Home » Quantitative Aptitude »Arithmetic » Simple Interest » Newest
Filter Questions By: Search TypeExam NameTopic/Set
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.

About Testzone.smartkeeda.com:

Testzone.smartkeeda.com, one of the best online test preparation sites, provides you online mock test series which include thousands of questions created by top faculty from across the country. Here, you will find out the best online test series for different bank exams like SBI Clerk Pre, SBI Clerk Mains, IBPS Clerk Pre, IBPS Clerk Mains, SBI PO Pre, SBI PO Main, IBPS PO Pre, IBPS PO Mains, IBPS RRB Office Assistant Pre, IBPS RRB Office Assistant Mains, IBPS RRB Officer Scale 1 Pre, IBPS RRB Officer Scale 1 Mains, SBI SO, IBPS SO and mock test series online for SSC CGL Tier 1, CDSE, CLAT, MAT, SSC LDC, SSC MTS, SSC DEO, SSC Stenographer, LIC AAO, NICL, Railways, etc.

Additionally, you can also attempt free mock tests to see your all India ranks and performance analysis with detailed solutions. You can also find Topic Analysis (Section Weight-age and Trending), My Performance Graph based on percentile, accuracy %, and easy question section %. Plus, you can also compare your scores with those of other test takers across the country.

Testzone.smartkeeda.com, a test series platform is designed as per the most relevant exam pattern, and aims to provide maximum benefits to aspirants in terms of preparation. Our online test series package includes Online Mock Tests that will help you in various ways. It also helps you to give sufficient practice and help you assess your time management skills. At Testzone.smartkeeda.com, candidates have the convenience to view the detailed answer descriptions later and analyze their performance on that basis.

Being an online test series platform, our mission is committed towards furthering the exam aspirants towards success. In this regard, it is important to provide you a platform for testing and evaluating your preparations, through a series of comprehensive tests. Therefore, the Testzone.smartkeeda.com has been prepared from the point of view of different all India competitive examinations.

Link to Testzone, the test series platform: https://testzone.smartkeeda.com/