## Simple Interest - For SSC CGL/Bank PO

**Simple Interest (S.I.)** = ( **P** X **R** X **T**)/**100**

where Principal = **P**, Rate = **R%** per annum (p.a.) and Time = **T** years

**Amount = Principal + Simple Interest**

1. A sum of money becomes n times in t years at simple interest, then Rate of interest=

2. A sum of money becomes n times at r% per annum at simple interest, then Time=

3. If any sum is n times of simple interest, then

## Questions Asked from this Chapter:

### Question Type 1: Based on Simple Interest Formula

**Example:**

What sum will amount to Rs 7000 in 5 years at 3*(1/3)% simple interest?

a) Rs 6300

b) Rs 6500

c) Rs 6000

d) Rs 5000

### Question Type 2: Sum of money becomes "N" times of itself in "T" years at a certain rate of Simple Interest.

**Example:**

In how many years will a sum of money double itself at 12% per annum?

a) 8 years and 6 months

b) 6 years and 9 months

c) 8 years and 4 months

d) & years and 6 months

### Question Type 3: If Simple Interest on a Certain Sum for "N" years is P/Q of the Sum

**Example:**

Simple interest on a certain sum for 6 years is 9/25 of the sum. The rate of interest is:

a) 6%

b) 6.5%

c) 8%

d) 8.5%

### Question Type 4: Based on Difference on S.I. for "X" years & S.I. for "Y" years

**Example:**

Equal sums of money are lent to X and Y at 7.5% per annum for a period of 4 years and 5 years respectively. If the difference in interest paid by them was Rs 150, the sum lent to each was:

a) Rs 500

b) Rs 1000

c) Rs 2000

d) Rs 3000

### Question Type 5: Based on Ratio

**Example:**

A person borrows some money for 5 years and (loan amount:total interest amount = 5:2). The ratio (loan amount:interest rate) is equal to:

a) 2:25

b) 2:1

c) 5:2

d) 25:2