Maharashtra Board Practice Set 40 Class 7 Maths Solutions Chapter 10 Bank and Simple Interest

Maharashtra Board Practice Set 40 Class 7 Maths Solutions Chapter 10 Bank and Simple Interest

Bank and Simple Interest Class 7 Practice Set 40 Answers Solutions Chapter 10

Question 1.
If Rihanna deposits Rs 1500 in the school fund at 9 p.c.p.a for 2 years, what is the total amount she will get?

Question 5.
If Pankaj deposits Rs 1,50,000 in a bank at 10 p.c.p.a. for two years, what is the total amount he will get from the bank?
Solution:
Here, P = 150000, R = 10 p.c.p.a., T = 2 years
∴ Total interest = P×R×T/100
= 150000×10×2/100
= Rs 30000
∴ Total amount = Principal + Total Interest
= 150000 + 30000
= Rs 180000
∴ Pankaj will receive Rs 180000 from the bank.

Maharashtra Board Class 7 Maths Chapter 10 Banks and Simple Interest Practice Set 40 Intext Questions and Activities

Question 1.
Observe the entries made in the page of a passbook shown below and answer the following questions. (Textbook pg. no. 70)

1. On 2.2.16 the amount deposited was Rs__and the balance Rs__.
2. On 12.2.16, Rs__were withdrawn by cheque no. 243965. The balance was Rs__
3. On 26.2.2016 the bank paid an interest of Rs__

Solution:

1. 1500, 7000
2. 3000, 9000
3. 135

Practice Set 40 Class 7 Question 2.
Suvidya borrowed a sum of Rs 30000 at 8 p.c.p.a. interest for a year from her bank to buy a computer. At the end of the period, she had to pay back an amount of Rs 2400 over and above what she had borrowed.
Based on this information fill in the blanks below. (Textbook pg. no. 70)

1. Principal = Rs__
2. Rate of interest =__%
3. Interest = Rs__
4. Time =__year.
5. The total amount returned to the bank = 30,000 + 2,400 = Rs__

Solution:

1. 30000
2. 8
3. 2400
4. 1
5. Rs 32400