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