Bank Exam Speed Maths
Page 11: Simple Interest (Shortcut Methods)
1. Basic Concept
Principal (P): Initial amount
Rate (R): Interest rate per year
Time (T): Duration in years
Simple Interest (SI) Formula:
SI = (P × R × T) / 100
SI = (P × R × T) / 100
Amount (A): P + SI
2. Example
P = 1000, R = 10%, T = 2 years
SI = (1000 × 10 × 2)/100 = 200
Amount = 1000 + 200 = 1200
3. Shortcut Method
If rate and time are simple, calculate directly:
Example:
P = 2000, R = 5%, T = 1 year
SI = 5% of 2000 = 100
P = 2000, R = 5%, T = 1 year
SI = 5% of 2000 = 100
4. Yearly Interest Trick
Interest is same every year in SI
Example:
P = 1000, R = 10%
Every year interest = 100
P = 1000, R = 10%
Every year interest = 100
5. Difference Trick
Difference between amounts of two years = one year interest
Example:
Amount after 2 yrs = 1200
After 1 yr = 1100
Difference = 100 (yearly interest)
Amount after 2 yrs = 1200
After 1 yr = 1100
Difference = 100 (yearly interest)
6. Important Tips
• SI increases linearly (same every year)
• Use percentage method for fast solving
• Avoid full formula if values are simple
7. Practice Questions
1. P = 500, R = 10%, T = 2 yrs → SI?
2. P = 2000, R = 5%, T = 3 yrs → Amount?
3. Yearly interest of 1000 at 8%?
4. Difference between 2 yrs & 3 yrs = 200 → Yearly interest?
5. P = 1500, R = 10%, T = 1 yr → SI?
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