Mechanical Engineering Exam > Mechanical Engineering Videos > General Aptitude for GATE > Short Trick Simple & Compound Interest
Short Trick Simple & Compound Interest Video Lecture | General Aptitude for GATE - Mechanical Engineering
FAQs on Short Trick Simple & Compound Interest Video Lecture - General Aptitude for GATE - Mechanical Engineering
| 1. What is the formula for calculating Simple Interest? |  |
Ans. The formula for calculating Simple Interest (SI) is given by:
\[ SI = \frac{P \times R \times T}{100} \]
where \( P \) is the principal amount, \( R \) is the rate of interest per annum, and \( T \) is the time in years.
| 2. How is Compound Interest different from Simple Interest? | |
Ans. Compound Interest (CI) is calculated on the initial principal as well as on the accumulated interest from previous periods. In contrast, Simple Interest is calculated only on the principal amount throughout the investment period. The formula for Compound Interest is:
\[ A = P \left(1 + \frac{R}{100}\right)^T \]
where \( A \) is the total amount after interest, \( P \) is the principal, \( R \) is the rate, and \( T \) is the time.
| 3. How do you calculate Compound Interest for multiple years? | |
Ans. To calculate Compound Interest for multiple years, you use the formula:
\[ A = P \left(1 + \frac{R}{100}\right)^T \]
Then, the Compound Interest can be found by subtracting the principal from the total amount:
\[ CI = A - P \]
| 4. What is the best strategy to quickly calculate interest in exams? | |
Ans. A good strategy to quickly calculate interest in exams is to remember the formulas for SI and CI and practice solving problems using shortcuts, such as calculating percentages and using approximations for larger numbers. Familiarity with common values and patterns in interest calculations can significantly speed up the process.
| 5. Can you explain how to convert between Simple and Compound Interest? | |
Ans. Converting between Simple and Compound Interest isn't straightforward, as they are based on different principles. However, to compare them, you can calculate the Compound Interest for the same principal, rate, and time, and then compare the results with the Simple Interest. For a specific period, if you want to see how much more CI is compared to SI, you can use both formulas and see the difference.
About this Video
4.74/5
Rating
Oct 18, 2025
Last updated
Related Exams
Video Description: Short Trick Simple & Compound Interest for Mechanical Engineering 2025 is part of General Aptitude for GATE preparation.
The notes and questions for Short Trick Simple & Compound Interest have been prepared according to the Mechanical Engineering exam syllabus.
Information about Short Trick Simple & Compound Interest covers all important topics for Mechanical Engineering 2025 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Short Trick Simple & Compound Interest.
Introduction of Short Trick Simple & Compound Interest in English is available as part of our General Aptitude for GATE for Mechanical Engineering & Short Trick Simple & Compound Interest in
Hindi for General Aptitude for GATE course. Download more important topics related with notes, lectures and mock test series for
Mechanical Engineering Exam by signing up for free.
Description
Video Lecture & Questions for Short Trick Simple & Compound Interest Video Lecture | General Aptitude for GATE - Mechanical Engineering - Mechanical Engineering full syllabus preparation | Free video for Mechanical Engineering exam to prepare for General Aptitude for GATE.
Information about Short Trick Simple & Compound Interest
Here you can find the meaning of Short Trick Simple & Compound Interest defined & explained in the simplest way possible.
Besides explaining types of Short Trick Simple & Compound Interest theory, EduRev gives you an ample number of questions to practice Short Trick Simple & Compound Interest tests,
examples and also practice Mechanical Engineering tests.
Related Searches
MCQs
,Viva Questions
,Summary
,Exam
,Semester Notes
,video lectures
,Short Trick Simple & Compound Interest Video Lecture | General Aptitude for GATE - Mechanical Engineering
,Short Trick Simple & Compound Interest Video Lecture | General Aptitude for GATE - Mechanical Engineering
,Previous Year Questions with Solutions
,Extra Questions
,Sample Paper
,Free
,Objective type Questions
,Short Trick Simple & Compound Interest Video Lecture | General Aptitude for GATE - Mechanical Engineering
,shortcuts and tricks
,Important questions
,study material
,mock tests for examination
,ppt
,practice quizzes
,past year papers
;
Study Short Trick Simple & Compound Interest on the App
Students of Mechanical Engineering can study Short Trick Simple & Compound Interest alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Short Trick Simple & Compound 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 Short Trick Simple & Compound Interest is prepared as per the latest Mechanical Engineering syllabus.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up
within 7 days!
within 7 days!
Takes less than 10 seconds to signup