GMAT Exam > GMAT Videos > Quantitative for GMAT > Problem Set 1 : Simple Interest
Problem Set 1 : Simple Interest Video Lecture | Quantitative for GMAT
|
115 videos|106 docs|113 tests
|
FAQs on Problem Set 1 : Simple Interest Video Lecture - Quantitative for GMAT
| 1. What is simple interest? |  |
Ans. Simple interest is a basic formula used to calculate the amount of interest earned or paid on a loan or investment. It is calculated by multiplying the principal amount, the interest rate, and the time period for which the interest is calculated.
| 2. How is simple interest different from compound interest? | |
Ans. Unlike compound interest, which includes interest on both the principal amount and any previously earned interest, simple interest only takes into account the principal amount. This means that the interest earned or paid remains constant over time, whereas compound interest can grow exponentially.
| 3. How can I calculate the future value of an investment using simple interest? | |
Ans. To calculate the future value of an investment using simple interest, you can use the formula: Future Value = Principal + (Principal * Interest Rate * Time). Simply multiply the principal amount by the interest rate and the time period for which the interest is calculated, then add it to the principal.
| 4. What is the significance of the interest rate in simple interest calculations? | |
Ans. The interest rate is a crucial factor in simple interest calculations as it determines the amount of interest earned or paid. A higher interest rate will result in greater interest earned, while a lower interest rate will yield lower interest earnings. It is important to consider the interest rate when making financial decisions involving loans or investments.
| 5. Can simple interest be negative? | |
Ans. No, simple interest cannot be negative. Simple interest represents the amount earned or paid on a loan or investment, and it is always a positive value. If the interest rate is negative, it would indicate that the individual or institution is paying interest rather than earning it.
Related Exams
About this Video
|
2.5K Views |
|
4.61/5 Rating |
|
Dec 24, 2024 Last updated |
Video Description: Problem Set 1 : Simple Interest for GMAT 2024 is part of Quantitative for GMAT preparation.
The notes and questions for Problem Set 1 : Simple Interest have been prepared according to the GMAT exam syllabus.
Information about Problem Set 1 : Simple Interest covers all important topics for GMAT 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Problem Set 1 : Simple Interest.
Introduction of Problem Set 1 : Simple Interest in English is available as part of our Quantitative for GMAT for GMAT & Problem Set 1 : Simple Interest in
Hindi for Quantitative for GMAT course. Download more important topics related with notes, lectures and mock test series for
GMAT Exam by signing up for free.
Description
Video Lecture & Questions for Problem Set 1 : Simple Interest Video Lecture | Quantitative for GMAT - GMAT full syllabus preparation | Free video for GMAT exam to prepare for Quantitative for GMAT.
Information about Problem Set 1 : Simple Interest
Here you can find the meaning of Problem Set 1 : Simple Interest defined & explained in the simplest way possible.
Besides explaining types of Problem Set 1 : Simple Interest theory, EduRev gives you an ample number of questions to practice Problem Set 1 : Simple Interest tests,
examples and also practice GMAT tests.
|
115 videos|106 docs|113 tests
|
|
Explore Courses for GMAT exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Free
,Sample Paper
,video lectures
,Objective type Questions
,Problem Set 1 : Simple Interest Video Lecture | Quantitative for GMAT
,Previous Year Questions with Solutions
,study material
,mock tests for examination
,Important questions
,Viva Questions
,Problem Set 1 : Simple Interest Video Lecture | Quantitative for GMAT
,MCQs
,Problem Set 1 : Simple Interest Video Lecture | Quantitative for GMAT
,shortcuts and tricks
,Summary
,ppt
,Exam
,Semester Notes
,past year papers
,practice quizzes
,Extra Questions
;
Study Problem Set 1 : Simple Interest on the App
Students of GMAT can study Problem Set 1 : Simple Interest alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Problem Set 1 : Simple Interest,
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 Problem Set 1 : Simple Interest is prepared as per the latest GMAT syllabus.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup