- Simple interest is a quick method of calculating the interest charge on a loan.
- The amount of interest is fixed over a period of time.
- Principal remains constant
- SI = P× N×R/100
- A= P + SI
- SI = Simple Interest
- P =Principal (initial value of an investment)
- N= number of years
- R= Rate of interest
- A = Amount
Questions
1.A person deposited 4000 in simple interest rate for 2 months. If he gets 60 as interest, what is the rate of interest ? (Women Civil Excise Officer 2018)
SI=PNR/100
N=2/12(for 2 months)
60= 4000*2/12*R/100
R=9%
2.Ramu invested Rs. 2,500/- in a bank with rate of simple interest 12%. How many rupees does he receive after 1½ years ?(Caretaker Male 2018)
N= 1½= 3/2
SI= PNR/100
SI= 2500*3/2*12/100
SI=450
A= P+SI= 2500+450 =Rs. 2950
2017
2.A sum of money doubles itself in 5 years at a simple interest. Then what is the rate of interest? (ARMED POLICE SUB INSPECTOR TRAINEE 2017)
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SI=PNR/100
N=2/12(for 2 months)
60= 4000*2/12*R/100
R=9%
2.Ramu invested Rs. 2,500/- in a bank with rate of simple interest 12%. How many rupees does he receive after 1½ years ?(Caretaker Male 2018)
N= 1½= 3/2
SI= PNR/100
SI= 2500*3/2*12/100
SI=450
A= P+SI= 2500+450 =Rs. 2950
2017
1. à´’à´°ു à´°ൂപയ്à´•്à´•് à´’à´°ു à´®ാà´¸ം à´’à´°ു à´ªൈà´¸ പലിà´¶. പലിശനിà´°à´•്à´•് à´Žà´¤്à´° ? (LDC 2017)
SI= PNR/100
1/100= 1* 1/12 *R/100
R=12%2.A sum of money doubles itself in 5 years at a simple interest. Then what is the rate of interest? (ARMED POLICE SUB INSPECTOR TRAINEE 2017)
A=2P (says doubles)
2P= P+SI (since A = P +SI)
P=SI
P ×5× R/100 = P (since SI = PNR/100)
R= 100/5 = 20%
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