Simple Interest Short Tricks

Find Simple interest based question

Shortcut tricks on simple interest are one of the most important topics in exams. Time is the main factor in competitive exams. If you know time management then everything will be easier for you. Most of us miss that part. Few examples on simple interest shortcuts is given in this page below. We try to provide all types of shortcut tricks on simple interest here. Visitors are requested to carefully read all shortcut examples. These examples here will help you to better understand shortcut tricks on simple interest.

Before starting anything just do a math practice set. Then find out twenty math problems related to this topic and write those on a paper. Using basic math formula do first ten maths of that page. You also need to keep track of timing. Write down the time taken by you to solve those questions. Now practice our shortcut tricks on simple interest and read examples carefully. After doing this go back to the remaining ten questions and solve those using shortcut methods. Again keep track of Timing. This time you will surely see improvement in your timing. But this is not all you want. If you need to improve your timing more then you need to practice more.

You all know that math portion is very much important in competitive exams. That doesn’t mean that other sections are not so important. But only math portion can leads you to a good score. Only practice and practice can give you a good score. All you need to do is to do math problems correctly within time, and this can be achieved only by using shortcut tricks. Again it does not mean that you can’t do maths without using shortcut tricks. You may have that potential that you may do maths within time without using any shortcut tricks. But so many people can’t do this. Here we prepared simple interest shortcut tricks for those people. We always try to put all shortcut methods of the given topic. But if you see any tricks are missing from the list then please inform us. Your little help will help others.

When take up some money from other for the personal or commercial purpose we pay some additional money to him after a certain period of time is called Interest. So we can also called this Interest as Simple Interest. So we can find the simple interest on Principal using some formula. This type of problem are given in Quantitative Aptitude which is a very essential paper in banking exam. Under below  given some more example for your better practice.

    Find Simple interest using formula

    Formula : S.I = (P X R X T / 100)

Example 1: What would be the simple interest on Rs. 20 for 5 month at the rate of 6 paise per rupee per month
Answer : Simple interest = 20 x 6 x 6 / 100 = Rs. 6.

Example 2 :
Find the Simple Interest on Rs. 75000 at 4% per annul for 4 years.
Answer:
we know Principal
P = Rs. 75000
R% = 4 per annul
T year = 4 years.
we just put the value into formula.
P = Rs. 75000, R = 4% p.a ( per annul ) T = 4 years.
S.I = ( P X R X T / 100 ) = 75000 X 4 X 4 /100 = 12000.
So the S.I is 12000.

Example 3:
On amount of 7530 at the rate of 18 p.c.p.a for 6 years What will be the simple interest ?
Answer :
S.I = P R T / 100
S.I = 7530 x 18 x 6 / 100
S.I = 8132.40
So, the simple interest is 8132.40.

Example 4: Find the time required Rs 10000 amount to Rs. 12000 at the rate of 4% per annum at S.I ?
Answer : we know SI = PRT / 100
= 1000 = 10000 X 4 X T / 100
t = 10000 X 4 / 100 X 2000
t = 5 years.

Example 5:
What will be the Ration of the Simple interest earned by certain amount at the same rate of interest for 5 years and 7 years ?
Answer :
step 1: Let Principal P and Rate of interest be R %.
So Required interest of 5 years is S.I = P R T / 100 = P x R x 5 / 100 = 5 PR / 100.
Required interest of 7 years is S.I = P R T / 100 = P x R x 7 / 100 = 7 PR / 100.
Step 2: Required ration is = 5 PR / 7 PR = 5 / 7 = 5 : 7.
So, Required Ration is 5 : 7.

Example 6:
What would be the simple interest acquired by certain amount at the same rate of interest for 4 years and also that for 8 years ?
Answer : Let principle P and rate of interest = R%. Time = 4 years and 8 years.
we know the formula : Simple interest = PRT / 100.
[ PxRx4 / 100 : PxRx8 / 100 ] = 4PR / 8PR = 4 / 8 = 1 : 2.

Example 7: Find the Simple Interest on Rs. 40000 at 25 / 4 % per annul for the period from 4th January, 2013 to 18th march, 2013.
Answer:
Step 1: First we calculate the period of time taken that is =
January = (31 – 4) = 27 days,
February =  28 days,
March = 18 day.
Add all together ( 27 + 28 + 18 ) = 73 / 365 year = 1 / 5 years.
Step 2: we know Principal P = 40000, and R = 25 / 4 % p.a.
Step 3: S.I = Rs. ( 40000 X 25 X 1 X 1 / 4 X 100 X 5 ) = Rs. 500
So, the S.I is 500.

Example 8: What would be the simple interest earned by certain amount, at the same rate of interest for 4 years
and that for 8 years ?
Answer:
Let the principal be P
Rate of interest be R%
Time is 4 years and 8 years
So, Required ratio is = ( P x R x 4 /100 ) / ( P x R x 8 /100 ) = 4 / 8 = 1 / 2 = 1 : 2.

Example 9: What would be the simple interest on Rs. 85,000 at 15% per annum for 8 month
Answer: S.I = 85,000 x 2 x 15 / 3 x 100 = Rs. 8500.

Example 10: What would be the simple interest earned on an amount of Rs. 18,600 in 8 months at the rate of 18 / 2% per annul ?
Answer: 18,600 x 2 x 1 x 18 / 3 x 100 x 2 = 1116.

Example 11: What would be simple interest on Rs. 1860 from 2nd April to 21 June 2014 at the rate of 20 / 2% ?
Answer: 2nd April to 21 June 2014 = ( 28 + 31 + 21 ) = 80 days,
1860 x 20 x 1 x 20 / 2 x 100 x 3 = 1240.

Example 12: If Rs. 75 amounts to Rs. 90 in 2 years, What would be Rs. 120 amount to in 6 years at the same time rate percent p.a ?
Answer: P = 75, So SI = ( 90 – 75 ) = Rs. 15, and time = 2 years
So, rate = 100 x 15 / 75 = 20%.
P = Rs. 120, R = 20% time = 6 years,
So, SI = 120 x 20 x 6 / 100 = Rs. 144.