Question

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

Answer 1

SOLUTION

GIVEN

A bank gives 20% interest on deposits

The sum deposit is ₹ 100

TO DETERMINE

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

EVALUATION

Here it is given that

Principal = P = Rs 100

Rate of Interest = r% = 20%

Let Time = T years &

Interest earned = Rs I

We Know that

I = PRT/100

I = (100 × 20 × T) / 100

or I = 20T

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

Now we are going to draw the graph

Graph:

For graph refer to 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 ( Interest 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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