Std 6 th Mathematics- 14. Banks and Simple Interest

Question 1:

At a rate of 10 p.c.p.a., what would be the interest for one year on rupees 6000?

Answer 1:

Given:
Principal (P) = 6000 rupees
Rate of interest (R) = 10%
Time (T) = 1 year
Now, Interest =

\frac{P \times R \times T}{100}

= \frac{6000 \times 10 \times 1}{100} = \frac{60000}{100}

= 600 rupees
Hence, the interest for one year would be 600 rupees.

Question 2:

Mahesh deposited rupees 8650 in a bank at a rate of 6 p.c.p.a. How much money will he get at the end of the year in all?

Answer 2:

Given:
Principal (P) = 8650 rupees
Rate of interest (R) = 6%
Time (T) = 1 year
Now, Interest =

\frac{P \times R \times T}{100}

= \frac{8650 \times 6 \times 1}{100} = \frac{51900}{100}

= 519 rupees
Therfore, Amount = Principal + Interest
= 8650 + 519
= 9169
Hence, Mahesh will get 9169 rupees at the end of the year in all.

Question 3:

Ahmed Chacha borrowed rupees 25000 at 12 p.c.p.a. for a year. What amount will he have to return to the bank at the end of the year?

Answer 3:

Given:
Principal (P) = 25000 rupees
Rate of interest (R) = 12%
Time (T) = 1 year
Now, Interest =

\frac{P \times R \times T}{100}

= \frac{25000 \times 12 \times 1}{100} = \frac{300000}{100}

= 3000 rupees
Therfore, Amount = Principal + Interest
= 25000 + 3000
= 28000 rupees
Hence, Ahmed Chacha will have to return 28000 rupees to the bank at the end of the year.

Question 4:

Kisanrao wanted to make a pond in his field. He borrowed rupees 35250 from a bank at an interest rate of 6 p.c.p.a. How much interest will he have to pay to the bank at the end of the year ?