3 Mark Question

Question 13 Marks

Lataben borrowed some money from a bank at a rate of 10 p.c.p.a interest for $2 \frac{1}{2}$ years to start a cottage industry. If she paid Rs 10250 as total interest, how much money had she borrowed ?

Answer

Here, $R=10$ p.c.p.a, $T=2.5$ years, $I=$ Rs 10250
$
\begin{array}{ll}
\text { Total interest }=\frac{ P \times R \times T }{100} \\
\therefore \quad 10250=\frac{ P \times 10 \times 2.5}{100} \\
\therefore \quad 10250=\frac{ P \times 25}{100} \\
\therefore \quad \frac{10250 \times 100}{25}=P \\
\therefore P=\operatorname{Rs} 41000
\end{array}
$
$\therefore$ Lataben had borrowed an amount of Rs 41000 from the bank.

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Question 23 Marks

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 ?

Answer

Here, $P=$ Rs $12000, R=9$ p.c.p.a and amount $=$ Rs 17400
Amount $=$ Principal + Interest
$\therefore 17400=12000+$ Interest
$\therefore$ Interest $=17400-12000=$ Rs 5400
$\therefore$ Total interest $=\frac{P \times R \times T}{100}$
$5400=\frac{12000 \times 9 \times T }{100}$
$\therefore \frac{5400 \times 100}{12000 \times 9}= T$
$\therefore T =5$ years
$\therefore$ Javed had deposited the amount for 5 years.

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Question 33 Marks

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 ?

Answer

Here, $P=150000, R=10$ p.c.p.a., $T=2$ years
$
\begin{aligned}
& \therefore \text { Total interest }=\frac{ P \times R \times T }{100} \\
& =\frac{150000 \times 10 \times 2}{100} \\
& =\text { Rs } 30000 \\
& \therefore \text { Total amount }=\text { Principal }+ \text { Total Interest } \\
& =150000+30000 \\
& =\text { Rs } 180000
\end{aligned}
$
$\therefore$ Pankaj will receive Rs 180000 from the bank.

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Question 43 Marks

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 ?

Answer

The interest on Rs 5000 after 4 years is Rs 1200 .
Let us suppose the interest on Rs 15000 at the same rate after 4 years is Rs $x$.
Taking the ratio of interest and principal, we get
$
\begin{aligned}
& \therefore \frac{x}{15000}=\frac{1200}{5000} \\
& \therefore x=\frac{1200 \times 15000}{5000} \\
& =\text { Rs } 3600
\end{aligned}
$
$\therefore$ The interest received on Rs 15000 is Rs 3600 .

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Question 53 Marks

Shrikant deposited Rs 85,000 for $2 \frac{1}{2}$ years at 7 p.c.p.a. in a savings bank account. What is the total interest he received at the end of the period ?

Answer

Here, $P=$ Rs $85000, R=7$ p.c.p.a., $T=2 \frac{1}{2}$ years $=2.5$ years
$
\begin{aligned}
& \therefore \text { Total interest }=\frac{ P \times R \times T }{100} \\
& =\frac{85000 \times 7 \times 2.5}{100} \\
& =\frac{85000 \times 7 \times 25}{100 \times 10} \\
& =85 \times 7 \times 25 \\
& =\text { Rs } 14875
\end{aligned}
$
$\therefore$ The total interest received by Shrikant at the end of the period is Rs 14875 .

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Question 63 Marks

Jethalal took a housing loan of Rs 2,50,000 from a bank at 10 p.c.p.a. for 5 years. What is the yearly interest he must pay and the total amount he returns to the bank ?

Answer

Here, $P=$ Rs $250000, R=10$ p.c.p.a., $T=5$ years
$
\begin{aligned}
& \therefore \text { Total interest }=\frac{ P \times R \times T }{100} \\
& =\frac{250000 \times 10 \times 5}{100} \\
& =2500 \times 10 \times 5 \\
& =\text { Rs } 1,25,000 \\
& \therefore \text { Yearly interest }=\text { Total interest } \div \text { Time }=1,25,000 \div 5=\text { Rs } 25000 \\
& \text { Total amount to be returned }=\text { Principal }+ \text { Total interest } \\
& =250000+125000=\text { Rs } 375000
\end{aligned}
$
$\therefore$ The yearly interest is Rs 25,000 and Jethalal will have to return Rs $3,75,000$ to the bank.

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Question 73 Marks

If Rihanna deposits Rs 1500 in the school fund at 9 p.c.p.a for 2 years, what is the total amount she will get ?

Answer

Here, $P=$ Rs $1500, R=9$ p.c.p.a,$T=2$ years
$
\begin{aligned}
& \therefore \text { Total interest }=\frac{P \times R \times T}{100} \\
& =\frac{1500 \times 9 \times 2}{100} \\
& =1500 \times 9 \times 2 \\
& =\text { Rs } 270 \\
& \therefore \text { Total amount = Principal }+ \text { Interest } \\
& =1500+270 \\
& =\text { Rs } 1770
\end{aligned}
$
$\therefore$ Rihanna will get a total amount of Rs 1770 .

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Maths 3 Mark Question

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