Example 1 · level 1
Joseph deposits ₹1,000 in a post office scheme in Guwahati at 8% per annum simple interest for 4 years. Find the interest earned.
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- SI = 1,000 × 8 × 4 ÷ 100 = ₹320.
Answer: ₹320
CLASS 7 MATHS · COMPARING QUANTITIES
Simple interest
SI = P × R × T ÷ 100. Amount = principal + interest.
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Worked examples
Example 2 · level 2
Arjun deposits ₹15,500 in a post office scheme in Guwahati at 10% per annum simple interest for 4 years. Find the amount at the end.
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- SI = 15,500 × 10 × 4 ÷ 100 = ₹6,200.
- Amount = 15,500 + 6,200 = ₹21,700.
Answer: ₹21,700
Example 3 · level 3
Harpreet borrowed ₹1,500 and paid ₹300 as simple interest after 4 years. What was the rate of interest (% per annum)?
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- R = 300 × 100 ÷ (1,500 × 4)
- = 30,000 ÷ 6,000 = 5%.
Answer: 5 %