Simple And Compound Interest Problems Pdf

I 5 prt use the simple interest formula.

Simple and compound interest problems pdf. Computing compound interest using simple interest simon deposits 400 in an account that pays 3 interest compounded annually. What is the balance of simon s account at the end of 2 years. There are many competitive exams have come in recent years. Candidates from over all india can apply for the exam.

Free practice for sat act and compass maths tests. I prt 5 000 11 90 365 135 62 unit 8 1 computing simple interest and maturity value 155 c computing simple interest loans stated in days example 5 as you can see from example 5 a 360 day year benefits. Calculate interest on a 90 day 5 000 loan at 11 using a a 360 day year and b a 365 day year. Solving compound interest problems to solve compound interest problems we need to take the given information at plug the information into the compound interest formula and solve for the missing variable.

So that you can easily get the logic of question. 5 400 0 03 1 512 balance 5 p 1 prt use the. Simple compound interest shortcut tricks pdf simple compound interest mcq simple compound interest objective question answer pdf. Simple interest and compound interest problems and solutions pdf.

A 4 b 7 8 c 10 3 d 16 e. So the competitive level is goes on high every year. The sum lent is called the principal. Solution mx find the balance at the end of the fi rst year.

Compound interest question with solution free pdf. Simple interest and compound interest problems and solutions pdf. As questions are based on previous year papers there are chances that candidates will find many questions from the compound interest questions pdf in all competitive exams. If you check the last 4 5 year s papers of ssc cgl any other competitive exams you will find that many questions from.

The method used to solve the problem will depend on what we are trying to find. Simple interest i 5 100 prn compound interest a 5 1 100 p r n 1 final amount i 5 a 2 p interest where p is the principal r is the interest rate per period expressed as a percentage n is the number of periods use 1 year 5 52 weeks 5 365 days. I prt 5 000 11 90 360 137 50 b. Compound interest problems with answers and solutions are presented.

Very competitive exam question is one of the easiest but tricky topic in aptitude problems in this topic needs more focus on percentage. This pdf is provided to make you the master of the topic. Interest is of two kinds. The sum of the principal and interest is called the amount.

A principal of 2000 is placed in a savings account at 3 per annum compounded annually. Interest is the fixed amount paid on borrowed money. Simple compound interest pdf.