Rs 500 will amount to Rs 700 at simple interest in 2 years the rate of interest is
Rd Sharma 2019 Solutions for Class 7 Math Chapter 13 Simple Interest are provided here with simple step-by-step explanations. These solutions for Simple Interest are extremely popular among Class 7 students for Math Simple Interest Solutions come handy for quickly completing your homework and preparing for exams. All questions and answers from the Rd Sharma 2019 Book of Class 7 Math Chapter 13 are provided here for you for free. You will also love the ad-free experience on Meritnation’s Rd Sharma 2019 Solutions. All Rd Sharma 2019 Solutions for class Class 7 Math are prepared by experts and are 100% accurate. Show Page No 13.7:Question 1:Find the simple interest, when: Answer:(i) Principal (P) = Rs 2000 (ii) Principal (P) = Rs 500 (iii) Principal (P) = Rs 4500 T =612=12 year (1 year = 12 months) (iv) Principal (P) = Rs 12000 Simple interest = P×R×T100 =12000×18×1100×3=Rs 720 (v) Principal (P) = Rs 1000 Simple interest = P×R×T100=1000×10×73100×365=Rs 20 Page No 13.8:Question 2:Find the interest on Rs 500 for a period of 4 years at the rate of 8% per annum. Also, find the amount to be paid at the end of the period. Answer:Principal amount (P) = Rs 500 Interest = P×R×T100=500× 4×8100=Rs 160 Total amount paid = Principal amount + Interest = Rs 500 + 160 Page No 13.8:Question 3:A sum of Rs 400 is lent at the rate of 5% per annum. Find the interest at the end of 2 years. Answer:Principal amount (P) = Rs 400 Interest paid after 2 years=P×R×T 100=400×5×2100=Rs 40 Page No 13.8:Question 4:A sum of Rs 400 is lent for 3 years at the rate of 6% per annum. Find the interest. Answer:Principal amount (P) = Rs 400 Page No 13.8:Question 5:A person deposits Rs 25000 in a firm who pays an interest at the rate of 20% per annum. Calculate the income he gets from it annually. Answer:Principal amount (P) = Rs 25000 Page No 13.8:Question 6:A man borrowed Rs 8000 from a bank at 8% per annum. Find the amount he has to pay after 412 years. Answer:Principal amount (P) = Rs 8000 Total amount paid after 412
years = Principal amount + Interest = Rs 8000 + Rs 2880 Page No 13.8:Question 7:Rakesh lent out Rs 8000 for 5 years at 15% per annum and borrowed Rs 6000 for 3 years at 12% per annum. How much did he gain or lose? Answer:Principal amount lent out by Rakesh (P) = Rs 8000 Principal amount borrowed by Rakesh (P) = Rs 6000 Amount gained by Rakesh = Rs 6000 − Rs 2160 = Rs 3840 Page No 13.8:Question 8:Anita deposits Rs 1000 in a savings bank account. The bank pays interest at the rate of 5% per annum. What amount can Anita get after one year? Answer:Principal amount (P) = Rs 1000 Interest = P×R×T100=1000×5×1100 = Rs 50 Total amount paid after 1 year = Principal amount + Interest = Rs 1000 + Rs 50 Page No 13.8:Question 9:Nalini borrowed Rs 550 from her friend at 8% per annum. She returned the amount after 6 months. How much did she pay? Answer:Principal amount (P) = Rs 550 Interest = P×R×T100=550×8×1100×2=Rs 22 Total amount paid after 6 months = Principal amount + Interest = Rs
550 + Rs 22 Page No 13.8:Question 10:Rohit borowed Rs 600000 from a bank at 9% per annum for 2 years. He lent this sum of money to Rohan at 10% per annum for 2 years. How much did Rohit earn from this transaction? Answer:Principal amount lent out by Rohit (P) = Rs. 60000 Interest = P×R×T100= Rs.60000×10×2100= Rs. 12000 Principal amount borrowed by Rohit from the bank (P) = Rs. 60000 Amount gained by Rohit = Rs. 12000 - 10800 = Rs. 1200 Page No 13.8:Question 11:Romesh borrowed Rs 2000 at 2% per annum and Rs 1000 at 5% per annum. He cleared his debt after 2 years by giving Rs 2800 and a watch. What is the cost of the watch? Answer:Principal amount borrowed by Romesh (P) = Rs. 2000 Interest = P×R×T100= Rs.2000×2×2100= Rs.80 Principal
amount borrowed by Romesh (P) = Rs. 1000 Interest = P×R×T100=Rs.1000×5×2100 = Rs.100 Total amount that he will have to return = Rs. 2000 + 1000 + 80 + 100 = Rs. 3180 Amount repaid = Rs. 2800 Page No 13.8:Question 12:Mr Garg lent Rs 15000 to his friend. He charged 15% per annum on Rs 12500 and 18% on the rest. How much interest does he earn in 3 years? Answer:Principal amount (P) = Rs 12500 Interest = P×R×T100=12500×15×3100 = Rs 5625 Rest of the amount lent = Rs 15000 − Rs 12500 = Rs 2500 Interest = P×R×T100=2500×18×3100 = Rs 1350 Total interest earned = Rs 5625 + Rs 1350 = Rs 6975 Page No 13.8:Question 13:Shikha deposited Rs 2000 in a bank which pays 6% simple interest. She withdrew Rs 700 at the end of first year. What will be her balance after 3 years? Answer:Principal amount deposited (P) = Rs 2000 Total amount after 3 years = Rs 1420 + Rs 170.40 = Rs 1590.40 Page No 13.8:Question 14:Reema took a loan of Rs 8000 from a money lender, who charged interest at the rate of 18% per annum. After 2 years, Reema paid him Rs 10400 and wrist watch to clear the debt. What is the price of the watch? Answer:Principal amount (P) = Rs 8,000 Page No 13.8:Question 15:Mr Sharma deposited Rs 20000 as a fixed deposit in a bank at 10% per annual. If 30% is deducted as income tax on the interest earned, find his annual income. Answer:Amount deposit (P) = Rs 20,000 Interest after 1 year = P×R×T100=20000×10×1100 = Rs 2,000 Amount deducted as income tax = 30% of Rs 2,000 =30×2000100=Rs 600 Annual interest after tax deduction = Rs 2,000 − Rs 600 = Rs 1,400 Page No 13.8:
Question 1:If the simple interest on a certain sum for 2 years at the rate of 5% per annum is ₹4000, then the sum is (a) ₹46,000 Answer:We know, I=P×T×R100 It is given that, Then, Thus, P = ₹40,000 Hence, the correct option is (c). Page No 13.9:Question 2:In how many years will a certain sum become 3 times itself at 25% per annum under simple interest? (a) 5 Answer:Amount = 3 times the sum = 3P Simple interest (I) = Amount − Sum = 3P − P = 2P Let the sum (P) be x. I=P×R×T100⇒T=100×IP×R =100×2xx×25 =4×2 =8 years Hence, the correct option is (b). Page No 13.9:Question 3:The amount on ₹25,000 at 8% per annum for 6 years under simple interest is (a) ₹35,000 Answer:It is given that, I=P×R×T100 =25000×8×6100 =12000 Therefore, simple interest (I) = ₹12,000 Now, Amount = P + I = ₹25,000 + ₹12,000 = ₹37,000 Hence, the correct option is (b). Page No 13.9:Question 4:The simple interest for ₹1500 at 8% per annum for 3 years is (a) ₹400 Answer:It is given that, I=P×R×T100 =1500×8×3100 =360 Therefore, simple interest (I) = ₹360 Hence, the correct option is (b). Page No 13.9:Question 5:The difference between the interest obtained for ₹1000 at 12% per annum for 3 years and that for ₹1500 at 8% per annum for 112 years is (a) ₹360 Answer:It is given that, I1=P1×R1×T1100 =1000 ×12×3100 =360 . ...(1) Sum (P2) = ₹1500 I2 =P2×R2×T2100 =1500×8×3100×2 =180 ....(2) Subtracting (2) from (1), we get Hence, the correct option is (c). Page No 13.9:Question 6:Which of the following yields maximum interest for 2 years? (a) ₹1500 at 8% per annum Answer:(a) It is given that, I1=P1×R1×T1100 =1500×8×2100 =240 ....(1) (b) It is given that, I2=P2×R2×T2 100 =1000×11×2100 =220 ....(2) (c) It is given that, I3=P3 ×R3×T3100 =2000×5×2100 =200 ....(3) (d) It is given that, I4=P4×R4×T4100 =900×20×2100 =360 ....(4) From (1), (2), (3) and (4), Page No 13.9:Question 7:If a sum of ₹3000 is lent out at 3% per annum for 20 years under simple interest, then the amount at the end of 20th year is (a) ₹1800 Answer:It is given that, I=P×R×T100 =3000×3×20100 =1800 Amount = I + P = ₹1800 + ₹3000 = ₹4800 Hence, the correct option is (d). Page No 13.9:Question 8:If a sum of ₹2000 is lent out at 2% per annum for 10 years under simple interest, then the amount is (a) ₹1400 Answer:It is given that, I=P×R×T100 =2000×2×10100 =400 Amount = I + P = ₹400 + ₹2000 = ₹2400 Hence, the correct option is (b). Page No 13.9:Question 9:If interest on ₹x for 2 years at R% per annum is ₹80, the interest on ₹2x for one year at R% per annum is (a) ₹160 Answer:It is given that, I1=P1×R1×T1 100⇒80=x×R×2100 =2Rx100 ...(1) Now, I2=P2 ×R2×T2100 =2x×R×1100 =2Rx100 =80 From 1 Therefore, I2 = ₹80 Hence, the correct option is (c). Page No 13.9:Question 10:At simple interest a sum becomes 4940 of itself in 212 years. The rate of interest per annum is (a) 7% Answer:Amount = 4940 times the sum = 4940P Simple interest (I) = Amount − Sum = 4940P − P = 9 40P Let the sum (P) be x. I=P×R×T100⇒R=100×IP×T = 100×940xx×52 =455 =9% Hence, the correct option is (d). Page No 13.9:Question 11:At what rate percent per annum simple interest will a sum double itself in 10 years? (a) 8% Answer:Amount = 2 times the sum = 2P Simple interest (I) = Amount − Sum = 2P − P = P Let the sum (P) be x. I=P×R×T100⇒R=100×IP×T =100×xx×10 =10% Hence, the correct option is (b). Page No 13.9:Question 12:In what time will a sum of ₹8000 amount to ₹8360 at 6% per annum simple interest? (a) 8 months Answer:It is given that, Simple interest (I) = Amount − Sum = ₹8360 − ₹8000 = ₹360 Also, I= P×R×T100⇒T=100×IP×R =100×3608000×6 =34 years =34×12 months =9 months Hence, the correct option is (b). Page No 13.9:Question 13:If a, b and c are three sums of money such that b is the simple interest on a and c is the simple interest on b for the same time and same rate. Which of the following is correct? (a) abc = 1 Answer:It is given that, Now, Also, Now, On equating (1) and (2), we get Hence, the correct option is (c). Page No 13.9:Question 14:The simple interest at R% per annum for n years will be ₹n on a sum of (a) ₹n Answer:It is given that, I =P×R×T100⇒P=100×IR×T =100×nR×n =100R Hence, the correct option is (c). Page No 13.9:Question 15:The simple interest on a certain sum is 1625 of the sum. If the rate percent per annum and the time are numerically equal, then the rate percent is (a) 8% Answer:Let the sum (P) be ₹x Also, I=P×R×T100⇒R=100×IP×T⇒R=100×1625xx×R⇒R×R=64xx⇒R×R=8×8⇒R=8% Hence, the correct option is (a). Page No 13.9:Question 16:At which rate percent per annum simple interest will a sum triple itself in 16 years? (a) 12% Answer:Amount = 3 times the sum = 3P Simple interest (I) = Amount − Sum = 3P − P = 2P Let the sum (P)
be x. I=P×R×T100⇒R=100×IP×T =100×2xx×16 =12.5% Hence, the correct option is (d). View NCERT Solutions for all chapters of Class 7 What is the simple interest for Rs 500 at 5 pa for 2 years?Multiplying the numbers,
Hence, the simple interest is Rs 50.
What is the interest of Rs 500 in 5 years at the rate of 5% simple interest per annum?Detailed Solution. ∴ The amount of Rs. 500 will become Rs. 625 at the rate of 5% per annum in 5 years.
In what time will Rs 500 amount to Rs 750 at 12 per annum simple interest?In 4 years 2 months, Rs. 500 will amount to Rs. 750 at 12% p.a. simple interest.
What is the simple interest on Rupees 500 5 for 3 years?500/- for 3 years at simple interest at 5% per annum. ∴ The amount is Rs. 575.
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