Simple Interest — Important Questions
ICSE · Class 7 · Mathematics
56 important questions from Simple Interest for ICSE Class 7 Mathematics, with answers. Part of the ICSE Class 7 Mathematics syllabus.
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Important Questions from Simple Interest
A sum of ₹1,500 becomes ₹2,040 at 8% per annum simple interest. Find the time in years and months.
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4 years 6 months
First find interest: I = A - P = 2040 - 1500 = 540. Now use T = I × 100 / (P × R). T = 540 × 100 / (1500 × 8) = 9/2 years. 9/2 years = 4.5 years = 4 years 6 months.
A sum of ₹992 amounts to a certain value at 4% per annum in 6 years. Find the principal using the unitary method pattern from the chapter.
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₹800
For ₹100 principal at 4% for 6 years, interest = 100 × 4 × 6 / 100 = ₹24. Amount = 100 + 24 = ₹124. So ₹124 corresponds to ₹100 principal. For ₹992 amount, principal = 992 × 100 / 124 = ₹800.
A sum of ₹2,100 fetches ₹525 as simple interest at 5% per annum. Find the time taken.
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5 years
Use T = I × 100 / (P × R). T = 525 × 100 / (2100 × 5) = 52500 / 10500 = 5. So the time taken is 5 years.
A sum of money doubles itself in 10 years at simple interest. Find the rate of interest per annum.
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10%
If the sum doubles, then amount = 2P. So interest I = 2P - P = P. Use R = I × 100 / (P × T). R = P × 100 / (P × 10) = 10. So the rate is 10% per annum.
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