UPSC > CSAT Preparation > Hacks for solving Interest Questions
Hacks for solving Interest Questions Video Lecture - CSAT Preparation - UPSC
|
197 videos|151 docs|200 tests
|
FAQs on Hacks for solving Interest Questions Video Lecture - CSAT Preparation - UPSC
| 1. What are some common formulas used to solve interest questions? |  |
Ans. Some common formulas used to solve interest questions are:
1. Simple Interest (SI) formula: SI = P * R * T / 100, where P is the principal amount, R is the rate of interest, and T is the time period.
2. Compound Interest (CI) formula: CI = P * (1 + R/100)^T - P, where P is the principal amount, R is the rate of interest, and T is the time period.
3. Future Value (FV) formula: FV = P * (1 + R/100)^T, where P is the principal amount, R is the rate of interest, and T is the time period.
4. Present Value (PV) formula: PV = FV / (1 + R/100)^T, where FV is the future value, R is the rate of interest, and T is the time period.
| 2. What is the difference between simple interest and compound interest? | |
Ans. Simple interest is calculated only on the principal amount, while compound interest is calculated on both the principal amount and the accumulated interest. In simple interest, the interest remains constant throughout the time period, while in compound interest, the interest keeps increasing with each compounding period. Compound interest usually yields higher returns compared to simple interest for the same principal amount and time period.
| 3. How can I calculate the time period if the principal amount, rate of interest, and interest are given? | |
Ans. To calculate the time period, you can use the formula: T = (100 * SI) / (P * R), where T is the time period, SI is the simple interest, P is the principal amount, and R is the rate of interest. Similarly, for compound interest, you can use the formula: T = (log(FV/P)) / (log(1 + R/100)), where T is the time period, FV is the future value, P is the principal amount, and R is the rate of interest.
| 4. How can I calculate the principal amount if the rate of interest, time period, and interest are given? | |
Ans. To calculate the principal amount, you can use the formula: P = (100 * SI) / (R * T), where P is the principal amount, SI is the simple interest, R is the rate of interest, and T is the time period. Similarly, for compound interest, you can use the formula: P = FV / (1 + R/100)^T, where P is the principal amount, FV is the future value, R is the rate of interest, and T is the time period.
| 5. Can you provide an example of how to solve a compound interest question? | |
Ans. Sure! Let's say you invest $5000 at a compound interest rate of 8% per annum for a period of 3 years. To calculate the future value, you can use the formula: FV = P * (1 + R/100)^T.
Plugging in the values, we get:
FV = 5000 * (1 + 8/100)^3
FV = 5000 * (1.08)^3
FV = 5000 * 1.2597
FV = $6298.50
Therefore, the future value after 3 years would be $6298.50.
About this Video
This document is useful for
UPSC
,
Bank Exams
,
SSC MTS / SSC GD
,
CAT
,
DSSSB TGT/PGT/PRT
,
RRB NTPC/ASM/CA/TA
,
RRB Group D / RPF Constable
,
NDA
,
Police Constable Exams
,
Police SI Exams
|
4.82/5 Rating |
|
Wizius Careers |
Video Description: Hacks for solving Interest Questions for UPSC 2023 is part of CSAT Preparation preparation.
The notes and questions for Hacks for solving Interest Questions have been prepared according to the UPSC exam syllabus.
Information about Hacks for solving Interest Questions covers all important topics for UPSC 2023 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Hacks for solving Interest Questions.
Introduction of Hacks for solving Interest Questions in English is available as part of our CSAT Preparation for UPSC & Hacks for solving Interest Questions in
Hindi for CSAT Preparation course. Download more important topics related with notes, lectures and mock test series for
UPSC Exam by signing up for free.
Description
Video Lecture & Questions for Hacks for solving Interest Questions Video Lecture | CSAT Preparation - UPSC - UPSC full syllabus preparation | Free video for UPSC exam to prepare for CSAT Preparation.
Information about Hacks for solving Interest Questions
Here you can find the meaning of Hacks for solving Interest Questions defined & explained in the simplest way possible.
Besides explaining types of Hacks for solving Interest Questions theory, EduRev gives you an ample number of questions to practice Hacks for solving Interest Questions tests,
examples and also practice UPSC tests.
|
197 videos|151 docs|200 tests
|
Up next
|
Explore Courses for UPSC exam
|
|
How to Prepare for UPSC
Read our guide to prepare for UPSC which is created by Toppers & the best Teachers
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Download free EduRev App
Track your progress, build streaks, highlight & save important lessons and more!
Related Searches
past year papers
,Viva Questions
,Extra Questions
,MCQs
,Important questions
,mock tests for examination
,video lectures
,Hacks for solving Interest Questions Video Lecture | CSAT Preparation - UPSC
,Previous Year Questions with Solutions
,Exam
,Free
,Semester Notes
,Sample Paper
,Hacks for solving Interest Questions Video Lecture | CSAT Preparation - UPSC
,study material
,practice quizzes
,Objective type Questions
,Hacks for solving Interest Questions Video Lecture | CSAT Preparation - UPSC
,shortcuts and tricks
,ppt
,Summary
;
Study Hacks for solving Interest Questions on the App
Students of UPSC can study Hacks for solving Interest Questions alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Hacks for solving Interest Questions,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Hacks for solving Interest Questions is prepared as per the latest UPSC syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup
