Using this knowledge, we try to solve the problem visually. 50/ year ∴ SI for 6 years = 50 × 6 = 300Principal Amount = Amount after 6 years – SI for 6 years This problem could have easily been solved in your head using this method without writing down a single equation.
We know that simple interest is same for all the years. This could save you at least 45 seconds per question.
You can easily solve all kind of Aptitude questions based on Simple Interest by practicing the objective type exercises given below, also get shortcut methods to solve Aptitude Simple Interest problems.
Imagine the kind of simple interest problems where different interest rates are given for different time periods.
So we find the difference in the number of years and the amounts.
The difference in number of years = 6 – 5 = 1 year The difference in amounts = Rs.
The table given below lists the values of an initial investment, P = Re.
1 for certain time periods and rates of interest, calculated at both, simple and compound interest.
Simple Interest Problems can actually be simple if solved using easy and smaller methods to solve them.
Read this article to learn a quicker method of solving Simple Interest Problems in which the amounts after ‘a’ and ‘b’ years are given and you are asked to find out the Principal and Rate of Interest.