Simple Interest

Quantitative Aptitude - Simple Interest

Calculate interest earned or paid using basic SI formula and related adjustments.

1. Formula

Simple Interest = (P × R × T) / 100; Amount = P + SI.

2. Quick Tips

• Convert rate to decimal before calculating monthly or daily interest.
• For fractional years, adjust time accordingly (e.g., 6 months = 0.5 year).

3. Common Errors

• Confusing simple and compound interest formulas.
• Using incorrect rate or time units.

4. Revision Checklist

• Practice SI problems with different time frames and rates.

Summary: Apply SI formula directly, ensure correct unit conversions, and calculate final amount or interest with precision.