How To Solve Simple Interest Problems

If we go by the formula of simple interest, it will take a lot of time to solve this kind of question Watch this video to know the Golden Rules to solve SI & CI problems. The rate of interest for the first 2 years is 4% per annum, for the next 3 years is 7.5% per annum and for the period beyond 5 years 12.5% per annum.If a man gets Rs 1075 as a simple interest for 6 years, how much money did he deposit?

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Here you can find objective type Aptitude Simple Interest questions and answers for interview and entrance examination. If the total amount of simple interest earned in 2 years be Rs.

Multiple choice and true or false type questions are also provided. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a.

In this section you can learn and practice Aptitude Questions based on "Simple Interest" and improve your skills in order to face the interview, competitive examination and various entrance test (CAT, GATE, GRE, MAT, Bank Exam, Railway Exam etc.) with full confidence.

India BIX provides you lots of fully solved Aptitude (Simple Interest) questions and answers with Explanation.

Example 6.38: Eduardo noticed that his new car loan papers stated that with an interest rate of 7.5%, he would pay $6,596.25 in interest over 5 years.

In easy words, it can be said as "interest on interest".

The variable for time, t, represents the number of years the money is left in the account.

Definition: simple interest If an amount of money, P, the principal, is invested for a period of t years at an annual interest rate r, the amount of interest, I, earned is $$I = Prt$$ where I = interest P = principal r = rate t = time Interest earned according to this formula is called simple interest.

You can easily solve all kind of Aptitude questions based on Simple Interest by practicing the objective type exercises given below, also get shortcut methods to solve Aptitude Simple Interest problems.

Imagine the kind of simple interest problems where different interest rates are given for different time periods.

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