The Concept of Compound Interest

Compound interest means the interest on interest in Compound interest is the interest calculated on the principal and the interest accumulated over the previous period. It is different from the simple interest where interest is not added to the principal while calculating the interest during the next period. Compound interest finds its usage in most of the transactions in the banking and finance sectors and also in other areas as well.

Compound interest = Amount-Interest.

C.I = P(1+R⁄100)t- P

Our Research & Findings

#IBPS PO

As a sample we have choosen the last 4 year's (2019, 2018, 2017, 2016) previously asked question papers. In quatitative aptitude section, a total number of questions asked are 35. Out of these 35 questions 1.43% of questions are from Compound Interest.

#SBIPO

As a sample we have choosen the last 4 year's (2019, 2018, 2017, 2016) previously asked question papers. In quatitative aptitude section, a total number of questions asked are 35. Out of these 35 questions 2.14% of questions are from Compound Interest.

#TCSNQT

As a sample we have choosen the last 4 year's (2019, 2018, 2017, 2016) previously asked question papers. In quatitative aptitude section, a total number of questions asked are 26. Out of these 26 questions 8.97% of questions are from Compound Interest.

Teaching Methodology

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Sample Question

A sum of Rs. 10,000 is borrowed and the rate of interest is 10% per annum. What is the compound interest for 2 years?
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