RD Sharma 2014 Solutions for Class 7 Math Chapter 13 Simple Interest are provided here with simple step-by-step explanations. These solutions for Simple Interest are extremely popular among class 7 students for Math Simple Interest Solutions come handy for quickly completing your homework and preparing for exams. All questions and answers from the RD Sharma 2014 Book of class 7 Math Chapter 13 are provided here for you for free. You will also love the ad-free experience on Meritnation’s RD Sharma 2014 Solutions. All RD Sharma 2014 Solutions for class 7 Math are prepared by experts and are 100% accurate.

Page No 13.7:

Question 1:

Find the simple interest, when:
(i) Principal = Rs 2000, Rate of Interest = 5% per annum and Time = 5 years.
(ii) Principal = Rs 500, Rate of Interest = 12.5% per annum and Time = 4 years.
(iii) Principal = Rs 4500, Rate of Interest = 4% per annum and Time =  months.
(iv) Principal = Rs 12000, Rate of Interest = 18% per annum and Time = 4 months.
(v) Principal = Rs 1000, Rate of Interest = 10% per annum and Time = 73 days.

Answer:

(i) Principal (P) = Rs 2000
Rate of interest (R) = 5% p.a.
Time (T) = 5 years
Simple interest =  P×R×T100=2000×5×5100=Rs 500

(ii)  Principal (P) = Rs 500
Rate of interest (R) = 12.5% p.a.
Time (T) = 4 years
Simple interest = P×R×T100=500×12.5×4100=Rs 250

(iii) Principal (P) = Rs 4500
Rate of interest (R) = 4% p.a.
Time (T) = 6 months 

T =612=12 year (1 year = 12 months)
Simple interest = P×R×T100=4500×4×12100=4500×4×1100×2=Rs 90

(iv) Principal (P) = Rs 12000
Rate of interest (R) = 18% p.a.
​Time (T) = 4 months =412=13year       (1 year = 12 months)

Simple interest = P×R×T100=12000×18×1100×3=Rs 720 

(v) Principal (P) = Rs 1000
Rate of interest (R) = 10% p.a.
Time (T) = 73 days = 73365 year   (1 year = 365 days)

Simple interest = P×R×T100=1000×10×73100×365=Rs 20



Page No 13.8:

Question 2:

Find the interest on Rs 500 for a period of 4 years at the rate of 8% per annum. Also, find the amount to be paid at the end of the period.

Answer:

Principal amount (P) = Rs 500
Time period (T) = 4 years
Rate of interest (R)  = 8% p.a.

 Interest = P×R×T100=500×4×8100=Rs 160

Total amount paid = Principal amount + Interest = Rs 500 + 160
                                                                         = Rs 660

Page No 13.8:

Question 3:

A sum of Rs 400 is lent at the rate of 5% per annum. Find the interest at the end of 2 years.

Answer:

Principal amount (P) = Rs 400
Time period (T) = 2 years
Rate of interest (R)  = 5% p.a.

Interest paid after 2 years=P×R×T100=400×5×2100=Rs 40

Page No 13.8:

Question 4:

A sum of Rs 400 is lent for 3 years at the rate of 6% per annum. Find the interest.

Answer:

Principal amount (P) = Rs 400
Time period (T) = 3 years
Rate of interest (R)  = 6% p.a.
Interest after 3 years = P×R×T100=400×6×3100 = Rs 72

Page No 13.8:

Question 5:

A person deposits Rs 25000 in a firm who pays an interest at the rate of 20% per annum. Calculate the income he gets from it annually.

Answer:

Principal amount (P) = Rs 25000
Time period (T) = 1 year
Rate of interest (R)  = 20% p.a.
Annual interest = P×R×T100=25000×20×1100 = Rs 5000

Page No 13.8:

Question 6:

A man borrowed Rs 8000 from a bank at 8% per annum. Find the amount he has to pay after 412 years.

Answer:

Principal amount (P) = Rs 8000
Time period (T) = 412=92 years
Rate of interest (R)  = 8% p.a.
Interest = P×R×T100=8000×8×9100×2 = Rs 2880

Total amount paid after 412 years  = Principal amount + Interest = Rs 8000 + Rs 2880
                                                                                                 = Rs 10880

Page No 13.8:

Question 7:

Rakesh lent out Rs 8000 for 5 years at 15% per annum and borrowed Rs 6000 for 3 years at 12% per annum. How much did he gain or lose?

Answer:

Principal amount lent out by Rakesh (P) = Rs 8000
Time period (T) = 5 years
Rate of interest (R)  = 15% p.a.
Interest = P×R×T100=8000×15×5100 = Rs 6000

Principal amount borrowed by Rakesh (P) = Rs 6000
Time period (T) = 3 years
Rate of interest (R) = 12% p.a.
 Interest = P×R×T100=6000×12×3100 = Rs 2160

Amount gained by Rakesh = Rs 6000 − Rs 2160 = Rs 3840

Page No 13.8:

Question 8:

Anita deposits Rs 1000 in a savings bank account. The bank pays interest at the rate of 5% per annum. What amount can Anita get after one year?

Answer:

Principal amount (P) = Rs 1000
Time period (T) = 1 year
Rate of interest (R) = 5% p.a.

 Interest = P×R×T100=1000×5×1100 = Rs 50

Total amount paid after 1 year = Principal amount + Interest = Rs 1000 + Rs 50
                                                                                           = Rs 1050

Page No 13.8:

Question 9:

Nalini borrowed Rs 550 from her friend at 8% per annum. She returned the amount after 6 months. How much did she pay?

Answer:

Principal amount (P) = Rs 550
Time period (T)  = 6 months = 612=12 year        (1 year = 12 months)
Rate of interest (R)  = 8% p.a.

 Interest = P×R×T100=550×8×1100×2=Rs 22

Total amount paid after 6 months = Principal amount + Interest = Rs 550 + Rs 22
                                                                                               = Rs 572

Page No 13.8:

Question 10:

Rohit borowed Rs 600000 from a bank at 9% per annum for 2 years. He lent this sum of money to Rohan at 10% per annum for 2 years. How much did Rohit earn from this transaction?

Answer:

Principal amount lent out by Rohit (P) = Rs. 60000
Time period (T)        = 2 years
Rate of interest (R)  = 10% p.a.

 Interest = P×R×T100= Rs.60000×10×2100= Rs. 12000

Principal amount borrowed by Rohit from the bank (P) = Rs. 60000
Time period (T)                                         = 2 years
Rate of interest (R)                                   = 9% p.a.
 Interest = P×R×T100= Rs.60000×9×2100= Rs. 10800

Amount gained by Rohit = Rs. 12000 - 10800 = Rs. 1200

Page No 13.8:

Question 11:

Romesh borrowed Rs 2000 at 2% per annum and Rs 1000 at 5% per annum. He cleared his debt after 2 years by giving Rs 2800 and a watch. What is the cost of the watch?

Answer:

Principal amount borrowed by Romesh (P) = Rs. 2000
Time period (T)        = 2 years
Rate of interest (R)  = 2% p.a.

 Interest = P×R×T100= Rs.2000×2×2100= Rs.80

Principal amount borrowed by Romesh (P) = Rs. 1000
Time period (T)        = 2 years
Rate of interest (R)  = 5% p.a.

 Interest = P×R×T100=Rs.1000×5×2100= Rs.100

Total amount that he will have to return  = Rs. 2000 + 1000 + 80 + 100 = Rs. 3180

Amount repaid = Rs. 2800
Value of the watch = Rs. 3180 - 2800 = Rs. 380

Page No 13.8:

Question 12:

Mr Garg lent Rs 15000 to his friend. He charged 15% per annum on Rs 12500 and 18% on the rest. How much interest does he earn in 3 years?

Answer:

Principal amount (P) = Rs 12500
Time period (T) = 3 years
Rate of interest (R)  = 15% p.a.

Interest = P×R×T100=12500×15×3100 = Rs 5625

Rest of the amount lent =  Rs 15000 − Rs 12500 = Rs 2500
Rate of interest = 18 % p.a.
Time period = 3 years

 Interest = P×R×T100=2500×18×3100 = Rs 1350

Total interest earned = Rs 5625 + Rs 1350 = Rs 6975

Page No 13.8:

Question 13:

Shikha deposited Rs 2000 in a bank which pays 6% simple interest. She withdrew Rs 700 at the end of first year. What will be her balance after 3 years?

Answer:

Principal amount deposited  (P) = Rs 2000
Time period (T) = 1 year
Rate of interest (R)  = 6% p.a.
Interest after 1 year = P×R×T100=2000×6×1100=Rs 120 
So amount after 1 year = Principal amount + Interest = 2000 + 120 = Rs 2120
After 1 year, amount withdrawn = Rs 700
Principal amount left (P1) = Rs 2120 − Rs 700 = Rs 1420
Time period (T) = 2 years
Rate of interest (R)  = 6% p.a.
 Interest after 2 years = P1×R×T100=1420×6×2100=Rs 170.40 

Total amount after 3 years = Rs 1420  + Rs 170.40 = Rs 1590.40

Page No 13.8:

Question 14:

Reema took a loan of Rs 8000 from a money lender, who charged interest at the rate of 18% per annum. After 2 years, Reema paid him Rs 10400 and wrist watch to clear the debt. What is the price of the watch?

Answer:

Principal amount (P) = Rs 8,000
Rate of interest (R) = 18%
Time period (T) = 2 years
Interest after 2 years = P×R×T100=8000×18×2100 = Rs 2,880
Total amount payable by Reema after 2 years = Rs 8,000 + Rs 2,880 = Rs 10,880
Amount paid = Rs 10,400
Value of the watch = Rs 10,880 − Rs 10,400 = Rs 480

Page No 13.8:

Question 15:

Mr Sharma deposited Rs 20000 as a fixed deposit in a bank at 10% per annual. If 30% is deducted as income tax on the interest earned, find his annual income.

Answer:

Amount deposit (P) = Rs 20,000
Rate of interest (R) = 10% p.a.
Time period (T) = 1 year

Interest after 1 year = P×R×T100=20000×10×1100 = Rs 2,000

Amount deducted as income tax = 30% of Rs 2,000 =30×2000100=Rs 600

Annual interest after tax deduction = Rs 2,000 − Rs 600 = Rs 1,400



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