6 Fast Tricks to Solve Simple Interest

TYPE 1

To calculate Rate of Simple Interest when Principal becomes A/B times of itself:
Trick:1
Rate of SI = Example 1

At what rate of simple Interest per annum a sum of money becomes 3/2 times of itself in 5 years?

Solution
Rate of Simple Interest =

TYPE 2

To calculate Rate of Simple Interest when Interest becomes A/B times of Principal:
Trick:2

Example 2

At what rate of simple Interest a sum of money becomes 4/25 times of Principal. If number of years is equal to the rate of interest?
Solution:
Let time= X (years)

TYPE 3

When a sum of money becomes N1 times in T1 years and N2 times in T2 years
Trick 3

Example 3

A sum of money becomes 7 times of itself in 20 years . In how many years it will become 13 times of itself?

Solution:

TYPE 4

To calculate Time when Principal becomes N times of itself and rate of Simple Interest is given:
Trick 4

Example 4

In how many years a sum of money becomes 4 times of itself at 10% rate of simple interest?
Solution

TYPE 5

To calculate Principal when sum of interest or difference of interest for two different years is given

Example 5

At 6 % rate of simple interest per annum the sum of interest for 3 years and 6 years is Rs.270. Calculate the sum? What's trending in BankExamsToday

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