Simple Interest and Compound Interest Formula For Bank Exams: Download PDF
May 16 2023
Simple Interest and Compound Interest Formula PDF for Bank Exams: Simple interest and compound interest formula pdf for bank exams is available here. In this simple interest and compound interest formula shortcut pdf, you can learn useful tricks. Aspirants who are getting ready for their upcoming bank exams and other competitive exams shall go through this simple interest and compound interest formula with examples pdf. Simple interest and compound interest formula aptitude pdf is one of the most important materials to score in the quantitative aptitude section of the bank exams and other competitive exams. For most of the bank exams like sbi clerk, sbi po, ibps po, ibps clerk, rrb po, rrb clerk and other insurance exams we can use this simple interest and compound interest formula pdf. Also, you can use this pdf on simple interest and compound interest formula for ssc exams. The simple interest and compound interest formula for bank exams will help you to make your calculation easier. Basically, candidates should know what is the formula for simple interest rate and compound interest rate. for, that go through this simple interest and compound interest formula for bank exams pdf. so, you can easily know what is the formula for simple interest and compound interest. Candidates can utilize this simple interest and compound interest formula pdf for bank exams to improve your speed and accuracy. Also, candidates should know the difference between simple interest and compound interest formula. So, daily practice with our simple interest and compound interest formula shortcuts pdf. So, you can know the difference between simple interest and compound interest for 2 years formula, 3 years formula, etc. By practicing the simple interest and compound interest formula for bank exams pdf, you can get clarity. By exploiting this simple interest and compound interest formula pdf you can practice problems on difference between simple interest and compound interest with example.
Simple interest and compound interest is one of the most significant topics of the bank exams and other competitive exams. In this Simple interest and compound interest formula for bank exams article we have explained briefly about the definition of simple interest and compound interest, various simple interest and compound interest formula for bank exams, simple interest and compound interest formula with example by using the Simple interest and compound interest formula for bank exams, difference between the simple interest and compound interest. The aspirants are asked to download the simple interest and compound interest formula pdf for bank exams to be proficient with the various types of Simple interest and compound interest formula for bank exams.
Simple Interest and Compound Interest Formula PDF For Bank Exams
Simple interest and compound interest formula pdf for bank exams is added in this Simple interest and compound interest formula for bank exams post. The Simple interest and compound interest formula pdf for bank exams will help you to achieve more marks in the exams with speed and accuracy. Most importantly Simple interest and compound interest formula pdf for bank exams will be useful to make your calculations as a simpler one and it saves your time to concentrate on other questions in the bank exams. Download the Simple interest and compound interest formula pdf for bank exams to know the difference between the simple interest and compound interest and various simple interest and compound interest formula, simple interest and compound interest formula with example for your future reference.
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Simple Interest and Compound Interest Formula For Bank Exams:
The various different types of simple interest and compound interest formula for bank exams are attached in this simple interest and compound interest formula for bank exams post. Candidates can go through this simple interest and compound interest formula for bank exams article to know more about the difference between the simple interest and compound interest formula for bank exams. You can refer the simple interest and compound interest formula with example to know how to solve the questions.
Simple Interest Formula:
The simple interest is the interest calculated on the amount initially invested or loaned. It is a method for calculating the interest earned or paid on a certain balance in a specific period.
Simple Interest (SI) = PXRXT / 100
where, P = Principal
R = Rate of Interest
T = Time
Compound Interest Formula
Compound interest is the addition of interest to the principal sum of a loan or deposit. Compound interest is calculated based on the principal, interest rate, and the time period involved.
Compound Interest CI = {P*[1+ (r/100)]^{n} 1}
Where, P = Principal
R = Rate of Interest
T = Time
n = number of times interest got compounded annually
Amount = P ( R/100 )n
Where, P = Principal
R = Rate of Interest
T = Time
 If interest compounded Half Yearly,
If interest is compounded Half yearly Then, we should consider n=2,
Hence the formula for Amount A = P*[1+ (r/2*100)]^{2n}
Compound Interest = Total amount – Principal
 If interest compounded Quarterly,
If interest is compounded Quarterly Then, we should consider n=2,
Hence, Formula for Amount A = P*[1+ (r/4*100)]^{4n}
Compound Interest = Total amount – Principal
 If interest compounded Monthly,
If the interest is compounded monthly then, n=12.
Hence, formula for Amount = P ( 1 + R/100 X 12 )12T
Difference Between The Simple Interest and Compound Interest
Before going to practice the questions with the simple interest and compound interest formula you have some knowledge about the difference between the simple interest and compound interest. In this simple interest and compound interest formula for bank exams article we have provided the difference between the simple interest and compound interest. So aspirants can go through this simple interest and compound interest formula pdf to be proficient with the different between simple interest and compound interest, simple interest and compound interest formula for bank exams.
Difference Between The Simple Interest and Compound interest 

Simple Interest 
Compound Interest 
The simple interest is same for all the years 
The compound interest is different for all the years 
Simple Interest is less than Compound Interest 
Compound Interest is greater than simple Interest 
Simple Interest (SI) = P X R X T100 
Compound Interest ( CI ) = {P*[1+ (r/100)]^{n} 1} 
The principal amount is constant in such a type of interest 
The principal amount is varying during the complete borrowing period 
Practice simple interest and compound interest questions  Free pdf
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Simple Interest and Compound Interest Formula With Examples
Here we have provided some simple interest and compound interest formula with examples by using the simple interest and compound interest formula for bank exams. Candidates shall download the simple interest and compound interest formula pdf for bank exams to know the simple interest and compound interest formula, difference between simple interest and compound interest, simple interest and compound interest formula with example for your future reference.
Example 1: : Find the amount that was invested at 5% annual simple interest for 4 years to earn Rs 3500?
Solution:
Assume that the principal value is P.
Rate of interest is, R = 5% = 0.05.
Time is, T = 4 years.
Amount is, A = 3500.
Using the simple interest formula of amount,
A = P (1 + RT)
3500 = P (1 + 0.05 · 4)
3500 = 1.2 P
Dividing both sides by P,
P = 3500/1.2 = 2916.67
Example 2: Find the compound interest on Rs. 13000 at 10% for 2 years, compounded annually.
Solution:
Principal = P = Rs. 13000
Rate of interest = r = 10%
Time = t = 2 years
Amount on CI = P(1 + r/100)2
= 13000(1 + 10/100)2
= 13000 (1 + 0.1)2
= 13000(1.1)2
= 13000 × 1.21
= 15730
CI = Amount on CI – Principal
= Rs. 15730 – Rs. 13000
= Rs. 2730
Therefore, the compound interest = Rs. 2730
We hope that this simple interest and compound interest formula will be useful for your upcoming bank exams and other competitive exams. By utilizing this article, you will get to know about the various simple interest and compound interest formula, difference between the simple interest and compound interest, simple interest and compound interest formula with example to your reference. Keep in touch with our guidely team to achieve victory in the future competitive examinations.
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Simple Interest and Compound Interest Formula For Bank Exams FAQs
Q. What is the formula for Simple Interest?
A. Simple Interest (SI) = P X R X T100
where, P = Principal
R = Rate of Interest
T = Time
Q. What is the formula for Compound Interest?
A. Compound Interest ( CI ) = P ( 1 + R100 )n  P
Where, P = Principal
R = Rate of Interest
T = Time
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