Quantitative Aptitude for SBI IBPS: Simple and ...

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Quantitative Aptitude: Simple and Compound

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1.

Simple Interest ( SI)

SI = PNR / 100
Where P = Principal amount N = Number of years R =Rate of interest
2.

The Rate at which a sum of money becomes double in T years ,

R = 100/T

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Also, T = 100/R

3.

The rate wt which the sum of money becomes triple in T years

R = 200/ T

also, T = 200/R

Similarly, the rate at which the sum of money becomes 5 Times in T years
R = 400/T

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If it is 8 times, R = 700 / T and so on.

Percentage
Simple and compound
interest

4.

SI for (x-y) years = Amount for x years amount for y years

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Q. At what rate per annum will a sum of Rs 3600 becomes Rs 4500 in 10 years at Simple Interest?
Ans: SI= 4500 3600 = 900
Since SI = PNR / 100
900 = 3600 * R * 10 / 100
Ie R = 2.5 %

Q. At what rate will a sum of money becomes double in 16 years at simple interest?
Ans: R= 100 / T

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= 100/16
= 6.25 %

Q. At what rate will a sum of money become 6 times in 20 years at simple interest?
Ans: R = 500/T
= 500/20
= 25%

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Q. If a certain sum at simple interest amounts to Rs 1260 in 2 years and Rs 1350 in 5 years, find the
rate and principle?
Ans: SI for 3 years = 1350 1260 = 90
Ie SI for one year = 30

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SI for two years = Rs 60

Amount = P + SI
1260 = P + 60
P = 1260 60 = Rs. 1200
Ie, the principle amount = Rs. 1200

To find out the rate of SI,

SI = PNR
R = SI / (P* N)
= 30 / (1200 *1)
= 2.5 %

Q. What is the capital required to earn a monthly interest of Rs 600 at 6% per annum?
Ans:
SI = 600 per month
R = 6%
SI = PNR /100
600 * 12 = P * 1 * 6 /100
P = 600 * 12 * 100 / 6 = 1,20,000

Q. A sum of money was put at SI at a certain rate for 2 years. Had it been ut at 1% higher rate, it would
have fetched Rs 24 more. Find the sum.

These type of problems can be solved in 2 steps

Ie 2 years , Rs 24 more
1 years , 24/ 2, ie 12 more
1 % of P = 12 (since the rate increased by 1%)
Ie p * 1/100 = 12
P = 1200

Compound Interest

Illustrations:
We are leaving examples of compound interest for you folks. Go ahead; find out examples and comment
using Facebook.

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Naveen Nani
M.G University,Nalgonda

Pls tel me difference between si&ci formulas

Like Reply Dec 8, 2015 9:57am

Shivani Shukla
DAV Public School, New Delhi

p(r/100)^2 for two year

Like Reply

1 Dec 17, 2015 12:09am

Vishakha Singh
Dr B R Ambedkar Institute of Technology

very Useful thanku

Like Reply

1 Dec 3, 2015 12:00pm

Jigyasu Gupta
Raj Kumar Goel Institute of Technology

good
Like Reply Sep 23, 2015 1:43am

Vani Krishna
Nice
Like Reply Sep 21, 2015 11:33pm

Sathur Mukil
Works at Student

tat was useful

Like Reply Mar 12, 2015 12:13am

Shiva Kukati
Works at Student

nice methods
Like Reply Dec 8, 2014 8:25pm

Prayag Pattanayak
Berhampur, Orissa

good
Like Reply Oct 1, 2014 5:13am

Monit Mohan Mohan

Managing Partner at AIMS

very nice presentation, pls put more questions related with this
subject thnks
Like Reply Feb 23, 2014 10:10pm

Gaurav Singh
University of Allahabad

Very helpfull...thnq so mch...

Like Reply

1 Oct 29, 2013 11:39am

Jacob John
Great info... Some points frm me..
The difference between SI and CI for 2 years for the same sum at
the same rate can be calculated using the below formula.

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