
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