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All questions of Simple Interest for Grade 7 Exam

A school team won 6 games this year against 4 games won last year. What is the percent increase?
  • a)
    10%
  • b)
    25%
  • c)
    75%
  • d)
    50%
Correct answer is option 'D'. Can you explain this answer?

Pooja desai answered
Calculation of Percentage Increase

To calculate the percentage increase, we need to find the difference between the two quantities and then divide the difference by the original value. Finally, we need to multiply the result by 100 to get the percentage increase.

In this case, the difference between the number of games won this year and last year is:

6 - 4 = 2

The original value is the number of games won last year, which is 4.

So, the percentage increase is:

((6 - 4) / 4) x 100 = 50%

Therefore, the correct answer is option 'D', which is 50%.

Out of 15,000 voters in a constituency, 60% voted. Find the number of voters who did not vote.
  • a)
    6000
  • b)
    10000
  • c)
    8000
  • d)
    12000
Correct answer is option 'A'. Can you explain this answer?

Akshay Gupta answered
Given information:
- Total number of voters in a constituency = 15,000
- Percentage of voters who voted = 60%

To find:
- Number of voters who did not vote

Solution:
1. Calculate the number of voters who voted:
- Percentage of voters who voted = 60%
- Convert percentage to decimal = 0.6
- Number of voters who voted = 0.6 x 15,000 = 9,000

2. Calculate the number of voters who did not vote:
- Total number of voters in the constituency = 15,000
- Number of voters who voted = 9,000
- Number of voters who did not vote = Total number of voters - Number of voters who voted
- Number of voters who did not vote = 15,000 - 9,000 = 6,000

Answer:
The number of voters who did not vote is 6,000. Therefore, the correct option is A.

Mohit bought a CD for Rs. 750 and sold it Rs. 875. Find his gain or loss percent.
  • a)
    Gain of 20%
  • b)
    Gain of 30%
  • c)
    Gain of 25%
  • d)
    Gain of (50/3)%
Correct answer is option 'D'. Can you explain this answer?

Dharini shah answered
Calculation of Gain or Loss Percent

To calculate the gain or loss percent, the formula used is:

Gain or Loss percent = (Profit or Loss / Cost price) x 100

Given, Mohit bought a CD for Rs. 750 and sold it for Rs. 875.

Profit earned by Mohit = Selling price - Cost price
Profit earned by Mohit = Rs. 875 - Rs. 750 = Rs. 125

Now, substituting the values in the formula, we get:

Gain percent = (Profit / Cost price) x 100
Gain percent = (125 / 750) x 100
Gain percent = 16.67%

Therefore, the gain percent earned by Mohit is 16.67%. However, this answer is not given in the options.

Finding the Correct Option

To find the correct option, we need to convert the gain percent to a fraction and simplify it.

Gain percent = 16.67%
Gain fraction = 16.67 / 100
Gain fraction = 1 / 6

Now, we need to simplify the fraction to see if it matches any of the options.

1 / 6 = 50 / 300 = 50 / 3 x 100 / 100

Therefore, the gain percent can be written as 50/3%.

Hence, the correct option is (D) Gain of (50/3)%.

If the simple interest on a sum of money for 2 years at 5% per annum is ₹200, what is the principal amount?
  • a)
    ₹1000
  • b)
    ₹2000
  • c)
    ₹4000
  • d)
    ₹5000
Correct answer is option 'B'. Can you explain this answer?

Understanding Simple Interest
Simple interest is calculated using the formula:
Simple Interest = Principal × Rate × Time
Where:
- Principal is the initial amount of money.
- Rate is the annual interest rate (in decimal).
- Time is the time period in years.
Given Data
- Simple Interest (SI) = 200
- Rate (R) = 5% per annum = 0.05
- Time (T) = 2 years
Finding the Principal Amount
We need to rearrange the formula to find the Principal (P):
P = SI / (R × T)
Now, substitute the known values:
- SI = 200
- R = 0.05
- T = 2
Calculation Steps
1. Calculate R × T:
- R × T = 0.05 × 2 = 0.1
2. Substitute into the Principal formula:
- P = 200 / 0.1
3. Calculate P:
- P = 2000
Conclusion
The principal amount is 2000. Therefore, the correct answer is option 'B'.
This calculation shows how simple interest can help determine the initial amount of money based on the interest earned over a specified time period and rate.

A person borrowed ₹10,000 at an annual simple interest rate of 8% for 3 years. What is the total amount to be repaid after 3 years?
  • a)
    ₹12,400
  • b)
    ₹12,600
  • c)
    ₹12,800
  • d)
    ₹13,000
Correct answer is option 'A'. Can you explain this answer?

Total Amount to be Repaid
To calculate the total amount to be repaid after borrowing money with simple interest, we can use a straightforward formula. Here's how to break it down:
Understanding Simple Interest
- Principal Amount (P): This is the initial amount borrowed. In this case, it's 10,000.
- Annual Interest Rate (r): The interest rate per year, which here is 8% (or 0.08 in decimal form).
- Time (t): The duration for which the money is borrowed, given as 3 years.
Calculating Simple Interest
To find the simple interest (SI), use the formula:
- SI = P × r × t
Plugging in the values:
- SI = 10,000 × 0.08 × 3
- SI = 10,000 × 0.24
- SI = 2,400
Calculating Total Amount
The total amount (A) to be repaid after 3 years is the sum of the principal and the interest:
- A = P + SI
So, substituting the values:
- A = 10,000 + 2,400
- A = 12,400
Conclusion
Therefore, the total amount to be repaid after 3 years is 12,400. The correct answer is option 'A'.

If a number is increased by 25% and then decreased by 20%, what is the net percentage change?
  • a)
    0%
  • b)
    2%
  • c)
    4%
  • d)
    5%
Correct answer is option 'A'. Can you explain this answer?

Let the original number be 100.
After a 25% increase: 100 + 25 = 125
After a 20% decrease: 125 - 20% of 125 = 125 - 25 = 100
Net change = 100 - 100 = 0%

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