Bank and Simple Interest Maths - Bank and Simple Interest

With the help of your teachers, start a Savings Bank in your school and open an account in it to save up some money.

Visit different banks and find out the rates of the interest they give for different types of accounts.

Ask an adult in your house to show you a passbook and explain the entries made in it.

Javed deposited Rs 12000 at 9 p.c.p.a in a bank for some years, and withdrew his interest every year. At the end of the period, he had received altogether Rs 17,400. For how many years had he deposited his money ?

If Pankaj deposits Rs 1,50,000 in a bank at 10 p.c.p.a. for two years, what is the total amount he will get from the bank ?

At a certain rate of interest, the interest after 4 years on Rs 5000 principal is Rs 1200. What would be the interest on Rs 15000 at the same rate of interest for the same period ?

Fill in the blanks in the table.

	Principal	Rate of interest (p.c.p.a.)	Time	Interest	Amount
i.	Rs 4200	7%	3 years
ii.		6%	4 years	Rs 1200
iii.	Rs 8000	5%		Rs 800
iv.		5%		Rs 6000	Rs 18000
v.		2.5%	5 years	Rs 2400

Suvidya borrowed a sum of Rs 30000 at 8 p.c.p.a. interest for a year from her bank to buy a computer. At the end of the period, she had to pay back an amount of Rs 2400 over and above what she had borrowed.
Based on this information fill in the blanks below.

1. Principal = Rs__
2. Rate of interest =__%
3. Interest = Rs__
4. Time =__year.
5. The total amount returned to the bank = 30,000 + 2,400 = Rs__

If the interest on Rs 3000 is Rs 600 at a certain rate for a certain number of years, what would the interest be on Rs 1500 under the same conditions ?

If the interest on Rs 1700 is Rs 340 for 2 years, the rate of interest must be__.