SSC CGL – Important Short Tricks to Solve Simple Interest Questions | Download PDF

This article is for the aspirants of various competitive exams like SSC CGL, bank exams like IBPS, IBPS PO and etc. Here we have listed some of the 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.

This article will help you solve a maximum number of questions in a minimum amount of time. Candidates must take a 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 in competitive exams. So let’s establish a relation between terms and formulas that help to solve such Simple Interest formulas. Readers can download the PDF from the link given below.

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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.

A. Rs. 112.50 B. Rs. 125 C. Rs. 150 D. Rs. 167.50

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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 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.

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Answers 

1. 

Let rate = R% and time = R years.

Then,		1200 x R x R		= 432
		100

 12R² = 432

 R² = 36

 R = 6.

2. 

Gain in 2 years	= Rs. 5000 x 25 x 2 – 5000 x 4 x 2 4 100 100
	= 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 the rate of interest be R%.

Required ratio =	P x R x 6 100	=	6PR	=	6	= 2 : 3.
	P x R x 9 100		9PR		9

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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.

 The 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.

 The 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.

 The 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.

 The correct answer is (E).

9. 

We know that R =		100 x S.I.
		P x T

Now, I give, 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.

 The correct answer is (D).

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