Aptitude Shortcuts Simple Interest and Compound Interest Problems Type-III- Download in PDF

Aptitude Shortcut methods and tricks for the problems related to Simple Interest and Compound Interest were given below. Candidates those who are preparing for Bank PO/Clerk and all other competitive Exams can also download this in PDF.

 

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SIMPLE INTEREST
 
QUESTION:
Karan took a loan on simple interest at the rate of 12% per year. After 8 months he paid Rs. 8100. How much loan was taken by Karan?
GIVEN:
Amount = A = Rs. 8100
Rate = R = 12%
No. of years = N = 8 months = [8/12] = [2/3] year
Principal = ?
SOLUTION:
Let the Principal, P = Rs. X
S. I. = [PNR/100]
       = [ X×(2/3) × 12] / 100
S.I. = 2X/25
A = S.I. + P
8100 = [2X/25] + X
8100 = [27X / 25]
27X = 8100 × 25
27X = 202500
Therefore, X = [202500 / 27] = Rs. 7500
Theloan taken was Rs. 7500
 
ALTERNATIVE METHOD:
S. I. = R × N = 12% × [2/3] yr = 8%
S.I. = A – P = 8100 – X
Therefore, 8%à  8100 – X
       P of   100%à?
P = [100(8100 – X)] / 8
P = 101250 – 12.5X
A = P + S.I.
8100 = 101250 – 12.5X + 8100 – X
12.5X + X = 101250
13.5X = 101250
Therefore, X = [101250 / 13.5] = Rs. 7500
Principle = Rs. 7500
 

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