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• 1.
Alipta got some amount of money from her father. In how many years will the ratio of the money and the interest obtained from it be 10 : 3 at 6% simple interest per annum?
 A. 7 years B. 3 years C. 5 years D. 4 years
Ans
C
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• 2.
A sum of ₹ 16800 is divided into two parts. One part is lent at the simple rate of interest 6% per annum and the other at 8% per annum. After 2 years the total sum received is ₹ 19000. The sum lent at the rate of 6% simple interest is
 A. ₹ 12200 B. ₹ 12000 C. ₹ 11000 D. ₹ 10000 E. None of these
Ans
A
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• 3.
The simple interest on a certain sum for 8 months at 4% per annum is ₹ 129 less than the simple interest on the same sum for 15 months at 5% per annum. What is the sum ?
 A. ₹ 2580 B. ₹ 2400 C. ₹ 2529 D. ₹ 2900 E. ₹ 3600
Ans
E
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• 4.
At what rate of simple interest will ₹ 4,800 amount to ₹ 6,480 in a span of 7 years ?
 A. 5% B. 6% C. 3% D. 4% E. None of these
Ans
A
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• 5.
A what rate of simple interest per annum does a person get an interest of Rs. 4706.1 on the principal amount of Rs. 11205 after 7 years ?
 A. 4% pa B. 6% pa C. 8% pa D. 12% pa E. 14% pa
Ans
B
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Simple Interest is a quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.

How to solve simple interest questions in competitive exams?

We are proving you some Important Short Tricks and Shortcut Methods on Simple Interest question which are usually asked in SSC Exams and Bank Exams so that you can quickly solve the questions in minimum amount of time.

I. To find the simple interest you need Principal, Rate of Interest, Term of loan.

Simple Interest = P x I x N

P = Principal (it is the money borrowed or lent out for a certain period)

I = Interest Rate (the rate of interest at which the principal is give for a certain period)

N = Term of loan (Time period which Is denoted by N)

For example, if simple interest is charged at 5% on a Rs. 10,000 loan that is taken out for a three-year period, the total amount of interest payable by the borrower is calculated as: 10,000 x 0.05 x 3 =  Rs. 1,500.

II. To find the Amount (A) you need Simple Interest and Principal,

A = SI + P

Now the total amount will be 10,000 + 1,500 = 11,500.

On this page of Smartkeeda.com, you will find some Important Short Tricks and Shortcut Methods on Simple Interest Question, simple interest concepts, simple interest formula, simple interest shortcuts, simple interest trick for SSC CGL, tips on how to solve simple interest problems quickly, simple interest problems with solution, simple interest tricks for banks exams, simple interest shortcuts for SSC exams, simple interest questions with complete solution, simple interest problems, etc.