Mathematics Solutions Solutions for Class 7 Maths Chapter 11 Banks And Simple Interest are provided here with simple step-by-step explanations. These solutions for Banks And Simple Interest are extremely popular among Class 7 students for Maths Banks And Simple Interest Solutions come handy for quickly completing your homework and preparing for exams. All questions and answers from the Mathematics Solutions Book of Class 7 Maths Chapter 11 are provided here for you for free. You will also love the ad-free experience on Meritnation’s Mathematics Solutions Solutions. All Mathematics Solutions Solutions for class Class 7 Maths are prepared by experts and are 100% accurate.

#### Page No 73:

#### Question 1:

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

#### Answer:

Given:

Principal (*P*) = 1500 rupees,

Rate of interest (*R*) = 9%

Time (*T*) = 2 years

Total interest (*I*) = $\frac{P\times R\times T}{100}$

$=\frac{1500\times 9\times 2}{100}$

= 270 rupees

Now, total amount = *P* + *I*

= 1500 + 270

= 1770 rupees

Hence, Rihanna will get the total amount of 1770 rupees.

#### Page No 73:

#### Question 2:

Jethalal took a housing loan of 2,50,000 rupees from a bank at 10 p.c.p.a. for 5 years. What is the yearly interest he must pay and the total amount he returns to the bank?

#### Answer:

Given:

Principal (*P*) = 250000 rupees,

Rate of interest (*R*) = 10%

Time (*T*) = 5 years

Total interest (*I*) = $\frac{P\times R\times T}{100}$

$=\frac{250000\times 10\times 5}{100}$

= 125000 rupees

Now, total amount = *P* + *I*

= 2500000 + 125000

= 375000 rupees

Hence, Jethalal will have to pay 125000 rupees as an interest and 375000 as the the total amount to the bank.

#### Page No 73:

#### Question 3:

Shri kant deposited 85,000 rupees for $2\frac{1}{2}$ years at 7 p.c.p.a. in a savings bank account. What is the total interest he received at the end of the period?

#### Answer:

Given:

Principal (*P*) = 85000 rupees,

Rate of interest (*R*) = 7%

Time (*T*) = $2\frac{1}{2}$ years

= $\frac{5}{2}$ years

Total interest (*I*) = $\frac{P\times R\times T}{100}$

$=\frac{85000\times 7\times 5}{2\times 100}$

= 14875 rupees

Hence, Shrikant will receive 14875 rupees as an interest from the bank.

#### Page No 73:

#### Question 4:

At a certain rate of interest, the interest after 4 years on 5000 rupees principal is 1200 rupees. What would be the interest on 15000 rupees at the same rate of interest for the same period?

#### Answer:

Given:

Principal (*P*) = 5000 rupees,

Time (*T*) = 4 years

Total interest (*I*) = 1200

Rate of interest (*R*) = $\frac{I\times 100}{P\times T}$

$=\frac{1200\times 100}{5000\times 4}$

= 6%

Now, Total interest (*I*) on 15000 rupees = $\frac{P\times R\times T}{100}$

$=\frac{15000\times 6\times 4}{100}$

= 3600 rupees

Hence, the rate of interest for the same period is 3600 rupees.

#### Page No 73:

#### Question 5:

If Pankaj deposits 1,50,000 rupees in a bank at 10 p.c.p.a. for two years, what is the total amount he will get from the bank ?

#### Answer:

Given:

Principal (*P*) = 150000 rupees,

Rate of interest (*R*) = 10%

Time (*T*) = 2 years

Total interest (*I*) = $\frac{P\times R\times T}{100}$

$=\frac{150000\times 10\times 2}{100}$

= 30000 rupees

Now, total amount = *P* + *I*

= 150000 + 30000

= 180000 rupees

Hence, Pankaj will get the total amount of 180000 rupees from the bank.

#### Page No 74:

#### Question 1:

If the interest on 1700 rupees is 340 rupees for 2 years the rate of interest must be ......... .

(i) 12 %

(ii) 15 %

(iii) 4 %

(iv) 10 %

#### Answer:

Given:

Principal (*P*) = 1700 rupees,

Total interest (*I*) = 340 rupees

Time (*T*) = 2 years

Rate of interest (*R*) = $\frac{I\times 100}{P\times T}$

$=\frac{340\times 100}{1700\times 2}$

= 10%

Hence, the correct option is (iv).

#### Page No 74:

#### Question 2:

If the interest on 3000 rupees is 600 rupees at a certain rate for a certain number of years, what would the interest be on 1500 rupees under the same conditions ?

(i) 300 rupees

(ii) 1000 rupees

(iii) 700 rupees

(iv) 500 rupees

#### Answer:

The interest on 3000 rupees is 600 rupees

The interest on 1 rupee is $\frac{600}{3000}$rupees

The interest on 1500 rupee is $\frac{600}{3000}\times 1500=300$ rupees

Hence, the correct option is (i).

#### Page No 74:

#### Question 3:

Javed deposited 12000 rupees at 9 p.c.p.a. in a bank for some years, and withdrew his interest every year. At the end of the period, he had received altogether 17,400 rupees. For how many years had he deposited his money ?

#### Answer:

Given:

Principal (*P*) = 12000 rupees,

Rate of interest (*R*) = 9%

Total Amount = 17400 rupees

Total interest (*I*) = 17400 − 12000

= 5400 rupees

Time (*T*) = $\frac{I\times 100}{P\times R}$

$=\frac{5400\times 100}{12000\times 9}$

= 5 years

Hence, Javed had deposited the money for 5 years.

#### Page No 74:

#### Question 4:

Lataben borrowed some money from a bank at a rate of 10 p.c.p.a. interest for $2\frac{1}{2}$ years to start a cottage industry. If she paid 10250 rupees as total interest, how much money had she borrowed ?

#### Answer:

Given:

Total interest (*I*) = 10250 rupees

Rate of interest (*R*) = 10%

Time (*T*) = $2\frac{1}{2}$

= $\frac{5}{2}$ years

Principal (*P*) = $\frac{I\times 100}{R\times T}$

$=\frac{10250\times 100\times 2}{10\times 5}$

= 41000 rupees

Hence, Lataben had deposited 41000 rupees in a bank.

#### Page No 74:

#### Question 5:

Fill in the blanks in the table.

Principal | Rate of interest (p.c.p.a.) | Time | Interest | Amount | |

(i) | 4200 | 7% | 3 years | ...... | ...... |

(ii) | ...... | 6% | 4 years | 1200 | ...... |

(iii) | 8000 | 5% | ...... | 800 | ...... |

(iv) | ...... | 5% | ...... | 6000 | 18000 |

(v) | ...... | $2\frac{1}{2}\%$ | 5 years | 2400 | ...... |

#### Answer:

(i)

Given:

Principal (*P*) = 4200 rupees,

Rate of interest (*R*) = 7%

Time (*T*) = 3 years

Total interest (*I*) = $\frac{P\times R\times T}{100}$

= $\frac{4200\times 7\times 3}{100}$

= 882 rupees

Total Amount = *P* + *I*

= 4200 + 882

= 5082 rupees

(ii)

Given:

Total interest (*I*) = 1200 rupess

Rate of interest (*R*) = 6%

Time (*T*) = 4 years

Principal (*P*) = $\frac{I\times 100}{R\times T}$

= $\frac{1200\times 100}{6\times 4}$

= 5000 rupees

Total Amount = *P* + *I*

= 5000 + 1200

= 6200 rupees

(iii)

Given:

Principal (*P*) = 8000 rupees

Total interest (*I*) = 800 rupess

Rate of interest (*R*) = 5%

Time (*T*) = $\frac{I\times 100}{P\times R}$

= $\frac{800\times 100}{8000\times 5}$

= 2 years

Total Amount = *P* + *I*

= 8000 + 800

= 8800 rupees

(iv)

Given:

Principal (*P*) = 8000 rupees

Total interest (*I*) = 6000 rupess

Now, Principal (*P*) = Total Amount − *I*

= 18000 − 6000

= 12000 rupees

Rate of interest (*R*) = 5%

Time (*T*) = $\frac{I\times 100}{P\times R}$

= $\frac{6000\times 100}{12000\times 5}$

= 10 years

(v)

Given:

Total interest (*I*) = 2400 rupess

Rate of interest (*R*) = $2\frac{1}{2}$%

= $\frac{5}{2}$%

Time (*T*) = 5 years

Principal (*P*) = $\frac{I\times 100}{R\times T}$

= $\frac{2400\times 100\times 2}{5\times 5}$

= 19200 rupees

Total Amount = *P* + *I*

= 19200 + 2400

= 21600 rupees

Principal | Rate of interest (p.c.p.a.) | Time | Interest | Amount | |

(i) | 4200 | 7% | 3 years | 882 | 5082 |

(ii) | 5000 | 6% | 4 years | 1200 | 6200 |

(iii) | 8000 | 5% | 2 years | 800 | 8800 |

(iv) | 12000 | 5% | 10 years | 6000 | 18000 |

(v) | 19200 | $2\frac{1}{2}\%$ | 5 years | 2400 | 21600 |

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