Important Formulae: Interests

• Amount = Principal + Interest
• Simple Interest = PNR/100
• Compound Interest =
• Population formula P’ =
• Depreciation formula = Initial Value x
EduRev's Tip: SI and CI are same for a certain sum of money (P) at a certain rate (r) per annum for the first year. The difference after a period of two years is given by
⇒ Δ = PR2/1002

Growth and Growth Rates
Absolute Growth = Final Value – Initial Value
Growth rate for one year period  =
SAGR or AAGR =
CAGR =
EduRev's Tip: If the time period is more than a year, CAGR < AAGR. This can be used for approximating the value of CAGR instead of calculating it.

The document Important Formulae: Interests | CSAT Preparation - UPSC is a part of the UPSC Course CSAT Preparation.
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## FAQs on Important Formulae: Interests - CSAT Preparation - UPSC

 1. What is the formula to calculate simple interest?
Ans. The formula to calculate simple interest is: I = P * R * T / 100, where I is the interest, P is the principal amount, R is the rate of interest, and T is the time period.
 2. How do you calculate compound interest?
Ans. Compound interest can be calculated using the formula: A = P * (1 + R/100)^T, where A is the final amount, P is the principal amount, R is the rate of interest, and T is the time period.
 3. 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 over time. Compound interest leads to higher returns compared to simple interest.
 4. How do you calculate the rate of interest?
Ans. The rate of interest can be calculated using the formula: R = (I * 100) / (P * T), where R is the rate of interest, I is the interest, P is the principal amount, and T is the time period.
 5. What is the formula for calculating the total amount with compound interest?
Ans. The formula to calculate the total amount with compound interest is: A = P * (1 + R/100)^T, where A is the final amount, P is the principal amount, R is the rate of interest, and T is the time period.

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