Compound Interest & Simple Interest
Practice SSC CGL CI & SI chapter-wise PYQs online. Master 2-year and 3-year CI - SI difference shortcuts, tree method & step-by-step solutions.
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🎯 High-Yield Syllabus Breakdown
These high-frequency concepts account for over 90% of all questions asked in Compound Interest & Simple Interest:
- Simple Interest SI = P · R · T / 100
- Compound Interest Successive Rate Formula (A + B + AB/100)%
- Difference between CI and SI for 2 Years: D₂ = P (R/100)²
- Difference between CI and SI for 3 Years: D₃ = P (R/100)² (3 + R/100)
- Installment Problems in CI and SI
⚡ Essential Formulas & Speed Shortcuts
Formulas and time-saving shortcuts to solve CI & SI questions in under 45 seconds:
2-Year Difference: D = P(R/100)²
Effective CI Rate for 2 years at r%: Net Rate = 2r + r²/100 (e.g. 10% gives 21%).
Tree Method splits principal into clean yearly interest parts.
📖 Sample Solved Exam Questions
Preview authentic questions from this chapter with full step-by-step solutions:
💡 View Step-by-Step Solution & Answer
Correct Answer: ` 306.04
- Step 1: Understand problem conditions and equations.
- Step 2: Principal amount = ` 5000 Rate of interest = 8% per annum Quarterly rate of interest = 8 1 4 2×= % Time period = 9 months = 9/12 yr For quarterly = 9/12 43×= ∴ =+ −⎡ ⎣ ⎢ ⎤ ⎦ ⎥ =+ ( Compound interest C I() P r T 1/100 1/5000 1 2/100( ( ) ) −⎡ ⎣ ⎢ ⎤ ⎦ ⎥ = −⎡ ⎣ ⎢ ⎤ ⎦ ⎥ = − 3 3 3 1/5000 102/100 1/5000 51/50 1 1/5000 1326
- Step 3: Evaluating gives verified answer: ` 306.04.
⚡ Speed Tip: Verify intermediate calculations and units.
💡 View Step-by-Step Solution & Answer
Correct Answer: ` 1891.50
- Step 1: Understand problem conditions and equations.
- Step 2: W e have, Compound interest = P 1 5/100 1 3 + −⎡ ⎣ ⎢ ⎤ ⎦ ⎥ = −⎡ ⎣ ⎢ ⎤ ⎦ ⎥ =12000/21 20 1/1891 5 3 ` .
- Step 3: Evaluating gives verified answer: ` 1891.50.
⚡ Speed Tip: Verify intermediate calculations and units.
💡 View Step-by-Step Solution & Answer
Correct Answer: 6 %
- Step 1: W e have, 13483 2/1200 1/100 2 .
- Step 2: =+ R ⇒ 1/100 1348/32 1200/134832 120000/11236 10000/106 100 2 + == == ( ( R .
- Step 3: ) ) 2 ⇒ 1/100 106/100 1 6/100+ == +R ⇒ R = 6% per annum
⚡ Speed Tip: Verify intermediate calculations and units.
❓ Frequently Asked Questions (FAQs)
What is the fastest formula for 2-year CI - SI difference?
Difference = P × (R / 100)². For 10% and P = 10,000, Diff = 10,000 × (10/100)² = 100.