Simple and compound Interest

Simple and compound Interest

Simple Interest:-

Basic formulae for calculation of various parameters related to simple interest  are explained as under If P= Principal, R = Rate per cent per annum ,T= Number of years, SI = Simple interest and A = Amount, Then

Elementary Formulae on Simple Interest

1.Change of rate of interest and time when interest is calculated for different specified time.
   if original rate = R% and time  = T yr , Then
   For half-yearly, rate = R/2 % and time = 2T

   For quarterly, rate = R/4 % and time = 4T
   For quarterly, rate = R/12 % and time =12T

 2. When a sum becomes n times of its in T yr at a rate of R% per annum, then RT = (n-1) x 100

3. When the simple interest on a sum at R% per annum in T yr is X/Y of the sum, then for R = T
      T = R = √[(x/y) x 100]

4. When two equal sum are deposited for T1 and T2 at the rate of interest of R1 % and R % per annum, respectively and their difference of simple interest is D , then

5. If SI for a certain sum P1 for time T1 and rate of interest R1 is I1 and SI for another sum P2 for time T2 and rate of interest R2 is I2, then


Compound Interest:-

Basic formulae for calculation of various parameters related to compound interest are explain as under
P = Principle
R = Rate per cent annum
n = Time (in year)
A = Amount
CI = Compound interest
When the interest is compounded annually , then

 Elementary Formulae on Compound Interest

Formulae






Solved Problem on Simple & Compound Interests

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Practice Problem On SI & CI

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Solution of Practice Sheets

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