CBSE Class 7 > Class 7 Notes > Mathematics (Maths) (Old NCERT) > RD Sharma Solutions: Simple Interest
RD Sharma Solutions: Simple Interest
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Page 1 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 = 6 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. Solution: (i) Given Principal = Rs 2000, Rate of Interest = 5% per annum and Time = 5 years. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (2000 × 5 × 5)/100 = Rs 500 (ii) Given Principal = Rs 500, Rate of Interest = 12.5% per annum and Time = 4 years. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (500 × 4 × 12.5)/100 = Rs 250 (iii) Given Principal = Rs 4500, Rate of Interest = 4% per annum and Time = 6 months = ½ years We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (4500 × ½ × 4)/100 SI = (4500 × 1 × 4)/100 × 2 = Rs 90 (iv) Given Principal = Rs 12000, Rate of Interest = 18% per annum and Time = 4 months = (4/12) = (1/3) years We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (12000 × (1/3) × 18)/100 SI = (12000 × 1 × 18)/100 × 3 Page 2 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 = 6 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. Solution: (i) Given Principal = Rs 2000, Rate of Interest = 5% per annum and Time = 5 years. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (2000 × 5 × 5)/100 = Rs 500 (ii) Given Principal = Rs 500, Rate of Interest = 12.5% per annum and Time = 4 years. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (500 × 4 × 12.5)/100 = Rs 250 (iii) Given Principal = Rs 4500, Rate of Interest = 4% per annum and Time = 6 months = ½ years We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (4500 × ½ × 4)/100 SI = (4500 × 1 × 4)/100 × 2 = Rs 90 (iv) Given Principal = Rs 12000, Rate of Interest = 18% per annum and Time = 4 months = (4/12) = (1/3) years We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (12000 × (1/3) × 18)/100 SI = (12000 × 1 × 18)/100 × 3 = Rs 720 (v) Given Principal = Rs 1000, Rate of Interest = 10% per annum and Time = 73 days = (73/365) days We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (1000 × (73/365) × 10)/100 SI = (1000 × 73 × 10)/100 × 365 = Rs 20 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. Solution: Given Principal amount P = Rs 500 Time period T = 4 years Rate of interest R = 8% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (500 × 4 × 8)/100 = Rs 160 Amount = Principal amount + Interest = Rs 500 + 160 = Rs 660 3. A sum of Rs 400 is lent at the rate of 5% per annum. Find the interest at the end of 2 years. Solution: Given Principal amount P = Rs 400 Time period T = 2 years Rate of interest R = 5% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (400 × 2 × 5)/100 = Rs 40 Page 3 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 = 6 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. Solution: (i) Given Principal = Rs 2000, Rate of Interest = 5% per annum and Time = 5 years. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (2000 × 5 × 5)/100 = Rs 500 (ii) Given Principal = Rs 500, Rate of Interest = 12.5% per annum and Time = 4 years. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (500 × 4 × 12.5)/100 = Rs 250 (iii) Given Principal = Rs 4500, Rate of Interest = 4% per annum and Time = 6 months = ½ years We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (4500 × ½ × 4)/100 SI = (4500 × 1 × 4)/100 × 2 = Rs 90 (iv) Given Principal = Rs 12000, Rate of Interest = 18% per annum and Time = 4 months = (4/12) = (1/3) years We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (12000 × (1/3) × 18)/100 SI = (12000 × 1 × 18)/100 × 3 = Rs 720 (v) Given Principal = Rs 1000, Rate of Interest = 10% per annum and Time = 73 days = (73/365) days We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (1000 × (73/365) × 10)/100 SI = (1000 × 73 × 10)/100 × 365 = Rs 20 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. Solution: Given Principal amount P = Rs 500 Time period T = 4 years Rate of interest R = 8% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (500 × 4 × 8)/100 = Rs 160 Amount = Principal amount + Interest = Rs 500 + 160 = Rs 660 3. A sum of Rs 400 is lent at the rate of 5% per annum. Find the interest at the end of 2 years. Solution: Given Principal amount P = Rs 400 Time period T = 2 years Rate of interest R = 5% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (400 × 2 × 5)/100 = Rs 40 4. A sum of Rs 400 is lent for 3 years at the rate of 6% per annum. Find the interest. Solution: Principal amount P = Rs 400 Time period T = 3 years Rate of interest R = 6% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (400 × 3 × 6)/100 = Rs 72 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. Solution: Given Principal amount P = Rs 25000 Time period T = 1 year Rate of interest R = 20% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (25000 × 1 × 20)/100 = Rs 5000 6. A man borrowed Rs 8000 from a bank at 8% per annum. Find the amount he has to pay after 4 ½ years. Solution: Given Principal amount P = Rs 8000 Time period T = 4 ½ years = 9/2 years Rate of interest R = 8% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (8000 × (9/2) × 8)/100 = Rs 2880 Amount = Principal amount + Interest = Rs 8000 + 2880 = Rs 10880 Page 4 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 = 6 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. Solution: (i) Given Principal = Rs 2000, Rate of Interest = 5% per annum and Time = 5 years. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (2000 × 5 × 5)/100 = Rs 500 (ii) Given Principal = Rs 500, Rate of Interest = 12.5% per annum and Time = 4 years. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (500 × 4 × 12.5)/100 = Rs 250 (iii) Given Principal = Rs 4500, Rate of Interest = 4% per annum and Time = 6 months = ½ years We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (4500 × ½ × 4)/100 SI = (4500 × 1 × 4)/100 × 2 = Rs 90 (iv) Given Principal = Rs 12000, Rate of Interest = 18% per annum and Time = 4 months = (4/12) = (1/3) years We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (12000 × (1/3) × 18)/100 SI = (12000 × 1 × 18)/100 × 3 = Rs 720 (v) Given Principal = Rs 1000, Rate of Interest = 10% per annum and Time = 73 days = (73/365) days We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (1000 × (73/365) × 10)/100 SI = (1000 × 73 × 10)/100 × 365 = Rs 20 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. Solution: Given Principal amount P = Rs 500 Time period T = 4 years Rate of interest R = 8% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (500 × 4 × 8)/100 = Rs 160 Amount = Principal amount + Interest = Rs 500 + 160 = Rs 660 3. A sum of Rs 400 is lent at the rate of 5% per annum. Find the interest at the end of 2 years. Solution: Given Principal amount P = Rs 400 Time period T = 2 years Rate of interest R = 5% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (400 × 2 × 5)/100 = Rs 40 4. A sum of Rs 400 is lent for 3 years at the rate of 6% per annum. Find the interest. Solution: Principal amount P = Rs 400 Time period T = 3 years Rate of interest R = 6% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (400 × 3 × 6)/100 = Rs 72 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. Solution: Given Principal amount P = Rs 25000 Time period T = 1 year Rate of interest R = 20% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (25000 × 1 × 20)/100 = Rs 5000 6. A man borrowed Rs 8000 from a bank at 8% per annum. Find the amount he has to pay after 4 ½ years. Solution: Given Principal amount P = Rs 8000 Time period T = 4 ½ years = 9/2 years Rate of interest R = 8% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (8000 × (9/2) × 8)/100 = Rs 2880 Amount = Principal amount + Interest = Rs 8000 + 2880 = Rs 10880 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? Solution: Given Principal amount P = Rs 8000 Time period T = 5 years Rate of interest R = 15% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (8000 × 5 × 15)/100 = Rs 6000 Principal amount P = Rs 6000 Time period T = 3 years Rate of interest R = 12% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (6000 × 3 × 12)/100 = Rs 2160 Amount gained by Rakesh = Rs 6000 - Rs 2160 = Rs 3840 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? Solution: Given Principal amount P = Rs 1000 Time period T = 1 year Rate of interest R = 5% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (1000 × 1 × 5)/100 = Rs 50 Total amount paid after 1 year = Principal amount + Interest = Rs 1000 + Rs 50 = Rs 1050 9. Nalini borrowed Rs 550 from her friend at 8% per annum. She returned the amount Page 5 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 = 6 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. Solution: (i) Given Principal = Rs 2000, Rate of Interest = 5% per annum and Time = 5 years. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (2000 × 5 × 5)/100 = Rs 500 (ii) Given Principal = Rs 500, Rate of Interest = 12.5% per annum and Time = 4 years. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (500 × 4 × 12.5)/100 = Rs 250 (iii) Given Principal = Rs 4500, Rate of Interest = 4% per annum and Time = 6 months = ½ years We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (4500 × ½ × 4)/100 SI = (4500 × 1 × 4)/100 × 2 = Rs 90 (iv) Given Principal = Rs 12000, Rate of Interest = 18% per annum and Time = 4 months = (4/12) = (1/3) years We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (12000 × (1/3) × 18)/100 SI = (12000 × 1 × 18)/100 × 3 = Rs 720 (v) Given Principal = Rs 1000, Rate of Interest = 10% per annum and Time = 73 days = (73/365) days We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (1000 × (73/365) × 10)/100 SI = (1000 × 73 × 10)/100 × 365 = Rs 20 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. Solution: Given Principal amount P = Rs 500 Time period T = 4 years Rate of interest R = 8% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (500 × 4 × 8)/100 = Rs 160 Amount = Principal amount + Interest = Rs 500 + 160 = Rs 660 3. A sum of Rs 400 is lent at the rate of 5% per annum. Find the interest at the end of 2 years. Solution: Given Principal amount P = Rs 400 Time period T = 2 years Rate of interest R = 5% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (400 × 2 × 5)/100 = Rs 40 4. A sum of Rs 400 is lent for 3 years at the rate of 6% per annum. Find the interest. Solution: Principal amount P = Rs 400 Time period T = 3 years Rate of interest R = 6% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (400 × 3 × 6)/100 = Rs 72 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. Solution: Given Principal amount P = Rs 25000 Time period T = 1 year Rate of interest R = 20% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (25000 × 1 × 20)/100 = Rs 5000 6. A man borrowed Rs 8000 from a bank at 8% per annum. Find the amount he has to pay after 4 ½ years. Solution: Given Principal amount P = Rs 8000 Time period T = 4 ½ years = 9/2 years Rate of interest R = 8% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (8000 × (9/2) × 8)/100 = Rs 2880 Amount = Principal amount + Interest = Rs 8000 + 2880 = Rs 10880 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? Solution: Given Principal amount P = Rs 8000 Time period T = 5 years Rate of interest R = 15% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (8000 × 5 × 15)/100 = Rs 6000 Principal amount P = Rs 6000 Time period T = 3 years Rate of interest R = 12% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (6000 × 3 × 12)/100 = Rs 2160 Amount gained by Rakesh = Rs 6000 - Rs 2160 = Rs 3840 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? Solution: Given Principal amount P = Rs 1000 Time period T = 1 year Rate of interest R = 5% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (1000 × 1 × 5)/100 = Rs 50 Total amount paid after 1 year = Principal amount + Interest = Rs 1000 + Rs 50 = Rs 1050 9. Nalini borrowed Rs 550 from her friend at 8% per annum. She returned the amount after 6 months. How much did she pay? Solution: Given Principal amount P = Rs 550 Time period T = ½ year Rate of interest R = 8% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (550 × ½ × 8)/100 = Rs 22 Total amount paid after ½ year = Principal amount + Interest = Rs 550 + Rs 22 = Rs 572 10. Rohit borrowed Rs 60000 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? Solution: Given Principal amount P = Rs 60000 Time period T = 2 years Rate of interest R = 10% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (60000 × 2 × 10)/100 = Rs 12000 Principal amount P = Rs 60000 Time period T = 2 years Rate of interest R = 9% p.a. We know that simple interest = (P × T × R)/100 On substituting these values in above equation we get SI = (60000 × 2 × 9)/100 = Rs 10800 Amount gained by Rohit = Rs 12000 - Rs 10800 = Rs 1200 11. Romesh borrowed Rs 2000 at 2% per annum and Rs 1000 at 5% per annum. HeRead More
FAQs on RD Sharma Solutions: Simple Interest
| 1. What's the difference between simple interest and compound interest for Class 7 maths? |  |
Ans. Simple interest is calculated only on the principal amount throughout the loan or investment period, while compound interest is calculated on the principal plus accumulated interest. In CBSE Class 7, students learn that simple interest remains constant yearly, making it easier to calculate. For example, ₹100 at 10% simple interest earns ₹10 annually, regardless of previous earnings.
| 2. How do I calculate simple interest if I know the principal, rate, and time? | |
Ans. The simple interest formula is SI = (P × R × T) / 100, where P is principal, R is rate per annum, and T is time in years. To find simple interest, multiply the principal amount by the interest rate and duration, then divide by 100. For instance, ₹500 at 5% for 2 years gives SI = (500 × 5 × 2) / 100 = ₹50.
| 3. Why do banks use simple interest calculations for certain savings accounts? | |
Ans. Banks apply simple interest on specific accounts because it provides transparency and predictability for borrowers and savers. Simple interest method ensures customers know exactly how much interest they'll earn or owe without complex calculations. This straightforward approach makes financial planning easier for everyday transactions and short-term deposits, particularly beneficial for Class 7 learners understanding real-world mathematics applications.
| 4. What's the amount formula in simple interest problems and how is it different from SI? | |
Ans. Amount (A) equals principal plus simple interest: A = P + SI, or A = P + (P × R × T) / 100. While simple interest measures only the extra earnings on principal, amount represents the total money received after interest accumulates. If principal is ₹1000, rate 8%, and time 3 years, SI = ₹240, so amount = ₹1240-the actual sum returned.
| 5. Which concepts do I need to understand before tackling RD Sharma simple interest problems? | |
Ans. Students must grasp percentages, ratio and proportion, and basic algebraic manipulation before attempting RD Sharma solutions on simple interest. Understanding how to convert percentages into decimals and fractions strengthens problem-solving ability significantly. CBSE Class 7 curriculum builds these foundational skills deliberately; visual aids like mind maps and flashcards help clarify relationships between principal, rate, time, and interest calculations before progressing to complex scenarios.
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