Bank Exams Exam > Bank Exams Videos > Crash Course for Banking Exams > Simple Interest - 2
Simple Interest - 2 Video Lecture | Crash Course for Banking Exams - Bank Exams
|
521 videos|355 docs|26 tests
|
FAQs on Simple Interest - 2 Video Lecture - Crash Course for Banking Exams - Bank Exams
| 1. What is simple interest and how is it calculated? |  |
Ans. Simple interest is the amount of money charged or earned for a certain period of time on a principal amount. It is calculated using the formula: Simple Interest = (Principal x Rate x Time) / 100.
| 2. Is simple interest the same as compound interest? | |
Ans. No, simple interest and compound interest are different. Simple interest is calculated only on the principal amount, while compound interest is calculated on both the principal and the interest earned. Compound interest usually results in higher returns over time compared to simple interest.
| 3. Can you provide an example of calculating simple interest? | |
Ans. Sure! Let's say you lend someone $5000 at an interest rate of 6% per annum for a period of 3 years. To calculate the simple interest, you can use the formula: (Principal x Rate x Time) / 100.
So, the simple interest would be: (5000 x 6 x 3) / 100 = $900.
| 4. How is simple interest different from annual percentage rate (APR)? | |
Ans. Simple interest is the actual interest charged or earned on a principal amount for a specific period of time. On the other hand, annual percentage rate (APR) includes not only the interest but also any additional fees or charges associated with the loan or investment. APR represents the total cost or return on the principal amount.
| 5. Can simple interest be negative? | |
Ans. No, simple interest cannot be negative. It is always a positive value, representing the amount of interest earned or charged. If the interest rate is negative, it would mean that the principal amount is decreasing over time, resulting in a decrease in the overall value of the investment or loan.
Related Exams
About this Video
|
4.82/5 Rating |
|
Dec 23, 2024 Last updated |
Video Description: Simple Interest - 2 for Bank Exams 2024 is part of Crash Course for Banking Exams preparation.
The notes and questions for Simple Interest - 2 have been prepared according to the Bank Exams exam syllabus.
Information about Simple Interest - 2 covers all important topics for Bank Exams 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Simple Interest - 2.
Introduction of Simple Interest - 2 in English is available as part of our Crash Course for Banking Exams for Bank Exams & Simple Interest - 2 in
Hindi for Crash Course for Banking Exams course. Download more important topics related with notes, lectures and mock test series for
Bank Exams Exam by signing up for free.
Description
Video Lecture & Questions for Simple Interest - 2 Video Lecture | Crash Course for Banking Exams - Bank Exams - Bank Exams full syllabus preparation | Free video for Bank Exams exam to prepare for Crash Course for Banking Exams.
Information about Simple Interest - 2
Here you can find the meaning of Simple Interest - 2 defined & explained in the simplest way possible.
Besides explaining types of Simple Interest - 2 theory, EduRev gives you an ample number of questions to practice Simple Interest - 2 tests,
examples and also practice Bank Exams tests.
|
521 videos|355 docs|26 tests
|
|
Explore Courses for Bank Exams exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
mock tests for examination
,Objective type Questions
,Simple Interest - 2 Video Lecture | Crash Course for Banking Exams - Bank Exams
,shortcuts and tricks
,Exam
,practice quizzes
,video lectures
,Viva Questions
,Semester Notes
,Summary
,Sample Paper
,Previous Year Questions with Solutions
,Important questions
,past year papers
,Simple Interest - 2 Video Lecture | Crash Course for Banking Exams - Bank Exams
,Simple Interest - 2 Video Lecture | Crash Course for Banking Exams - Bank Exams
,Free
,Extra Questions
,MCQs
,study material
,ppt
;
Study Simple Interest - 2 on the App
Students of Bank Exams can study Simple Interest - 2 alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Simple Interest - 2,
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 Simple Interest - 2 is prepared as per the latest Bank Exams 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