Maharashtra Board Solutions Class 7-Maths (Practice Set 41): 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 41): Chapter 10- Bank and Simple Interest

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

Question 1.
If the interest on Rs 1700 is Rs 340 for 2 years, the rate of interest must be__.
(A) 12%
(B) 15%
(C) 4%
(D) 10%
Solution:
(D) 10%

Hint:
∴  Total interest =P×R×T100
∴ 340=1700×R×2100
∴ R = 10%

Question 2.
If the interest on Rs 3000 is Rs 600 at a certain rate for a certain number of years, what would the interest be on Rs 1500 under the same conditions?
(A) Rs 300
(B) Rs 1000
(C) Rs 700
(D) Rs 500
Solution:
(A) Rs 300

Hint:
The interest on Rs 3000 at certain rate of interest is Rs 600.
Let us suppose the interest on Rs 1500 at the same rate is x.
∴ 6003000=x1500
∴ x = Rs 300

Question 3.
Javed deposited Rs 12000 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 Rs 17,400. For how many years had he deposited his money?
Solution:
Here, P = Rs 12000, R = 9 p.c.p.a and amount = Rs 17400
Amount = Principal + Interest
∴17400 = 12000 + Interest
∴Interest = 17400 – 12000 = Rs 5400
∴  Total interest =P×R×T100
5400=12000×9×T100
∴ 5400×10012000×9=T
∴ T = 5 years
∴ Javed had deposited the amount for 5 years.

Question 4.
Lataben borrowed some money from a bank at a rate of 10 p.c.p.a interest for 212 years to start a cottage industry. If she paid Rs 10250 as total interest, how much money had she borrowed?
Solution:
Here, R = 10 p.c.p.a, T = 2.5 years, I = Rs 10250

∴ P = Rs 41000
∴ Lataben had borrowed an amount of Rs 41000 from the bank.

Question 5.
Fill in the blanks in the table.

	Principal	Rate of interest (p.c.p.a.)	Time	Interest	Amount
i.	Rs 4200	7%	3 years
ii.		6%	4 years	Rs 1200
iii.	Rs 8000	5%		Rs 800
iv.		5%		Rs 6000	Rs 18000
v.		212 % 2	5 years	Rs 2400

Solution:
i.  Total interest =P×R×T100
= 4200×7×3100
= Rs 882
Amount = Principal + interest
= 4200 + 882
= Rs 5082

ii.  Total interest =P×R×T100
∴ 1200=P×6×4100
∴ 1200×1006×4=P
∴ P = Rs 5000
Amount = Principal + interest
= 5000 + 1200
= Rs 6200

iii.  Total interest =P×R×T100
∴ 800=8000×5×T100
∴ 800×1008000×5=T
∴ T = 2 years
Amount = Principal + interest
= 8000 + 800
= Rs 8800

iv. Amount = Principal + interest
∴ 18000 = Principal + 6000
∴ Principal = Rs 12000
 Total interest =P×R×T100
∴ 6000=12000×5×T100
∴ 6000×10012000×5=T
∴ T = 10 years

v. R = 212 % = 2.5 %
∴  Total interest =P×R×T100
∴ 2400=P×2.5×5100
∴ 2400=P×25×5100×10
∴ 2400×10×10025×5=P
∴ P = Rs 19200
Amount = Principal + interest
= 19200 + 2400
= Rs 21600

	Principal	Rate of interest (p.c.p.a.)	Time	Interest	Amount
i.	Rs 4200	7%	3 years	Rs 882	Rs 5082
ii.	Rs 5000	6%	4 years	Rs 1200	Rs 6200
iii.	Rs 8000	5%	2 years	Rs 800	Rs 8800
iv.	Rs 12000	5%	10 years	Rs 6000	Rs 18000
v.	Rs 19200	212 % 2	5 years	Rs 2400	Rs 21600

Intext Questions and Activities

Question 1.
Ask an adult in your house to show you a passbook and explain the entries made in it. (Textbook pg. no. 70)
Solution:
(Students should attempt the above activities with the help of their parent / teacher.)

Question 2.
Visit different banks and find out the rates of the interest they give for different types of accounts. (Textbook pg. no. 74)
Solution:
(Students should attempt the above activities with the help of their parent / teacher.)

Question 3.
With the help of your teachers, start a Savings Bank in your school and open an account in it to save up some money. (Textbook pg. no. 74)
Solution:
(Students should attempt the above activities with the help of their parent / teacher.)

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Maharashtra Board Solutions Class 7-Maths (Practice Set 41): Chapter 10- Bank and Simple Interest

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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)