Maharashtra Board Solutions Class 7-Maths (Practice Set 40): Chapter 10- Bank and Simple Interest

Class 7: Maths Chapter 10 solutions. Complete Class 7 Maths Chapter 10 Notes.

Maharashtra Board Solutions Class 7-Maths (Practice Set 40): Chapter 10- Bank and Simple Interest

Maharashtra Board 7th Maths Chapter 10, Class 7 Maths Chapter 10 solutions

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?
Solution:
Here, P = Rs 1500, R = 9 p.c.p.a , T = 2 years
∴ Total interest = P×R×T100
= 1500×9×2100
= 1500 x 9 x 2
= Rs 270
∴ Total amount = Principal + Interest
= 1500 + 270
= Rs 1770
∴ Rihanna will get a total amount of Rs 1770.

Question 2.
Jethalal took a housing loan of Rs 2,50,000 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?
Solution:
Here, P = Rs 250000, R = 10 p.c.p.a., T = 5 years
∴ Total interest = P×R×T100
= 250000×10×5100
= 2500 x 10 x 5
= Rs 1,25,000
∴ Yearly interest = Total interest ÷ Time = 1,25,000 ÷ 5 = Rs 25000
Total amount to be returned = Principal + Total interest
= 250000 + 125000 = Rs 375000
∴ The yearly interest is Rs 25,000 and Jethalal will have to return Rs 3,75,000 to the bank.

Question 3.
Shrikant deposited Rs 85,000 for 212 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?
Solution:
Here, P = Rs 85000, R = 7 p.c.p.a., T = 212 years = 2.5 years
∴ Total interest = P×R×T100
= 85000×7×2.5100
= 85000×7×25100×10
= 85 x 7 x 25
= Rs 14875
∴ The total interest received by Shrikant at the end of the period is Rs 14875.

Question 4.
At a certain rate of interest, the interest after 4 years on Rs 5000 principal is Rs 1200. What would be the interest on Rs 15000 at the same rate of interest for the same period?
Solution:
The interest on Rs 5000 after 4 years is Rs 1200.
Let us suppose the interest on Rs 15000 at the same rate after 4 years is Rs x.
Taking the ratio of interest and principal, we get
∴ x15000=12005000
∴ x=1200×150005000
= Rs 3600
∴ The interest received on Rs 15000 is Rs 3600.

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×T100
= 150000×10×2100
= Rs 30000
∴ Total amount = Principal + Total Interest
= 150000 + 30000
= Rs 180000
∴ Pankaj will receive Rs 180000 from the bank.

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

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

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Maharashtra Board Solutions Class 7-Maths (Practice Set 40): Chapter 10- Bank and Simple Interest

Download PDF: Maharashtra Board Solutions Class 7-Maths (Practice Set 40): Chapter 10- Bank and Simple Interest PDF

Chapterwise Maharashtra Board Solutions Class 7 Maths :

• Chapter 1- Geometrical Constructions (Practice Set 1)
• Chapter 1- Geometrical Constructions (Practice Set 2)
• Chapter 1- Geometrical Constructions (Practice Set 3)
• Chapter 1- Geometrical Constructions (Practice Set 4)
• Chapter 1- Geometrical Constructions (Practice Set 5)
• Chapter 1- Geometrical Constructions (Practice Set 6)
• Chapter 1- Geometrical Constructions (Practice Set 7)
• Chapter 2- Multiplication and Division of Integers (Practice Set 8)
• Chapter 2- Multiplication and Division of Integers (Practice Set 9)
• Chapter 3- HCF and LCM (Practice Set 10)
• Chapter 3- HCF and LCM (Practice Set 11)
• Chapter 3- HCF and LCM (Practice Set 12)
• Chapter 3- HCF and LCM (Practice Set 13)
• Chapter 3- HCF and LCM (Practice Set 14)
• Chapter 4- Angles and Pairs of Angles (Practice Set 15)
• Chapter 4- Angles and Pairs of Angles (Practice Set 16)
• Chapter 4- Angles and Pairs of Angles (Practice Set 17)
• Chapter 4- Angles and Pairs of Angles (Practice Set 18)
• Chapter 4- Angles and Pairs of Angles (Practice Set 19)
• Chapter 4- Angles and Pairs of Angles (Practice Set 20)
• Chapter 4- Angles and Pairs of Angles (Practice Set 21)
• Chapter 5- Operations on Rational Numbers (Practice Set 22)
• Chapter 5- Operations on Rational Numbers (Practice Set 23)
• Chapter 5- Operations on Rational Numbers (Practice Set 24)
• Chapter 5- Operations on Rational Numbers (Practice Set 25)
• Chapter 6- Indices (Practice Set 26)
• Chapter 6- Indices (Practice Set 27)
• Chapter 6- Indices (Practice Set 28)
• Chapter 6- Indices (Practice Set 29)
• Chapter 6- Indices (Practice Set 30)
• Chapter 7- Joint Bar Graph (Practice Set 31)
• Chapter 8- Algebraic Expressions and Operations on them (Practice Set 32)
• Chapter 8- Algebraic Expressions and Operations on them (Practice Set 33)
• Chapter 8- Algebraic Expressions and Operations on them (Practice Set 34)
• Chapter 8- Algebraic Expressions and Operations on them (Practice Set 35)
• Chapter 8- Algebraic Expressions and Operations on them (Practice Set 36)
• Chapter 9- Direct Proportion and Inverse Proportion (Practice Set 37)
• Chapter 9- Direct Proportion and Inverse Proportion (Practice Set 38)
• Chapter 9- Direct Proportion and Inverse Proportion (Practice Set 39)
• Chapter 10- Bank and Simple Interest (Practice Set 40)
• Chapter 10- Bank and Simple Interest (Practice Set 41)
• Chapter 11- Circle (Practice Set 42)
• Chapter 11- Circle (Practice Set 43)
• Chapter 12- Perimeter and Area (Practice Set 44)
• Chapter 12- Perimeter and Area (Practice Set 45)
• Chapter 12- Perimeter and Area (Practice Set 46)
• Chapter 12- Perimeter and Area (Practice Set 47)
• Chapter 13- Pythagoras Theorem (Practice Set 48)
• Chapter 13- Pythagoras Theorem (Practice Set 49)
• Chapter 14- Algebraic Formulae - Expansion of Squares (Practice Set 50)
• Chapter 14- Algebraic Formulae - Expansion of Squares (Practice Set 51)
• Chapter 14- Algebraic Formulae - Expansion of Squares (Practice Set 52)
• Chapter 14- Algebraic Formulae - Expansion of Squares (Practice Set 53)
• Chapter 15- Statistics (Practice Set 54)
• Chapter 14- Statistics (Practice Set 55)