Problems on simple interest and compound interest for bank exams

Jul 23, 2017 the difference between the compound and simple interest for 3 years will be. We will define the concept of simple interest and use these formulae and definitions to solve questions that we expect will come from. The future value tables are widely used in accounting and finance to save time and avoid unnecessary computations. In this section, we are going to learn, how to solve problems on simple interest step by step.

Compound interest problems with answers and solutions are presented free practice for sat, act and compass maths tests. Before going to the simple interest and compound interest problems, you should revise the simple and compound interest formulas. The same formula can be required to be inserted in various forms or ways. Interest formulas for simple and compound interests with. 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. Dear students, we are providing new questions of compound interest problems for bank exams so the aspirants can practice it on a daily basis. The extra money paid by the borrower to the lender is called the interest.

Quantitative aptitudesimple and compound interest key. Learn and free practice simple interest sums with formulas, shortcuts and useful tips. Money borrowed by a borrower or the money lend by a lender is called the principal p. Simple and compound interest aptitude questions and. Any one can solve simple interest and compound interest questions that are asked in competitive exams using two basic formulas of s. Problems on compound interest with solutions for bank exams. There are many competitive exams have come in recent years. In quantitative aptitude, usually all the topics are same, never changed for exam to exam. Few examples on simple interest and compound interest shortcuts is given in this page below.

The papers for banking and ssc exams may focus on the one or the other concept related to banking and commerce. The simple interest on a certain sum of money for 2 1 2 years at 12% per annum is rs. So, here are problems on compound interest with solutions with the different ways which takes more time to solve. Today i am providing 35 important questions fopr bank exams. These questions are framed by our educational experts after researched your needs thoroughly. Simple interest and compound interest tricks pdf bankexamstoday. Simple interest and compound interest onlinemath4all. Simple and compound interest definitions, explanations. Simple interest and compound interest questions for bank exam. The principal in simple interest and compound interest must be same. Compound interest formulas, shortcuts and practice problems. You have learned simple interest and compound in your high schools. The time for which it is borrowed or lent is called time period t.

Problems on simple interest and compound interest for bank. Simple interest compound interest questions for ibps po, sbi po, niacl, nicl, lic, dena bank po pgdbf, boi, bank of baroda and other competitive exams. This pdf of simple interest is helpful for your competitive exams like ibps po, rrb, clerk, sbi po, cat and your placement programs. While solving simple interest problems by using the percentage method, always assume principle p 100%. These mcqs are also very helpful to solve quantitative aptitude problems in various competitive exams like upsc, nda, bank po etc. Compound interest is similar to the simple interest shortcut tricks. Simple interest and compound interest problems are very important in all entrance exams. Attempt compound interest quiz online for bank and cgl tier 2 exams. Compound interest aptitude questions compound interest is the difference between the original principal and final amount. In the simple interest questions, you have to calculate interest according to the time and rate whereas, in compound interest questions you have to add interest to the principal sum of deposit, or in other words, interest on interest. Simple interest and compound interest problems and solutions pdf. In simple interest, the principal remains constant while in the case of compound interest the principal changes due to the effect of compounding. In the competitive exams, there are two ways to calculate the interest, first is simple interest and second is compound interest.

In the case of 3 years, then first calculate ci% for 2 years and then for the 3rd year. To make things easier for applicants, team members has launched a wide range of compound. In the real world, the bank takes care of calculating interest for you, but if the word interest shows up on the gre, youre going to need to know how to calculate it yourself. Want to become a bank, railway or govt officer in 2020. Practise unlimited quant quizzes based on different math topics and prepare for upcoming bank and ssc exams ipbs clerk mains, syndicate bank po, sbi po 2018, ssc cgl tier 2, ssc cgl 2018, etc.

Here given compound interest problems are important from the perspective of ssc and banking exams. As we know that same for some time but some cases its different from simple interest. The formulas given below will be useful to solve problems on simple interest. Simple interest and compound interest for all competitive exams theory. Simple interest and compound interest archives ibps guide. Simple interestcompound interest questions for ibps po, sbi po, niacl, nicl, lic, dena bank po pgdbf, boi, bank of baroda and other competitive exams. Aptitude questions and answers for freshers on simple and compound interest. Quantitative aptitudesimple and compound interest key notes. Problems in this topic needs more focus on percentage. When a person or bank lends money to a borrower, the borrower usually has to pay an extra amount of money to the lender.

So, here are simple interest and compound interest problems and solutions for your preparation. Candidates from over all india can apply for the exam. Consider that the simple interest on a sum is inr 1600 when the. In compound interest, interest has to be compounded annually.

Find the compound interest on a principal amount of rs. The ultimate course on simple interest and compound interest. Simple interest question and answers with easy solutions in aptitude topic are present here. Among all topics simple and compound interest is most familiar among all candidates.

We have free practice compound interest sums, shortcuts and useful tips. Compound interest quiz questions are pretty common in various professional exams, including ssc, ibps, sbi, rrb, etc. Basics of simple interest, compound interest for banking, ssc. Lets go through some compound interest solved problems and learn how to use and implement compound interest shortcuts in actual problem solving. Simple and compound interest questions are not the hardest topics in quantitative aptitude, but one needs to be good with logic to answer them correctly. Simple interest problems and solutions for bank exams. If you are preparing for sbi clerk, and sbi po exams 201718, you will.

Aug 09, 2017 simple interest is one of the easiest but tricky topic in aptitude. Problems on simple interest and compound interest for bank exams. If the difference between simple interest and compound interest on a certain sum of money in 2 years at 20 % p. Simple and compound interest problems for bank exams rbi. Compound interest solved problems using compound interest shortcuts. How much is in the account after one year, two years and three years. Quantitative aptitude questions simple interest day37 march 12, 2018 quantitative aptitude questions simple interest and compound interest for sbi clerk 2018 day. Hi bankersdaily aspirants, learning is a step by step process and you should gradually progress in that to ace the process. Today i am going to share simple interest and compound interest tricks. Simple interest problems or questions with solutions covered for all competitive exams like bank exams, interviews and quizzes. The difference between simple interest and compound interest on a sum for 2 years at 8% when the interest is compounded annually is rs. Talentsprint aptitude prep channel is designed to help aspirants get ready for various competitive exams including bank, ssc, railways, insurance, campus recruitment and other govt exams. 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. There are understandable, simple solutions useful for rrb alp, group d and bank jobs.

Simple interest and compound interest shortcut tricks. Simple interest compound interest quantitative aptitude. This pdf is provided to make you the master of the topic. After revising the formulas you will understand the following examples. Compound interest is a common topic in bank exams and all other competitive exams. Remember, till the time you actually solve questions using these tricks, you wont be able to memorize and understand them.

Simple interest and compound interest problems and solutions. Compound interest gives a high return as compared to simple interest. Simple interest is one of the easiest but tricky topic in aptitude. It focuses on the concepts like simple interest, compound interest, difference between simple interest and compound interest etc. So candidates can prepare with all the topics of the quants section.

Part 2 basics and problems for ssc bank rrb other exams duration. Simple interest and compound interest problems and. Score easy in 4 types of simple interest and compound. If the simple interest for a certain sum for 2 yr at 5%pa is 200, then what will be the compound interest for same sum for same period and the same rate of interest. In some cases, of the compound interest, the interest varies.

Simple and compound interest problems for bank exams rbi grade b. Problems on simple interest and compound interest for bank exams ibps po, sbi po, niacl, nicl, lic, dena bank po pgdbf, boi, bob and. Compound interest problems with answers and solutions are presented. Feb, 2015 talentsprint aptitude prep channel is designed to help aspirants get ready for various competitive exams including bank, ssc, railways, insurance, campus recruitment and other govt exams. Compound interest questions or problems with solutions, covered for all bank exams, competitive exams, interviews and entrance tests. Compound interest problems using shortcut tricks 1. Simple and compound interest problems online mock test. Simple interest and compound interest problems for bank exams. Now, lets discuss the basic difference between simple interest and compound interest. Simple interest plays a key role in interest and investment problems. Oct 29, 2019 shortcut tricks on simple interest and compound interest are one of the most important topics in exams. So the competitive level is goes on high every year. The simple interest obtained when a sum of money is invested for 4 years at 18 % per annum is rs. Both chapters are important from the perspective of ssc and banking exams.

Interest is the fixed amount paid on borrowed money. Intenders should note that correctly calculating the compound interest problems can help you build a professional career. In the following section, we will define the important terms and formulae that will help us solve and understand the questions on the simple interest. How to calculate simple interest and compound interest bank. When interest is calculated on the original principal for any length of time, it is called simple interest. Nov, 2017 simple and compound interest are two different methods to calculate the interest. Every competitive exam question paper will contain questions from simple interest and compound interest. Simple and compound interest are two different methods to calculate the interest. Shortcut tricks on simple interest and compound interest are one of the most important topics in exams. Rate of interest must be same in simple interest and compound interest. In this course, the educator teaches the art of solving compound interest questions without using formula. Problems on compound interest for ibps clerk mains and syndicate bank po.

Find the amount to be paid back on a loan of find the. Compound interest and simple interest solved examples. This simple and compound interest questions answers are applicable for any kind of entrance exam or job related exam especially for bank exams, gmat, cat, sbi po practice as much as you can so gather knowledge of how to answers simple and compound interest critical in short time and this can be a big factor for cracking any exam. Simple interest is the rate at which we lend or borrow money. Simple interest and compound interest questions bank exams 2018. Simple interest and compound interest questions are mostly asked in banking exams. The growth rate of simple interest is lower than the compound interest. Interest formulas mainly refer to the formulas of simple and compound interests. On a sum of money, the simple interest for 2 years is rs. She then added some more money to the borrowed sum and lent it to sameera at the rate of 18% of simple interest for the same time. Simple compound interest questions answers problems online.

How to calculate simple interest and compound interest. The sum of the principal and interest is called the amount. Simple interest and compound interest problems for bank exams in quantitative aptitude, usually all the topics are same, never changed for exam to exam. If you know time management then everything will be easier for you. 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. 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. 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. 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.