Shortcut Trick to Solve Simple Interest For Bank Exams
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IBPS PO Simple Interest Questions with Answers FREE PDF Download SSC CGL – Important Short Tricks to Solve Simple Interest Questions. IBPS PO is one the primary bank exams of all times. Competitive exam preparation has always been a crucial task involving dedication and commitment. Previous Year Questions of Simple Interest For SSC CGL.
In this article, we also provide you Important Short Tricks on Simple Interest Questions which are asked in bank exams like IBPS. IBPS PO Simple Interest questions with answers FREE PDF download will help you solve maximum number of questions in minimum amount of time. Candidates must take lot of online IBPS PO mock test for practice.
Simple Interest problems based on this concept are not only a little complicated but also asked very frequently asked in competitive exams. So let’s establish a relation between terms and formulas that help to solve such Simple Interest formulas.
Shortcut Trick to Solve Simple Interest For Bank Exams
1.
2.
A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 6p.a for 2 years. Find his gain in the transaction per year.  

3.
A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned?  

4.
What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?  

Each of the questions given below consists of a statement and / or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is / are sufficient to answer the given question. Read the both statements and
 Give answer (A) if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question.
 Give answer (B) if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question.
 Give answer (C) if the data either in Statement I or in Statement II alone are sufficient to answer the question.
 Give answer (D) if the data even in both Statements I and II together are not sufficient to answer the question.
 Give answer(E) if the data in both Statements I and II together are necessary to answer the question.
5.
 

6.
 

7.
 

8.
 

9.
 

Answers
1.
Let rate = R% and time = R years.
Then,  1200 x R x R  = 432  
100 
12R^{2} = 432
R^{2} = 36
R = 6.
2.
Gain in 2 years 
 
= Rs. (625 – 400)  
= Rs. 225. 
Gain in 1 year = Rs.  225  = Rs. 112.50  
2 
3.
We need to know the S.I., principal and time to find the rate.
Since the principal is not given, so data is inadequate.
4.
Let the principal be P and rate of interest be R%.
Required ratio = 
 =  6PR  =  6  = 2 : 3.  
 9PR  9 
5.
Given : S.I. = Rs. 50.
I gives, R = 10% p.a.
II gives, T = 10 years.
Sum =  100 x S.I.  = Rs.  100 x 50  = Rs. 50.  
T x R  10 x 10 
Thus, I and II together give the answer.
Correct answer is (E)
6.
Let the rate be R% p.a.
I gives, P = Rs. 8000 and T = 4 years.
II gives, S.I. = Rs. (8800 – 8000) = Rs. 800.
R =  100 x S.I.  =  100 x 800  %  = 2  1  % p.a.  
P x T  8000 x 4  2 
Thus, I and II both are needed to get the answer.
Correct answer is (E)
7.
Let the rate be R% p.a.
I gives, P = Rs. 8000 and T = 4 years.
II gives, S.I. = Rs. (8800 – 8000) = Rs. 800.
R =  100 x S.I.  =  100 x 800  %  = 2  1  % p.a.  
P x T  8000 x 4  2 
Thus, I and II both are needed to get the answer.
Correct answer is (E).
8.
Let the sum be Rs. x.
I gives, S.I. = Rs. 7000 and T = 7 years.
II gives, Sum + S.I. for 5 years = 2 x Sum Sum = S.I. for 5 years.
Now, S.I. for 7 years = Rs. 7000.
S.I. for 1 year = Rs.  7000  = Rs. 1000. 
7 
Thus, I and II both are needed to get the answer.
Correct answer is (E).
9.
We know that, R =  100 x S.I.  
P x T 
Now, I gives, S.I. = Rs. 4000.
II gives, T = 4 years.
But, P is unknown. So, we cannot find R.
So, given data is insufficient to get R.
Correct answer is (D).
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