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Simple Interest — Flashcards

ICSE · Class 7 · Mathematics

22 flashcards for Simple Interest (ICSE Class 7 Mathematics) to test yourself on key terms and facts. Sample: "Solve: Find the simple interest on ₹3,000"

56 questions22 flashcards5 formulas & key relations5 concepts

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22 Flashcards·
Simple Interest calculationAmountFormula applicationConcept understandingPrincipal from interest
Card 1Simple Interest calculation

Solve: Find the simple interest on ₹3,000 at 4% per year for 5 years.

Answer

Step 1: Use the formula I = (P × R × T) / 100. Step 2: Substitute the values: I = (3000 × 4 × 5) / 100. Step 3: Multiply: 3000 × 4 × 5 = 60,000. Step 4: Divide by 100: I = 600. Answer: The simple inte…

Card 2Amount

Solve: Find the amount on a loan of ₹3,000 at 4% per year for 5 years.

Answer

Step 1: First find the interest. I = (P × R × T) / 100 = (3000 × 4 × 5) / 100 = 600. Step 2: Use Amount = Principal + Interest. A = 3000 + 600 = 3600. Answer: The amount is ₹3,600.

Card 3Formula application

When do you use I = (P × R × T) / 100?

Answer

Use this formula when the principal, rate, and time are known, and the interest is needed. Example: P = ₹800, R = 6% per month, T = 9 months. I = (800 × 6 × 9) / 100 = 432. Answer: The interest is ₹43…

Card 4Simple Interest calculation

Solve: Find the interest on ₹800 at 6% per month for 9 months.

Answer

Step 1: Use I = (P × R × T) / 100. Step 2: Substitute values: I = (800 × 6 × 9) / 100. Step 3: Multiply: 800 × 6 × 9 = 43,200. Step 4: Divide by 100: I = 432. Answer: The interest is ₹432.

Card 5Concept understanding

Why must time be taken in the same unit as the rate?

Answer

The rate tells how much interest is earned in a fixed time unit, so time must match that unit. If the rate is per year, time is in years. If the rate is per month, time is in months. Example: For 6% p…

Card 6Simple Interest calculation

Solve: Find the simple interest on ₹900 for 73 days at 8 3/4% per year.

Answer

Step 1: Convert 8 3/4% to 35/4%. Step 2: Convert 73 days to years: 73/365 = 1/5 year. Step 3: Use I = (P × R × T) / 100. Step 4: I = (900 × 35/4 × 1/5) / 100. Step 5: Simplify to get I = 15.75. Answer…

Card 7Concept understanding

Why is the starting date not included when counting days for interest?

Answer

For finding time, the starting date is not included, but the ending date is included. Example: From August 10 to October 22, August 10 is not counted, but October 22 is counted. This helps get the cor…

Card 8Principal from interest

Solve: Find the principal if the interest is ₹480 in 3 years at 16% per year.

Answer

Step 1: Use the formula for principal: P = (I × 100) / (R × T). Step 2: Substitute values: P = (480 × 100) / (16 × 3). Step 3: Multiply bottom: 16 × 3 = 48. Step 4: Divide: 48000 / 48 = 1000. Answer: …

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Frequently Asked Questions

What are the important topics in Simple Interest for ICSE Class 7 Mathematics?
Key topics in Simple Interest include Terms Used in Simple Interest, Formula Rearrangement and Use, Time and Rate Rules, Worked Examples and Short Methods. Study these first, then practise questions on each for Class 7 exams.
How many flashcards are available for Simple Interest?
There are 22 flashcards for Simple Interest covering key definitions, facts and ideas. A few sample cards are shown on this page.
How should I revise Simple Interest for Class 7 exams?
Learn the core ideas first, then work through the 56 practice questions on Simple Interest. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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