{"id":102812,"date":"2024-07-19T17:42:40","date_gmt":"2024-07-19T12:12:40","guid":{"rendered":"https:\/\/www.practicemock.com\/blog\/?p=102812"},"modified":"2024-07-19T17:42:41","modified_gmt":"2024-07-19T12:12:41","slug":"simple-and-compound-interest-for-ibps-rrb-exam","status":"publish","type":"post","link":"https:\/\/www.practicemock.com\/blog\/simple-and-compound-interest-for-ibps-rrb-exam\/","title":{"rendered":"Simple and Compound Interest For IBPS RRB Exam, Check Questions"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"yoast-breadcrumbs\"><span><span><a href=\"https:\/\/www.practicemock.com\/blog\/\">Home<\/a><\/span> \u00bb <span><a href=\"https:\/\/www.practicemock.com\/blog\/category\/banking-insurance\/\">Banking &amp; Insurance<\/a><\/span> \u00bb <span class=\"breadcrumb_last\" aria-current=\"page\">Simple and Compound Interest For IBPS RRB Exam<\/span><\/span><\/div>\n\n\n<p><\/p>\n\n\n\n<p><strong>Simple and Compound Interest For IBPS RRB 2024 Exam:<\/strong> Simple and Compound Interest is an easy topic that all candidates must have done in the 5th and 6th class. If the candidates understand it well, then it can be a scoring topic. Interest calculation is a fundamental concept in banking and finance, which is essential for various competitive exams like IBPS RRB 2024. In this article, we are providing an in-depth understanding of simple and compound interest, as well as provide practical questions to help you prepare effectively.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.practicemock.com\/ibps-rrb-officer-test-series\/?ref=11481\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Take a IBPS RRB PO Free Mock Test &amp; Know Your Week Areas <\/strong><\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.practicemock.com\/ibps-rrb-assistant-test-series\/?ref=11481\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Take 1 IBPS RRB Clerk Free Mock Test &amp; Measure Your Performance in Numbers<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Simple Interest<\/h2>\n\n\n\n<p><strong>Definition of Simple Interest-<\/strong> Simple Interest (SI) is interest calculated at a fixed interest rate on the principal amount (initial amount of money) for a fixed period. It is straightforward and does not consider the effect of compounding.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.practicemock.com\/blog\/ibps-clerk-notification\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>IBPS RRB Notification 2024 &#8211; Click To Check <\/strong><\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Formula of Simple Interest -:<\/strong><\/p>\n\n\n\n<p>The formula for calculating simple interest is:&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXeSmNa5McNjpOPuYTx_XVtZKkZiBIg5_c1HOyDPn1WbZ1PnQSm1zEzuTe3KXsyC7JZMEqVYZZGu6MoURI1XJNTC6T1tbarwAvh4EbWbH1RPWffEHJsbqDiFzOBEmQN996z5a1IpI5QyD4yhCqxdwEJD2hnR?key=sPDdJPwWGHAOSuPsxabJYw\" alt=\"\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXfgje2u-nL-STHR-G1YqVjSx4xi32e26yIN4R0qlDL1zCMZ7EjWEs7tr5klfEFxqJy5usEaRSzUqQE7giGHbmOHPcMTVIsoWYSP16CIu2J8NPi1HJoWDR-D7b3jpwpMDGM0S0nsRdmPtje-SlwZOCDDPIQ?key=sPDdJPwWGHAOSuPsxabJYw\" alt=\"\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>P = Principal amount<\/li>\n\n\n\n<li>R= Rate of interest per annum<\/li>\n\n\n\n<li>T= Time period<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Compound Interest<\/h2>\n\n\n\n<p><strong>Definition-<\/strong> Compound interest (CI) is interest paid on the initial principal amount plus all interest from previous periods. This is different from simple interest because in this the interest is not added to the principal to arrive at the next period&#8217;s interest.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Formula<\/strong><\/h3>\n\n\n\n<p>The formula for calculating compound interest is: <\/p>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" width=\"301\" height=\"71\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXdmNw2KZczUwjB1NbEpgKuiOTnq45J3__hlv3o3jVLs05rL3JZJXt6djyW2AD7DNnQ-NzrukO4gzNZflEyP00Rx3Sw0JFQD_McwIkZBfWBOB6f60-K1eB0JLX8Z09VTNkpcW1pPZMtkr8z0-2SodfJNuVQM?key=sPDdJPwWGHAOSuPsxabJYw\"><\/p>\n\n\n\n<p>Where,<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A = Amount<\/li>\n\n\n\n<li>P = Principal<\/li>\n\n\n\n<li>r = Rate of interest<\/li>\n\n\n\n<li>n = Number of times interest is compounded per year<\/li>\n\n\n\n<li>t = Time (in years)<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Practical Question For Simple Interest and Compound Interest<\/h2>\n\n\n\n<p><strong>Question 1:<\/strong>\u00a0Vishal deposits Rs. 600000 at \u20182x\u2019% compound interest whereas Raj deposits an amount equal to half of Vishal\u2019s amount at \u20183x\u2019% simple interest. If the sum of their accumulated amounts will become Rs. 1028160 after 2 years, then find the rate of simple interest?<\/p>\n\n\n\n<p>A) 6%<\/p>\n\n\n\n<p>B) 3%<\/p>\n\n\n\n<p>C) 15%<\/p>\n\n\n\n<p>D) 9%<\/p>\n\n\n\n<p>E) None of the above<\/p>\n\n\n\n<p><strong>Question 2:<\/strong>&nbsp;A man deposited Rs. \u2018x\u2019 in a scheme which offers compound interest at the rate of 10% per annum. If the amount becomes Rs. 21780 and Rs. 23958 at the end of 2<sup>nd<\/sup>&nbsp;year and 3<sup>rd<\/sup>&nbsp;year respectively, then find the value of \u2018x\u2019.<\/p>\n\n\n\n<p>A) Rs. 18500<\/p>\n\n\n\n<p>B) Rs. 17000<\/p>\n\n\n\n<p>C) Rs. 19000<\/p>\n\n\n\n<p>D) Rs. 20000<\/p>\n\n\n\n<p>E) None of these<\/p>\n\n\n\n<p><strong>Question 3:<\/strong>&nbsp;Devraj invested some amount at the rate of 12% per annum on simple interest for 2 years. If he had invested the same amount in a scheme offering the same interest rate for 2 years but compounded annually, he would have got Rs. 216 more. Find the amount invested by him.<\/p>\n\n\n\n<p>A) Rs. 20000<\/p>\n\n\n\n<p>B) Rs. 15000<\/p>\n\n\n\n<p>C) Rs. 24000<\/p>\n\n\n\n<p>D) Rs. 30000<\/p>\n\n\n\n<p>E) None of these<\/p>\n\n\n\n<p><strong>Question 4:<\/strong>&nbsp;The simple interest earned on an amount of Rs. 2800 at rate of (x + 2)% per annum for 3 years is equal to the simple interest earned on an amount of Rs. 2400 at rate of 7% per annum for 4 years. Find the simple interest earned on Rs. 3200 at rate of 8% per annum after \u2018x\u2019 years.<\/p>\n\n\n\n<p>A) Rs. 1280<\/p>\n\n\n\n<p>B) Rs. 1536<\/p>\n\n\n\n<p>C) Rs. 1792<\/p>\n\n\n\n<p>D) Rs. 2048<\/p>\n\n\n\n<p>E) Rs. 2304<\/p>\n\n\n\n<p><strong>Question 5:<\/strong>&nbsp;Amit invested Rs. (x + 200) at simple interest rate of 10% per annum for 3 years in scheme 1, and Rs. (x + 600) at simple interest rate of 8% per annum for 2 years in scheme 2. If he obtained interest of Rs. 272 more in scheme 1 than scheme 2, then find the average of the two given amounts.<\/p>\n\n\n\n<p>A) Rs. 2300<\/p>\n\n\n\n<p>B) Rs. 2400<\/p>\n\n\n\n<p>C) Rs. 2500<\/p>\n\n\n\n<p>D) Rs. 2600<\/p>\n\n\n\n<p>E) Rs. 2800<\/p>\n\n\n\n<p><strong>Question 6:<\/strong>&nbsp;If the difference between simple interest and compound interest on an amount at the rate of 10% per annum for 2 years is Rs. 82, then find the simple interest earned on the same amount for the rate of 8% per annum for 2 years.<\/p>\n\n\n\n<p>A) Rs. 916<\/p>\n\n\n\n<p>B) Rs. 1056<\/p>\n\n\n\n<p>C) Rs. 1215<\/p>\n\n\n\n<p>D) Rs. 1312<\/p>\n\n\n\n<p>E) Rs. 1580<\/p>\n\n\n\n<p><strong>Question 7:<\/strong>&nbsp;Dinesh invested a total sum of Rs. 3200 in scheme A and scheme B in the ratio of 3:x respectively. Scheme A and scheme B is offering a simple interest at the rate of 12% and 8% per annum respectively. If the simple interest earned from scheme A after 10 years is equal to the interest earned from scheme B after 9 years, then find the value of \u2018x\u2019.<\/p>\n\n\n\n<p>A) 1<\/p>\n\n\n\n<p>B) 2<\/p>\n\n\n\n<p>C) 3<\/p>\n\n\n\n<p>D) 4<\/p>\n\n\n\n<p>E) 5<\/p>\n\n\n\n<p><strong>Question 8:<\/strong>&nbsp;Mr. Singh invested a certain sum of money in a scheme offering simple interest at the rate of 12% p.a. for two years. Mr. Sharma invested Rs. 3000 more than Mr. Singh\u2019s investment in another scheme offering compound interest at the rate of 12% p.a. for two years. Find the average interest earned by Mr. Singh and Mr. Sharma after two years, if the difference between the interests earned by them is Rs. 936.<\/p>\n\n\n\n<p>A) Rs. 3,836<\/p>\n\n\n\n<p>B) Rs. 3,272<\/p>\n\n\n\n<p>C) Rs. 3,624<\/p>\n\n\n\n<p>D) Rs. 3,348<\/p>\n\n\n\n<p>E) None of these<\/p>\n\n\n\n<p><strong>Question 9:<\/strong>&nbsp;Rajesh had deposited Rs. 190000 at 7% simple interest for \u2018x\u2019 years. If it is known that his accumulated amount was Rs. 243200 in \u2018x\u2019 years then find \u2018x\u2019.<\/p>\n\n\n\n<p>A) 5<\/p>\n\n\n\n<p>B) 7<\/p>\n\n\n\n<p>C) 2<\/p>\n\n\n\n<p>D) 4<\/p>\n\n\n\n<p>E) None of the above<\/p>\n\n\n\n<p><strong>Question 10:<\/strong>&nbsp;Farhan and Amrindar deposit Rs. \u20184x + 300\u2019 at 25% p.a. and Rs. \u20183y + 500\u2019 at 20% p.a., respectively at simple interest. Amrindar deposits the amount after one year of Farhan and after 3 years his interest becomes equivalent to Farhan\u2019s interest. Find x:y.&nbsp;&nbsp;<\/p>\n\n\n\n<p>A) 10:19<\/p>\n\n\n\n<p>B) 7:16<\/p>\n\n\n\n<p>C) 11:23<\/p>\n\n\n\n<p>D) 9:20<\/p>\n\n\n\n<p>E) None of these<\/p>\n\n\n\n<p><strong>Solution 1: D)<\/strong><\/p>\n\n\n\n<p>Amount deposited by Raj = 600000 \/ 2 = Rs. 300000<\/p>\n\n\n\n<p>According to the question,<\/p>\n\n\n\n<p>600000 \u00d7 [1 + (2x\/100)]<sup>2<\/sup>&nbsp;+ 300000 \u00d7 [1 + (3x\/100) \u00d7 2] = 1028160<\/p>\n\n\n\n<p>60 \u00d7 [100 + 2x]<sup>2<\/sup>&nbsp;+ 3000 \u00d7 [100 + 6x] = 1028160<\/p>\n\n\n\n<p>60 \u00d7 [10000 + 4x<sup>2<\/sup>&nbsp;+ 400x] + 300000 + 18000x = 1028160<\/p>\n\n\n\n<p>600000 + 240x<sup>2<\/sup>&nbsp;+ 24000x + 300000 + 18000x = 1028160<\/p>\n\n\n\n<p>240x<sup>2<\/sup>&nbsp;+ 42000x \u2013 128160 = 0<\/p>\n\n\n\n<p>x<sup>2<\/sup>&nbsp;+ 175x \u2013 534 = 0<\/p>\n\n\n\n<p>On solving, x = 3<\/p>\n\n\n\n<p>So, rate of simple interest = 3x = 9%<\/p>\n\n\n\n<p>Hence, option d.<\/p>\n\n\n\n<p><strong>Solution 2: E)<\/strong><\/p>\n\n\n\n<p>According to question,<\/p>\n\n\n\n<p>x \u00d7 (1.1)<sup>3<\/sup>&nbsp;\u2013 x \u00d7 (1.1)<sup>2<\/sup>&nbsp;= 23958 \u2013 21780<\/p>\n\n\n\n<p>1.331x \u2013 1.21x = 2178<\/p>\n\n\n\n<p>0.121x = 2178<\/p>\n\n\n\n<p>x = Rs. 18000<\/p>\n\n\n\n<p>Hence, option e.<\/p>\n\n\n\n<p><strong>Solution 3: B)<\/strong><\/p>\n\n\n\n<p>Let the principal amount invested be Rs. \u2018x\u2019.<\/p>\n\n\n\n<p>According to question,<\/p>\n\n\n\n<p>x \u00d7 [(1.12)<sup>2<\/sup>&nbsp;\u2013 1] \u2013 (x \u00d7 12 \u00d7 0.02) = 216<\/p>\n\n\n\n<p>0.2544x \u2013 0.24x = 216<\/p>\n\n\n\n<p>0.0144x = 216<\/p>\n\n\n\n<p>x = Rs. 15000<\/p>\n\n\n\n<p>So, the initial amount invested by him = Rs. 15000<\/p>\n\n\n\n<p>Hence, option b.<\/p>\n\n\n\n<p><strong>Solution 4: B)<\/strong><\/p>\n\n\n\n<p>According to question,<\/p>\n\n\n\n<p>(2800 \u00d7 (x + 2) \u00d7 3)\/100 = (2400 \u00d7 7 \u00d7 4)\/100<\/p>\n\n\n\n<p>28 \u00d7 (x + 2) \u00d7 3 = 24 \u00d7 7 \u00d7 4<\/p>\n\n\n\n<p>(x + 2) = 8<\/p>\n\n\n\n<p>x = 6<\/p>\n\n\n\n<p>Therefore, required simple Interest = (3200 \u00d7 8 \u00d7 6)\/100 = Rs. 1536<\/p>\n\n\n\n<p>Hence, option b.<\/p>\n\n\n\n<p><strong>Solution 5: D)<\/strong><\/p>\n\n\n\n<p>According to question,<\/p>\n\n\n\n<p>(x + 200) \u00d7 10 \u00d7 3 \u2013 (x + 600) \u00d7 8 \u00d7 2 = 272 \u00d7 100<\/p>\n\n\n\n<p>30x + 6000 \u2013 16x \u2013 9600 = 27200<\/p>\n\n\n\n<p>14x = 27200 + 3600<\/p>\n\n\n\n<p>14x = 30800<\/p>\n\n\n\n<p>x = 30800\/14<\/p>\n\n\n\n<p>x = 2200<\/p>\n\n\n\n<p>So, amount invested by Amit are Rs. 2400 and Rs. 2800.<\/p>\n\n\n\n<p>Therefore, required average = (2400 + 2800)\/2 = Rs. 2600<\/p>\n\n\n\n<p>Hence, option d.<\/p>\n\n\n\n<p><strong>Solution 6: D)<\/strong><\/p>\n\n\n\n<p>Let, principal amount be Rs. P.<\/p>\n\n\n\n<p>According to question,<\/p>\n\n\n\n<p>P \u00d7 [10% + 10% + {(10 \u00d7 10)\/100}%] \u2013 P \u00d7 10% \u00d7 2 = 82<\/p>\n\n\n\n<p>P [21% &#8211; 20%] = 82<\/p>\n\n\n\n<p>P = Rs. 8200<\/p>\n\n\n\n<p>Therefore, required interest = 8200 \u00d7 8% \u00d7 2 = Rs. 1312<\/p>\n\n\n\n<p>Hence, option d.<\/p>\n\n\n\n<p><strong>Solution 7: E)<\/strong><\/p>\n\n\n\n<p>Amount invested in scheme A = (3\/(3 + x)) \u00d7 3200 = Rs.9600\/(3 + x)<\/p>\n\n\n\n<p>Amount invested in scheme B = Rs. (x\/(3 + x)) \u00d7 3200 = Rs. 3200x\/(3 + x)<\/p>\n\n\n\n<p>According to question,<\/p>\n\n\n\n<p>[9600\/ (3 + x)] \u00d7 0.12 \u00d7 10 = [3200x\/ (3 + x)] \u00d7 0.08 \u00d7 9<\/p>\n\n\n\n<p>2304x = 11520, x = 5<\/p>\n\n\n\n<p>So, the value of \u2018x\u2019 is 5.<\/p>\n\n\n\n<p>Hence, option e.<\/p>\n\n\n\n<p><strong>Solution 8: D)<\/strong><\/p>\n\n\n\n<p>Let the amount invested by Mr. Singh be Rs. \u2018x\u2019<\/p>\n\n\n\n<p>Interest earned by Mr. Singh after two years = (x \u00d7 0.12 \u00d7 2) = Rs. 0.24x<\/p>\n\n\n\n<p>Amount invested by Mr. Sharma = Rx. (x + 3000)<\/p>\n\n\n\n<p>Interest earned by Mr. Sharma = (x + 3000) \u00d7 {(1 + 0.12)<sup>2<\/sup>&nbsp;\u2013 1} = (x + 3000) \u00d7 0.2544<\/p>\n\n\n\n<p>= Rs. (0.2544x + 763.2)<\/p>\n\n\n\n<p>According to question,<\/p>\n\n\n\n<p>0.2544x + 763.2 \u2013 0.24x = 936<\/p>\n\n\n\n<p>0.0144x = 172.8<\/p>\n\n\n\n<p>x = 12000<\/p>\n\n\n\n<p>So, the interest earned by Mr. Singh = 0.24 \u00d7 12000 = Rs. 2,880<\/p>\n\n\n\n<p>Interest earned by Mr. Sharma = 0.2544 \u00d7 12000 + 763.2 = 3052.8 + 763.2 = Rs. 3,816<\/p>\n\n\n\n<p>Average interest earned by Mr. Singh and Mr. Sharma = (2880 + 3816) \u00f7 2 = Rs. 3,348<\/p>\n\n\n\n<p>Hence, option d.<\/p>\n\n\n\n<p><strong>Solution 9: D)<\/strong><\/p>\n\n\n\n<p>According to the question,<\/p>\n\n\n\n<p>243200 = 190000 + 190000 \u00d7 0.07 \u00d7 x<\/p>\n\n\n\n<p>243200 = 190000 + 13300 \u00d7 x<\/p>\n\n\n\n<p>53200 = 13300 \u00d7 x<\/p>\n\n\n\n<p>x = 4<\/p>\n\n\n\n<p>Hence, option d.<\/p>\n\n\n\n<p><strong>Solution 10: D)<\/strong><\/p>\n\n\n\n<p>So, {(4x + 300) \u00d7 25 \u00d7 4}\/100 = {(3y + 500) \u00d7 20 \u00d7 3}\/100<\/p>\n\n\n\n<p>4x + 300 = (9y + 1500)\/5<\/p>\n\n\n\n<p>20x + 1500 = 9y + 1500<\/p>\n\n\n\n<p>20x = 9y<\/p>\n\n\n\n<p>x : y = 9 : 20<\/p>\n\n\n\n<p>Hence, option d.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.practicemock.com\/blog\/ibps-rrb-po-clerk-pdf-course\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><strong>IBPS RRB PO\/Clerk PDF Course \u2013 Click To Check<\/strong><\/strong><\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Check Related Blogs For IBPS RRB PO 2024<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td colspan=\"2\"><strong>Check Related IBPS RRB PO Blogs<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/www.practicemock.com\/blog\/ibps-rrb-po\/ibps-rrb-po-syllabus\/\" target=\"_blank\" rel=\"noreferrer noopener\">IBPS RRB PO Syllabus 2024<\/a><\/td><td><a href=\"https:\/\/www.practicemock.com\/blog\/ibps-rrb-po\/ibps-rrb-po-cut-off\/\" target=\"_blank\" rel=\"noreferrer noopener\">IBPS RRB PO Cut Off 2024<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/www.practicemock.com\/blog\/ibps-rrb-po\/ibps-rrb-po-exam-pattern\/\" target=\"_blank\" rel=\"noreferrer noopener\">IBPS RRB PO Exam Pattern 2024<\/a><\/td><td><a href=\"https:\/\/www.practicemock.com\/blog\/ibps-rrb-po\/ibps-rrb-po-previous-year-question-paper\/\" target=\"_blank\" rel=\"noreferrer noopener\">IBPS RRB PO Previous Year Question Paper 2024<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/www.practicemock.com\/blog\/ibps-rrb-po\/ibps-rrb-po-salary\/\" target=\"_blank\" rel=\"noreferrer noopener\">IBPS RRB PO Salary 2024<\/a><\/td><td><a href=\"https:\/\/www.practicemock.com\/blog\/last-minute-preparation-tips-for-ibps-rrb-exam-2024\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last Minute Tips For IBPS RRB Exam 2024<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Check Related Blogs For IBPS RRB Clerk 2024<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td colspan=\"2\"><strong>Check Related Blogs For IBPS RRB Clerk 2024<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/www.practicemock.com\/blog\/ibps-rrb-clerk\/ibps-rrb-clerk-syllabus\/\" target=\"_blank\" rel=\"noreferrer noopener\">IBPS RRB Clerk Syllabus 2024<\/a><\/td><td><a href=\"https:\/\/www.practicemock.com\/blog\/ibps-rrb-clerk\/ibps-rrb-clerk-cut-off\/\" target=\"_blank\" rel=\"noreferrer noopener\">IBPS RRB Clerk Cut Off 2024<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/www.practicemock.com\/blog\/ibps-rrb-clerk\/ibps-rrb-clerk-exam-pattern\/\" target=\"_blank\" rel=\"noreferrer noopener\">IBPS RRB Clerk Exam Pattern 2024<\/a><\/td><td><a href=\"https:\/\/www.practicemock.com\/blog\/ibps-rrb-exam-days-guidelines\/\" target=\"_blank\" rel=\"noreferrer noopener\">IBPS RRB Exam Days Guidelines<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/www.practicemock.com\/blog\/ibps-rrb-clerk\/ibps-rrb-clerk-salary\/\" target=\"_blank\" rel=\"noreferrer noopener\">IBPS RRB Clerk Salary 2024<\/a><\/td><td><a href=\"https:\/\/www.practicemock.com\/blog\/ibps-rrb-clerk\/ibps-rrb-clerk-previous-year-question-paper\/\" target=\"_blank\" rel=\"noreferrer noopener\">IBPS RRB Clerk Previous Year Question Paper 2024<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Simple and Compound Interest For IBPS RRB Exam FAQ<\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1721390005139\"><strong class=\"schema-faq-question\">What is Simple Interest (SI)?<\/strong> <p class=\"schema-faq-answer\">Simple Interest is the interest calculated on the principal amount for a certain period at a fixed rate of interest.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1721390141906\"><strong class=\"schema-faq-question\">What is Compound Interest (CI)?<\/strong> <p class=\"schema-faq-answer\">Compound Interest is the interest calculated on the initial principal, which also includes all the accumulated interest from previous periods.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1721390188382\"><strong class=\"schema-faq-question\">How do you calculate the total amount (A) using Simple Interest?<\/strong> <p class=\"schema-faq-answer\">The total amount is calculated as: A= P+SI<\/p> <\/div> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Candidates boost your preparation for Simple and Compound Interest For IBPS RRB Exam along with the practical question given in the article.<\/p>\n","protected":false},"author":13,"featured_media":102818,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[22],"tags":[],"class_list":["post-102812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-insurance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Simple and Compound Interest For IBPS RRB Exam, Check Questions<\/title>\n<meta name=\"description\" content=\"Candidates boost your preparation for Simple and Compound Interest For IBPS RRB Exam along with the practical question given in the article.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.practicemock.com\/blog\/simple-and-compound-interest-for-ibps-rrb-exam\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Simple and Compound Interest For IBPS RRB Exam, Check Questions\" \/>\n<meta property=\"og:description\" content=\"Candidates boost your preparation for Simple and Compound Interest For IBPS RRB Exam along with the practical question given in the article.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.practicemock.com\/blog\/simple-and-compound-interest-for-ibps-rrb-exam\/\" \/>\n<meta property=\"og:site_name\" content=\"Practicemock\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-19T12:12:40+00:00\" \/>\n<meta property=\"article:modified_time\" 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I cleared many bank exams time by time but couldn't join because of my passion towards writing. I write blogs to help aspirants prepare for Banking and Insurance exams. These blogs turn out to be a one-stop destination for comprehensive information on some of the biggest competitive exams like SBI PO\/Clerk, IBPS PO\/Clerk, IBPS RRB PO\/Clerk and RBI. My ultimate goal is to provide accurate and easy-to-understand information, covering topics like exam patterns, syllabus, study techniques, and more. Join me on this journey of knowledge!","url":"https:\/\/www.practicemock.com\/blog\/author\/ss8860409gmail-com\/"},{"@type":"Question","@id":"https:\/\/www.practicemock.com\/blog\/simple-and-compound-interest-for-ibps-rrb-exam\/#faq-question-1721390005139","position":1,"url":"https:\/\/www.practicemock.com\/blog\/simple-and-compound-interest-for-ibps-rrb-exam\/#faq-question-1721390005139","name":"What is Simple Interest (SI)?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Simple Interest is the interest calculated on the principal amount for a certain period at a fixed rate of interest.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.practicemock.com\/blog\/simple-and-compound-interest-for-ibps-rrb-exam\/#faq-question-1721390141906","position":2,"url":"https:\/\/www.practicemock.com\/blog\/simple-and-compound-interest-for-ibps-rrb-exam\/#faq-question-1721390141906","name":"What is Compound Interest (CI)?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Compound Interest is the interest calculated on the initial principal, which also includes all the accumulated interest from previous periods.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.practicemock.com\/blog\/simple-and-compound-interest-for-ibps-rrb-exam\/#faq-question-1721390188382","position":3,"url":"https:\/\/www.practicemock.com\/blog\/simple-and-compound-interest-for-ibps-rrb-exam\/#faq-question-1721390188382","name":"How do you calculate the total amount (A) using Simple Interest?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The total amount is calculated as: A= P+SI","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"uagb_featured_image_src":{"full":["https:\/\/www.practicemock.com\/blog\/wp-content\/uploads\/2024\/07\/Simple-and-Compound-Interest-For-IBPS-RRB.png",1280,768,false],"thumbnail":["https:\/\/www.practicemock.com\/blog\/wp-content\/uploads\/2024\/07\/Simple-and-Compound-Interest-For-IBPS-RRB.png",150,90,false],"medium":["https:\/\/www.practicemock.com\/blog\/wp-content\/uploads\/2024\/07\/Simple-and-Compound-Interest-For-IBPS-RRB.png",300,180,false],"medium_large":["https:\/\/www.practicemock.com\/blog\/wp-content\/uploads\/2024\/07\/Simple-and-Compound-Interest-For-IBPS-RRB.png",640,384,false],"large":["https:\/\/www.practicemock.com\/blog\/wp-content\/uploads\/2024\/07\/Simple-and-Compound-Interest-For-IBPS-RRB.png",640,384,false],"1536x1536":["https:\/\/www.practicemock.com\/blog\/wp-content\/uploads\/2024\/07\/Simple-and-Compound-Interest-For-IBPS-RRB.png",1280,768,false],"2048x2048":["https:\/\/www.practicemock.com\/blog\/wp-content\/uploads\/2024\/07\/Simple-and-Compound-Interest-For-IBPS-RRB.png",1280,768,false],"web-stories-poster-portrait":["https:\/\/www.practicemock.com\/blog\/wp-content\/uploads\/2024\/07\/Simple-and-Compound-Interest-For-IBPS-RRB.png",640,384,false],"web-stories-publisher-logo":["https:\/\/www.practicemock.com\/blog\/wp-content\/uploads\/2024\/07\/Simple-and-Compound-Interest-For-IBPS-RRB.png",96,58,false],"web-stories-thumbnail":["https:\/\/www.practicemock.com\/blog\/wp-content\/uploads\/2024\/07\/Simple-and-Compound-Interest-For-IBPS-RRB.png",150,90,false]},"uagb_author_info":{"display_name":"Sweta Singh","author_link":"https:\/\/www.practicemock.com\/blog\/author\/ss8860409gmail-com\/"},"uagb_comment_info":24,"uagb_excerpt":"Candidates boost your preparation for Simple and Compound Interest For IBPS RRB Exam along with the practical question given in the article.","_links":{"self":[{"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/posts\/102812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/comments?post=102812"}],"version-history":[{"count":0,"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/posts\/102812\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/media\/102818"}],"wp:attachment":[{"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/media?parent=102812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/categories?post=102812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/tags?post=102812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}