A bank gives 10% Simple Interest (S.I.) on deposits by senior citizens. Draw a graph to illustrate the relation between the sum deposited and simple interest earned. Find from your graph (a) the annual interest obtainable for an investment of Rs 250. (b) the investment one has to make to get an annual simple interest of Rs 70.
Answers
Answer:
Solution
The correct option is D ₹45 and ₹800
Deposit Interest
₹100
100
×
1
×
10
100
= ₹10
₹200
200
×
1
×
10
100
= ₹20
₹300
300
×
1
×
10
100
= ₹30
₹400
400
×
1
×
10
100
= ₹40
₹1000
1000
×
1
×
10
100
= ₹100
Using the formula for calculating the simple interest, the following table of values is prepared.
Deposit(in. ₹) 100 200 300 400 1000
Annual S.I. (in. ₹) 10 20 30 40 100
These are the points which are to be plotted in the graph sheet. Let us take the deposits along x-axis and annual simple interest along y-axis.
We choose the scale as follows:
Then we plot the points and draw the straight line.
From the graph we find:
(i) Corresponding to ₹450 on the x-axis, we get the interest as ₹45 on the y-axis.
(ii) Corresponding to ₹80 on the y-axis, we get the deposit as ₹800 on the x-axis.
Answer is: Rs 700.
Step-by-step explanation: A bank gives 10% Simple Interest (S.I.) on deposits by senior citizens. Draw a graph to illustrate the relation between the sum deposited and simple interest earned. Find from your graph (a) the annual interest obtainable for an investment of Rs 250. (b) the investment one has to make to get an annual simple interest of Rs 70.
Simple interest = P * r * T / 100
P = Principle
r = rate of interest = 10% per annum
T = Investment Years
Simple interest = P * 10 * T/100 = PT/10
Simple interest for one years = P/10
Interest for 10 years = (P/10)*10 = P
in 10 years interest = Principle
P = Rs 250
Interest for one year = 250/10 = Rs 25
Interest = Rs 70
70 = P/10
=> P = 700
Rs 700 to be invested to get Simple annual interest of Rs 70.
Do you get it ?