Interest - Quantitative Aptitude Tutorial




Interest

Interest is the money paid by a borrower to the lender for the use of money borrowed.

In other words the additional money paid for using other's money is called interest.


Some Key Things about Interest

Principal or Sum

Principal or sum is the money that borrowed or lent out for a certain period.


Time

It is the duration of period for which the money is borrowed.



Amount

The sum of Principal and Interest is called Amount.


Amount = Principal + Interest

Rate of Interest

It is the Interest rate of the principal for a certain period.

Example

For ex; Interest of 9% per Annum.

It means, the interest on principal of Rs. 100 for one year is Rs. 9.


Interest - Aptitude Questions and Answers

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Practice Interest Questions and Answers!