Question

A bank gives 20% interest on deposits. Draw a graph to illustrate the relation between the number of years and the simple interest earned when the sum deposited is Rs 100.

Answer 1

SOLUTION

GIVEN

• A bank gives 20% interest on deposits

• The sum deposited is Rs 100

TO DETERMINE

Draw a graph to illustrate the relation between the number of years and the simple interest earned

EVALUATION

Here it is given that

Principal = P = Rs 100

Rate of interest = r % = 20 %

Let Time = T years and

Interest earned = Rs I

We know that

$\displaystyle \sf{I = \frac{PRT}{100}}$

$\displaystyle \sf{ \implies \: I = \frac{100 \times 20 \times T}{100}}$

$\displaystyle \sf{ \implies \: I = 20 T}$

Which is the required relationship between the number of years and the simple interest earned

We now draw the graph

Graph : For graph refer to the attachment .

In the graph we have taken Time ( T ) along horizontal axis and Interest earned ( I ) along vertical axis

From graph and also from the above equation we can conclude that I ( Interset Earned ) is a linear function of T ( Number of years)

For example if the time is 3 years

Then T = 3

Then I = 20 × 3 = 60

In the graph the points are A ( 3, 0), B(3,60), C ( 0,60)

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Answer 2

step -step explaination :

SOLUTION

GIVEN :

• The bank gives 20% interest on deposits.

• The sum deposited is Rs 100.

To determine:

draw a graph to illustrate the relation between the

number of years and the simple interest earned.