Free
ACC 124 GMAT Paper (Held in Feb 2021)
150 Questions 300 Marks 180 Mins
Last updated on Sep 29, 2022
The Military Training Directorate, Indian Army is soon going to release a new notification for the ACC Exam 2022. The vacancies for the Army Cadet College (ACC) are released twice in a year. The ACC exam is conducted to recruit soldiers and train them to become commissioned officers in the Indian Army. Candidates can avail of a maximum of 03 chances of entry for ACC. The selection process consists of two stages. Stage 1 will be the Written Test and Stage 2 will be SSB Interview and Medical Test. Candidates can refer to the ACC Exam Previous Year Papers to know the type of questions asked in the exam and boost their preparation.
Stay updated with the Quantitative Aptitude questions & answers with Testbook. Know more about Interest and ace the concept of Compound Interest.
Simple interest is calculated only on the initial amount (principal) that you invested.
Example: Suppose you give \$100 to a bank which pays you 5% simple interest at the end of every year. After one year you will have \$105, and after two years you will have \$110. This means that you will not earn an interest on your interest. Your interest payments will be $5 per year no matter how many years the initial sum of money stays in a bank account.
This calculator can be used to solve various types of simple interest problems. The calculator will print easy to understand step-by-step explanation.
About this calculator
This is an online simple interest calculator. This calculator not only gives you the answer but also the sample solution to find the answer.
This calculator uses the following simple interest formula, I:
Where:
- P is the principal
- r is the interest rate (per year or per annum)
- t is the loan duration/period in years.
How to use this calculator
- Choose whether you want to calculate simple interest (I), principal (P), interest rate (r) or duration/period (t).
- Fill in the blue boxes with the required numbers.
- Click on the 'Calculate' button to calculate.
The sample answer and solution will be shown below the calculator.
Sample Solution & Answer
The following are the sample solution and answer for your reference.
Using this calculator
You can use this calculator in many ways. Here are some ideas:
- Use it to check your homework answers.
- Use the sample solution as a guide to help you to solve questions that you are not sure about.
Calculator Use
Calculate simple interest on the principal only, I = Prt. Simple interest does not include the effect of compounding.
Simple Interest Formula
I = Prt
Where:
- P = Principal Amount
- I = Interest Amount
- r = Rate of Interest per year in decimal; r = R/100
- R = Rate of Interest per year as a percent; R = r * 100
- t = Time Periods involved
Notes: Base formula, written as I = Prt or I = P × r × t where rate r and time t should be in the same time units such as months or years.
Time conversions that are based on day count of 365 days/year have 30.4167 days/month and 91.2501 days/quarter. 360 days/year have 30 days/month and 90 days/quarter.
Simple Interest Formulas and Calculations:
This calculator for simple interest-only finds I, the simple interest where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods. Where r is in decimal form; r=R/100. r and t are in the same units of time.
- Calculate Interest, solve for I
- I = Prt
- Calculate Principal Amount, solve for P
- P = I / rt
- Calculate rate of interest in decimal, solve for r
- r = I / Pt
- Calculate rate of interest in percent
- R = r * 100
- Calculate time, solve for t
- t = I / Pr