Simple Interest
Simple Interest -Practice different types of aptitude test for free, including numerical and verbal tests. All questions come with worked solutions to help you improve. Simple Interest Shortcuts
How do you Calculate Simple Interest? Simple Interest is calculated using the following formula: SI = P × R × T, where P = Principal, R = Rate of Interest, and T = Time period. Here, the rate is given in percentage (r%) is written as r/100.
Simple Interest Shortcuts , Tricks and Tips
Formula:
1) SI = P x R x T/100
2) Principal = Simple Interest ×100/ R × T
3) Rate of Interest = Simple Interest ×100 / P × T
4) Time = Simple Interest ×100 / P × R
5) If the rate of Simple interest differs from year to year, then
Simple Interest = Principal × (R1+R2+ R3…..)/100
The four variables in the above formula are: SI=Simple Interest P=Principal Amount (This the amount invested)T=Number of yearsR=Rate of interest (per year) in percentage1). A sum of money is divided into n parts in such a way that the interest on the first part at r1% for t1 years, on the second part at r2% for t2 years, on the third part at r3% for t3years, and so on, are equal. Then the ratio in which the sum is divided in n part is:1/r1×t1: 1/r2 ×t2: 1/r3×t3