Simple Interest Shortcut Tricks – Practice Problems
By using this simple trick on Simple Interest problems, we can able to solve any to any problem in this topic and get answers very quickly than using normal methods.
Simple Interest shortcut Trick – Speed Maths Tricks
While solving simple interest problems by using percentage method,
Always assume principle P = 100%,
Simple Interest (SI) = (Time × Rate) %.
Total Amount (A) = P + SI = 100% + SI%.
Steps to Solve:
- We have to analyze the in terms of above process and assume principle amount as 100%.
- If 100% is this much then x% is how much , like this we have to analyze and solve it by using cross multiplying
100% = …
x% = ?
For better understanding watch the video given below, explained clearly in step by step process with examples.
And At Some places use below SI formulae
In the below video, solving process of SI problems has been explained clearly step by step.
Once watch the below video and practice the problems given here.
Simple Interest Practice Problems: Using Speed Maths Trick
1. If a sum doubles itself in 10 years at simple interest. What must be the rate of Interest per anum?
2. On What sum, invested at the simple Interest rate of 10% per anum for 5 years will the interest be equal to Rs.500?
3. At Simple Interest, a sum amounts to Rs.3360 in 6 years, and to Rs.3400 in 7 years. What does it amount to in 9 years?
4. The simple interest on a sum of money invested for 6 years is Rs.1500. If after two years, the interest rate is doubled, what will the interest be?
5. If Rs.5800 are divided into two parts, such that the simple interest obtained on the first part at the rate of 7% per anum for a period of 2 years is equal to the simple interest earned on the second part at the rate of 5% for the period of three years. What is the first part?
6. A money lender lent Rs.400 for two years and Rs.200 for 3 years at the same rate of simple interest and received totally Rs.70 as interest. What was the rate of interest per anum?
7. At simple interest, a sum amounts to Rs.3360 in 6 years. And to Rs. 3400 in 7 years. What does it amount to in 9 years?
8. The Simple Interest on a certain sum of money at the rate of 10% per anum for the period of 3 years and 5 years differs by Rs.1000, What is the sum?
9. When the rate of interest on a loan is increased from 4% and 5% p.a. . The interest is Rs.1.11 more per month than before. What is the amount of the loan?
10. Ravi and Raju invested Rs.2000 and Rs.3000 at the simple interest rate of 5% and 4% per anum respectively in two banks. What is the difference in the simple interest earned by them after 5 years?