Module 2 · Agniveer Mathematics
Simple & Compound Interest
SI, CI, rate calculations.
Simple Interest · Compound Interest
Learning Objectives
- Understand the fundamental concepts of Simple & Compound Interest
- Apply key formulas and techniques to solve problems
- Practice with exam-level questions to build speed and accuracy
Key Concepts
Simple & Compound Interest for SSC GD & Agniveer
Interest is the cost of borrowing money. SSC GD and Agniveer exams test simple interest and basic compound interest at the 10th standard level. The concept of principal, rate, time, and amount is essential.
Key Concepts
Simple Interest: SI = (P×R×T)/100. Amount = P + SI. P = Principal, R = Rate% per annum, T = Time in years. Compound Interest (Basic): Amount = P(1+R/100)^T. CI = Amount - P. For 2 years: CI - SI = P(R/100)^2. Installments: Each installment includes principal repayment plus interest on outstanding balance.
Solved Examples
Example 1
Find SI on ₹1000 at 8% per annum for 3 years.
a) ₹200 b) ₹220 c) ₹240 d) ₹260
a) ₹200 b) ₹220 c) ₹240 d) ₹260
Solution: c) ₹240. SI = (1000×8×3)/100 = ₹240.