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Question
Fill in the blanks in the table.
| Principal | Rate of interest (p.c.p.a.) | Time | Interest | Amount |
| ....... | `2 1/2%` | 5 years | 2400 | ...... |
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Solution
Given:
Total interest (I) = 2400 rupess
Rate of interest (R) = `2 1/2%`
= `5/2%`
Time (T) = 5 years
Formula:
Principal (P) = `("I"xx100)/("R"xx"T")`
Solution:
Principal (P) = `(2400xx100xx2)/(5xx5)`
= 19200 rupees
Total Amount = P + I
= 19200 + 2400
= 21600 rupees
| Principal | Rate of interest (p.c.p.a.) | Time | Interest | Amount |
| 19200 | `2 1/2%` | 5 years | 2400 | 21600 |
RELATED QUESTIONS
Sonia had a recurring deposit account in a bank and deposited Rs. 600 per month for 2 1/2 years. If the rate of interest was 10% p.a., find the maturity value of this account.
A page from the ‘Savings Bank’ account of Priyanka is given below:
| Date | Particulars |
Amount (Rs.) |
Amount deposited (Rs.) |
Balance (Rs.) |
| 03/04/2006 | B/F | 4000.00 | ||
| 05/04/2006 | By cash | 2000.00 | 6000.00 | |
| 18/04/2006 | By cheque | 6000.00 | 12000.00 | |
| 25/05/2006 | By cheque | 5000.00 | 7000.00 | |
| 30/05/2006 | By cash | 3000.00 | 10000.00 | |
| 20/07/2006 | By self | 4000.00 | 6000.00 | |
| 10/09/2006 | By cash | 2000.00 | 8000.00 | |
| 19/09/2006 | To cheque | 1000.00 | 7000.00 |
If the interest earned by Priyanka for the period ending September 2006 is Rs. 175, the find the rate of interest.
Ashish deposits a certain sum of money every month is a Recurring Deposit Account for a period of 12 months. If the bank pays interest at the rate of 11% p.a. and Ashish gets ₹ 12,715 as the maturity value of this account, what sum of money did money did he pay every month?
Mrs. Geeta deposited Rs. 350 per month in a bank for 1 year and 3 months under the Recurring Deposit Scheme. If the maturity value of her deposits is Rs. 5,565; find the rate of interest per annum.
A recurring deposit account of Rs. 1,200 per month has a maturity value of Rs. 12,440. If the rate of interest is 8% and the interest is calculated at the end of every month; find the time (in months) of this Recurring Deposit Account.
Mr. Burman open a saving back account with Bank of India on 3rd April 2007 with a cash deposit of Rs 5,000/-. Subsequently, he deposited Rs 16,500/- by cheque on 11th April 2007, withdraw Rs 4,000/- on 10th May, paid Rs 3,500 for insurance by cheque on 7th July 2007, deposited Rs. 6,000/- in cash on 9th August 2007 and withdrew Rs 1,500/- on 12th Oct 2007.
Make the entries in his passbook
If Rihanna deposits 1500 rupees in the school fund at 9 p.c.p.a for 2 years, what is the total amount she will get?
If the interest on 3000 rupees is 600 rupees at a certain rate for a certain number of years, what would the interest be on 1500 rupees under the same conditions?
Fill in the blanks in the table.
| Principal | Rate of interest (p.c.p.a.) | Time | Interest | Amount |
| 4200 | 7% | 3 years | ...... | ...... |
Fill in the blanks in the table.
| Principal | Rate of interest (p.c.p.a.) | Time | Interest | Amount |
| ...... | 6% | 4 years | 1200 | ...... |
