Simple Interest
1. Ram deposited Rs. 20,000 for 5 years at 10% p.a.
a. What are the three main components involved in calculating simple interest?
b. Calculate the interest gained in 5 years.
c. Calculate the total amount received by Ram from the bank if the time deposited for same amount is 10 years.
2. Rajshree deposited Rs. 10,000 in ADBL. After two years, the bank returned Rs. 1,600.
a. What is named for the amount deposited by Rajshree at Bank?
b. What is the total amount received from the bank after two years?
c. Calculate the rate that has been set up by the bank.
3. The bank levied 7% tax in the interest of sum Rs. 75,000 at 7% interest rate for 6 months.
a. Write the formula to find the simple interest rate.
b. Calculate the interest amount.
c. Calculate the amount received after 6 months.
4. Prithu deposited Rs. 75,000 at Bank at the rate of 9% p.a for three years.
a. Write the formula to calculate amount (A) if principal is Rs. P and interest amount is Rs. I
b. Calculate the interest received by Prithu.
c. Find the total amount received by him from the bank.
5. Nayan deposited Rs. 25,000 in ABC bank for 4 years at the rate of 10% p.a as SI and Tara deposited Rs. 40,000 for 2 years at the same rate of interest.
a. Write the formula to find the amount if P, T, R is given.
b. Calculate the simple interest obtained by Tara.
c. Who obtained more interest and by how much more amount.
6. Nishant deposited Rs. 15,000 in ABC bank for 5 years at the rate of 10% p.a and Choppema deposited Rs. 25,000 for 3 years at the same rate of interest.
a. Write the formula to find the sum.
b. Calculate the simple interest obtained by Nishant.
c. Analyze the two simple interests and whom do you favour, write with appropriate reasons?
7. The simple interest is four times its sum and the time in years is the same as rate of interest p.a.
a. Represent the sum in terms of simple interest.
b. Calculate the time in years.
c. Find the total amount received.
8. The simple interest is one fourth times its sum and the time in years is the same as rate of interest p.a.
a. Represent the simple interest in terms of sum.
b. Calculate the rate of interest.
c. Find the total amount received.
9. A sum of money triples itself in 15 years in investment as simple interest.
a. Write the relation between A, P and I.
b. Find the rate of interest.
c. Calculate the time that sum doubles.
10. A sum of money doubles itself in 12years 6 months in investment as simple interest.
a. Write the relation between A, P, R and T.
b. Find the rate of interest.
c. Calculate the time that trebles the sum.
Answers:
1.a Principal(P), Time(T) and Rate(R)
b. Rs. 10,000
