Bank Exam Practice Material Series Page 11 | Simple Interest Practice Set with Answers & Shortcut Tricks

 

 Bank Exam Practice Material Series – Page 11

Simple Interest Practice Set with Answers & Shortcut Tricks

Shaktimatha Learning – Bank Exam Practice Hub
Learn Simple Interest shortcut tricks, financial arithmetic methods, percentage calculations, and fast aptitude solving techniques for Bank Exams, SSC, Railways, Insurance, and Competitive Exams.

 Importance of Simple Interest in Bank Exams

Simple Interest is one of the most important arithmetic topics in:

• Bank Exams
• SSC
• Railway Exams
• Insurance Exams

This section tests:

• Percentage calculations
• Formula application
• Financial mathematics
• Problem-solving speed

🎯 Important Simple Interest Concepts

Questions are mainly based on:

• Principal amount
• Rate of interest
• Time period
• Interest calculation
• Amount calculation
• Percentage conversion

 Simple Interest Formula

0

 Amount Formula

1

 Shortcut Tricks

Concept	Shortcut
10% interest	Divide principal by 10
1 year SI	P × R /100
Amount	Principal + SI
Percentage	Convert quickly
Time	Use yearly basis

 Practice Questions

Q1. Find simple interest on ₹1000 at 10% for 2 years.

Solution:

2

✅ Answer = ₹200

Q2. Find amount if principal = ₹5000 and SI = ₹1000.

Solution:

5000 + 1000

✅ Answer = ₹6000

Q3. Find SI on ₹2000 at 5% for 3 years.

Solution:

2000 × 5 × 3 ÷ 100

✅ Answer = ₹300

Q4. Find rate if SI = ₹400, Principal = ₹2000, Time = 2 years.

Solution:

3

400 × 100 ÷ (2000 × 2)

✅ Answer = 10%

Q5. Find time if SI = ₹600, Principal = ₹3000, Rate = 10%.

Solution:

4

600 × 100 ÷ (3000 × 10)

✅ Answer = 2 years

Q6. Find amount on ₹4000 at 5% for 2 years.

Solution:

SI = 400

Amount = 4000 + 400

✅ Answer = ₹4400

Q7. Find SI on ₹1500 at 8% for 5 years.

Solution:

1500 × 8 × 5 ÷ 100

✅ Answer = ₹600

Q8. Principal = ₹2500, Amount = ₹3000. Find SI.

Solution:

3000 − 2500

✅ Answer = ₹500

Q9. Find SI on ₹1200 at 15% for 2 years.

Solution:

1200 × 15 × 2 ÷ 100

✅ Answer = ₹360

Q10. Find amount if Principal = ₹6000 and SI = ₹900.

Solution:

6000 + 900

✅ Answer = ₹6900

 Observation Tricks

• Memorize SI formula
• Simplify percentage calculations
• Use direct substitution
• Practice multiplication shortcuts

 Important Simple Interest Formulas

Topic	Formula
SI	P×R×T/100
Amount	P + SI
Rate	SI×100 / P×T
Time	SI×100 / P×R
Principal	SI×100 / R×T

🎯 Daily Practice Strategy

• Practice SI calculations
• Practice rate finding problems
• Revise time calculation questions
• Practice amount-based problems
• Practice percentage conversions

This improves:

• Financial arithmetic skills
• Formula application
• Competitive exam confidence

“Strong Formula Practice Makes Simple Interest Questions Quick and Easy.”

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Bank Exam Practice Material Series