Shortcuts and tricks for solving Simple Interest problems!

Shortcuts and tricks for solving Simple Interest problems:

Hi friends, here i am sharing the best shortcuts and tricks for solving Simple Interest problems. As time plays crucial role in the competitive examinations, it is better to find a better way for solving the problems in a less time. Here i am sharing some shortcut formulas which would help you to solve Simple Interest problems in less time.

Pricipal : The money borrowed by the borrower from the lender. Principal remains the same throught the loan period.

Rate of interest : Rate at which the principal is charged.

Time : The period for which the money is borrowed.

Interest : The extra money paid by the borrower to the lender for the use of money.

Amount : The money returned by the borrower at the end of the certain period.

Amount = Principal + Interest.

Interest = Amount – Principal.

shortcuts and tricks for solving Simple Interest problems:

1. Simple Interest:

2. Principal :

3. Rate of Interest :

4. Time :

5. If Rate of Interest differs from year to year, then

6. Amount :

7. Principal :

8. If a sum of money doubles in n years. Then it will become x in (x-1)*n years.

 

Leave a Reply

Your email address will not be published. Required fields are marked *