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# Short Tricks to Solve Compound Interest Questions for IPM and DU JAT 2023

Author : Palak Khanna

Updated On : March 4, 2023

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We were all taught to calculate compound interest at a young age and have solved several problems in our Mathematics classes. We know that compound interest is the addition of interest to the principal sum of a loan or deposit.

In simple words, we can say that compound interest is the interest of your invested money + interest (interest of your invested money).

Similarly, simple interest means when you get interested in your principal amount only. However, the compound interest is the interest on the principal sum and the interest earned on it.

Solving these are quite easy as we are used to solving them from school days, nonetheless solving them faster holds more priority during the entrance exams like IPM and DUJAT.

The formula of compound interest is:

A = P{1 + R/100} nᵀ

Here T = Time

A = Amount

P = Principal

R = Rate of Interest

A = Amount = Principal + Compound Interest

N = Number of times interest applied per time period.

## Short Tricks to Solve Compound Interest Questions for IPM and DU JAT

There are some of the questions mentioned below with their solution that will help you to get the short tricks to solve compound interest questions for IPM and DU JAT 2023 Exam

Example: Calculate the difference in CI for 3 and 2 years.

P = 6000, R = 5% P.A,

The table below gives simple calculations by our experts in SuperGrads to solve CI.

 1st Year 2nd Year 3rd Year Calculate 5% of 6000 i.e 300 300 Similarly, calculate 5% of 300 ie 15 300 Similarly, calculate 5% of 600 ie 30 Similarly, calculate 5% of 15 ie 0.75

You might want also want to read How to solve Syllogism Questions for IPMAT & DU JAT

For a detailed explanation watch our experts from SuperGrads

Now calculate the difference of 3-2 years. CI of only 3rd year. (As interest of 2 years is already included in 3 years. Therefore take only the last year)

CI of only 3rd year = 330.75 (Sum of the last row =300+30+.75)

Similarly, we have a set of sample questions for you to practise. Contact our experts in case of any confusion during solving these CI problems.

• Question 1: If P = 10000/-, T = 2 years 6 months, rate of interest = 20% compounded annually. Find Amount?
• Question 2: If P = 20,000, Rate of Interest = 3% p.a. Time = 2 years 3 months.Find Compound interest?  You might also want to know about How To Solve Algebra Questions For IPMAT & DU JAT

• Question 3: If P = 7.30 lacs, Rate of Interest = 10% p.a. T = 2 years and 2 days. Find Compound Interest?
• Question 4: If P = 18000, Rate of Interest = 16.66%, Time = 1 year 73 days.  Find Compound Interest?
• Question 5: If P = 10400, Rate of Interest = 5%, Time = 1 year and 6 weeks. Find interest compounded annually.
• Question 6: If P = 8000, Time = 3 years, Rate of Interest = 1%, 2%, and 3%. Find CI – SI = ?
• Question 7: The differences between Simple interest and compound interest on a certain sum of money at 5% for 2 years are Rs. 3. Find the sum?
• Question 8: If the difference between Compound interest and simple interest on a certain sum of money at 5% p.a. for 3 years is Rs. 122. Find the sum?

You might also want to know about DU JAT Quadratic Equation Questions

• Question 9: Simple interest on a sum of money for 2 years is Rs. 480 and Compound interest is Rs. 492. Find the sum and rate of interest?
• Question 10: Principal =? Time = 3 years, Rate of Interest = 15%, Compound interest – Simple interest = Rs. 1701. Find Principal value?

Following the expert tips will definitely help you to prepare better for the DU JAT 2022 exam. Begin your preparation by studying from the right books which cover all the concepts and topics according to the latest exam pattern and make sure you are aware of the detailed Paper pattern and latest Syllabus of the DU JAT Exam before starting your preparation.

Taking up Mock Tests regularly and solving DU JAT Sample Papers helps to test your preparation and improve your speed and managing time. It is important to study all the topics present in the syllabus without leaving any topic. One of the best methods to score more marks in the exam is to practice as many previous year question papers as possible.

It solely depends on you whether you need to take DU JAT coaching or not. If your fundamentals are strong, then it is easy to crack the exam just by solving previous year sample papers and Mock tests. However, if you want to improve your fundamentals then opting for coaching is beneficial.

You can easily improve your speed and accuracy by solving as many sample papers as possible. Practicing mock tests would definitely improve your time management skills and problem-solving techniques. So, it is advisable for candidates to solve mock tests on a daily basis.

There is an equal weightage for all the sections in the DU JAT i.e., 25 questions are asked from each section in the exam.
No. There are only objective-type questions asked in the Delhi University Joint Admission Test.