# 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:

$\boldsymbol{S.I=\frac{Principal&space;\times&space;Rate&space;\times&space;Time}{100}}$
2. Principal :

$\boldsymbol{Principal=\frac{S.I&space;\times&space;100&space;}{Rate&space;\times&space;Time}}$
3. Rate of Interest :

$\boldsymbol{Rate=\frac{S.I\times&space;100}{Principal\times&space;Time&space;}}$
4. Time :

$\boldsymbol{Time=\frac{S.I\times&space;100}{Principal\times&space;Rate&space;}}$
5. If Rate of Interest differs from year to year, then

$\boldsymbol{Simple\:&space;Interest=Principal\times&space;\frac{\left&space;(&space;R1+R1+R3+...&space;\right&space;)}{100}}$
6. Amount :

$\boldsymbol{Amount=Principal\times&space;\frac{100+\left&space;(&space;Rate\times&space;Time&space;\right&space;)}{100}}$
7. Principal :

$\boldsymbol{Principal=Amount\times&space;\frac{100}{100+\left&space;(&space;Rate\times&space;Time&space;\right&space;)}}$
8. If a sum of money doubles in n years. Then it will become x in (x-1)*n years.