11 Profit and Loss SOME TERMS RELATED TO PROFIT AND LOSS Cost Price (CP): The price at which an article ts purchased ts called tts cost price, writtenas cp, NOTE The overhead expenses like sales tax, labour charges. cartages, etc., are included in the cost price. Selling Price (SP): The price at which an article ts sold is called its selling price, written as sp, Profit or Gain: If (SP) > (CP), then the seller has a gain or a profit. Loss: Gain = (SP) - (CP). Gain is always reckoned on CR Gain on & 100 is called gain per cent. Formula: Gain% = (S x 100 If (SP) < (CP), then the seller has a loss. Loss is always reckoned on CP. Loss on & 100 is called loss per cent. Formula: Loss% = (= x 100). Relevant Formulae () Gain = (SP) - (CP) (i) Loss = (CP) - (SP) (iti) Gass =( S100 fs (iv) Loss = (125x100 cP cP (100 + gain%) (100 ~1oss%) = 4 (vi) =f (v) sP { +e xer} w) sp { a xce} 100 100 (vil) CP = )-~—____ x SP viii) CP =; ————~___ {roo as } wa) {rao eae} EXAMPLE 1. Solution SOLVED EXAMPLES A tricycle was purchased for % 1120 and sold for € 1260. Find the gain and gain per cent. CP of the tricycle = & 1120. SP of the tricycle = % 1260. 152EXAUPLE?, solution EXAMPLE 3. Solution EXAMPLE 4, Solution Profit and Loss 153 Since (SP) > (CP), so there is a gain, Gain = (SP) - (CP) = % (1260-1120) =¥ 140, gain in% =| x1 Gain’ (e. 00 |% x1 =12.5% -(iim* 00 Jy = 12.5%, Hence, gain = % 140 and gain% = 12.5%, Anarticle was bought for % 400 and sold for ¥ 336, Find the loss and loss ‘percent. cP of the article = % 400. SP of the article = % 336, Since (SP) < (CP), so there is a loss, Loss = (CP) - (SP) = % (400 -336) =% 64, Loss% = (Se 100) cP -(: 10010} =16%. 400 Hence, loss = % 64 and loss% = 16%. If the cost price of 6 pencils is equal to the selling price of 5 pencils, find the gain per cent. Let the cost price of each pencil be & 1. Then, CP of 5 pencils = €5. SP of 5 pencils = CP of 6 pencils = % 6 => gain = (SP) - (cP) =% (6-5) =21 . gain = gain% =| 100 |e cP = 1 y100 }% = 20%. 5 Hence, gain% = 20%. If the cost price of 15 pens is equal to the selling price of 20 pens, find the loss per cent. Let the CP of each pen be @ 1. CP of 20 pens = % 20. SP of 20 pens = CP of 15 pens = % 15. ‘Thus, cP = % 20 and sp = 715 = loss = (CP) ~ (SP) = € (20-15) = > t0ss% =( 258 x x100 cP =(%x100 }y = 25%. 20 Hence, loss% = 25%.154 Mathematics for Class 7 XN To Find SP When CP and Gnin% or Loss% aro Given EXAMPLES, Find the SP of an articl for which CP = % 650 and gain% = 6%, Solution Given: CP = & 650 and gain% = 6%. (100 + gain%) { Too xCP = 2 {000291 as} =2( 108 650 |== 689. 100 100 Hence, the SP of the article is 689. sp 1 EXAMPLES, Find the SP of'a table whose CP is ¥ 3300 and sold at a loss of 10%, Solution CP of the table = % 3300 and loss% = 10%. gp = | 200=-1058%) 6, 100 _ ¢ J (400-10) a { 100 Hence, the SP of the table is € 2970. 90 =%{ ——x3300 |=% 2970. x sao} zg (0 x ) EXAMPLE7, An almirah was bought for ® 14360 and % 240 was spent on its transportation, a what price should it be sold to gain of 15%? Solution Total investment on almirah = & (14360 + 240) = % 14600. Gain required = 15%. SP = (115% of 14600) = 2(14600x145)-z 16790. 100 Hence, the required selling price is T 16790. To Find CP When SP and Gain% or Loss% are Given EXAMPLE®, By selling a chatr-for® 1440, a trader gains 20%. Find the cost price of the chalr. Solution Let the CP be & 100, Then, SP = % (100 + 20) = % 120. If the SP is = 120, then CP = = 100. If the SP is @ 1440, then CP = (i019) % 1200. Hence, the CP of the chair is € 1200. Alternative method ; (Using formula) SP = % 1440 and gain% = 20%. Using the formula, we have: 100 a «raat 100 100 == 4 x 440} = 8 . «[raa* o (s5*1420) % 1200, Hence, the CP of the chair is € 1200.panPles: solution EXANPLE 10. olution EXAMPLE 11, Solution Profit and Loss By selling a rickshaw, togain 12%? “Jor ® 9240, Banst loses 12%, For how much should he sell tt SP = € 9240 and loss% = 12%, 100 cp = %);}—_—"_ {ree Stan*s*} 155 =e{_100_ (100 — 12) *9240F = *(Gexens0}- % 10500. Now, CP = % 10500, gain required = 12%, (100 + gain%) sp =%j)——_ Ss { 100 xce} (100 +12) 112 z {(PTaG 2 xx0s00} =* (jog 10800 )=¢ 11760. Hence, the required selling price is 11760, An electrician sells a room heater for % 3220, gatning 2 = of Its cost price. Find his gain per cent. Let the cost price be % x. Then, gain = % (5) sp=2(x4% Jaz. 6 6 But, SP = % 3220 “ (given) 7: ae =3220 = x = (s220$)- 2760. +: CP = 2760 and sp = 3220 = gain = (SP) ~ (CP) = & (8220-2760) =% 460 = own-(roeh 480 100 =m =162 %. 2760 Aman sold two radios at % 4800 each. On one he gains 20% and on the other he loses 20%. Find the gain or loss per cent in the whole transaction. First radio : SP = % 4800, gain = 20% 100 = 4{—_———___- x SP laao ‘gain%) © } 100 100 == {| _ 4800} =% | ——x 4800 ea 8 | ( 120 Second radio : SP = % 4800, loss = 20% 100 =4—————_- xSP oe {ioe ease; } 100 100 = %4———__x 4800 =*( x 4800 See) } 80 % 4000. 6000.156 EXAMPLE 12, Solution EXAMPLE 13, Solution Mathematics for Class 7 Total CP = % (4000 + OOO) = % 10000, Total SP = (4800x 2) =¥ 9600. Since (CP) > (SP), there ts a loss. Loss = % (10000 - 9600) = 400. 400 Loss% =| ——— x 100 ]% = 4%. 10000 Awatch when sold at a profit of 6% ylelds 870 more than when It ts sold ata tos, of 6%. Find the cost price of the watch. Let the CP of the watch be & x. 106 Then, its SP at 6% gain = & (« x00 And, its SP at 6% loss = (i )= But, difference in two selling prices = € 870. 88x _ 47x SOx mEA (xi = 47x) = 87050 5G 5G 7870 = (63x-47x) = 6x =(870x50) a (870559) = 7250. Hence, the cost price of the watch is € 7250. If the manufacturer gains 6%, the wholesale dealer 8% and the retailer 10%, then what is the production cost of a geyser whose retail price is = 15741? Let the production cost of the geyser be Z x. Manufacturer's gain = 6%. SP of the manufacturer = 106% of & x = (« Wholesale dealer's gain = 8%. SP of the dealer = 108% of of 52x = ¢( 53% ,,108)_ (53x 27 50 100 50 *95 Retailer's gain = 10%. SP of the retailer = 110% ors (S5zs) = ¢(58%,,27, 110 58x 2 Gaq inion xt 50 “25 ~100 =* 50 25 But, the retail price is € 15741. 58x 27 1 5741 => x = 15741x50x25 x10 50 25°10 53x27x11 Hence, the cost of production of the geyser is € 12500. =12500.Profit and Loss 157 EXERCISE 114, Find the sp when: (n cP = £950, gan = 6% (W) cr is & 79600, gain = 16 ry quay cP = ©1540, loss = 4% (lv) CP = % 8640, loss = 12. Rie z pind the gain or loss per cent when: {) cP = © 2400 and sp = % 2592 (1) CP = % 1650 and sp = % 1452 ai) cr 12000 and sp = % 12800 {iv) cP 1800 and sp = 7 1611 Find the CP when: i) SP = © 924, gain = 10% (W sP = € 1756, gain = 125 % {it SP = © 8510, loss = 8% Uw) sp = £5600, loss = 62 % Sudhir bought an almirah for = 13600 and spent % 400 on its transportation. He sold it for ¥ 16800. Find his gain per cent. Ravi purchased an old house for 7 765000 and spent 115000 on its repairs. Then, he sold it at a gain of 5%. How much did he get? Ayendor buys lemons at 25 per dozen and sells them at the rate of 5 for 12. Find his gain or loss per cent. Hint, Suppose he buys (125) = 60 lemons. 7. The selling price of 12 pens is equal to the cost price of 15 pens. Find the gain per cent. 8, The selling price of 16 spoons is equal to the cost price of 15 spoons. Find the loss per cent. 9. Manoj purchased a video for % 12000. He sold it to Rahul at again of 10%. If Rahul sells it to 10. uu. 12. 13. 4. 15. 16. 17. 18, 19, 20, Rakesh at a loss of 5%, what did Rakesh pay for it? On selling a sofa-set for € 21600, a dealer gains 8%. For how much did he purchase it? On sellinga watch for 11400, a shopkeeper loses 5%. For how much did he purchase it? On selling a calculator for € 1325, a man gains 6%. For how much should he sell it to gain 12%? On selling a computer for € 24480, a dealer loses 4%. For how much should he sell it to gain 4%? A tricycle is sold at a gain of 15%. Had it been sold for € 108 more, the profit would have been 20%. Find its cost price. Sandeep sold a television at a loss of 8%. If he had sold it for ¥ 3360 more, he would have gained 6%. For how much did Sandeep buy it? Pankaj sells two cycles for € 2376 each. On one he gains 10% and on the other he loses 10%. Find his gain or loss per cent. 1 On selling an exhaust fan for € 7350, a man gains ~ of its cost price. Find the cost price of the fan, Mohit sold a watch to Karim at a gain of 10% and Karim sold it to Rahim at a gain of 4%, If Rahim pays ¥ 14300 for it, for how much did Mohit purchase it? Ifthe manufacturer gains 10%, the wholesale dealer 15%, and the retailer 25% then what is the production cost of a washing machine whose retail price is ¥ 37950? Mr Mehta purchased a video for ¥ 20000 and a television for 30000. On the video he lost 5% and on the television he gained 8%. Find his total gain or loss per cent.158 21. 22, 4 By selling 36 oranges, a vendor suffers a loss equal to the selling price of 4 oranges. Fing loss per cent. ls Hint. (CP of 36 oranges) - (SP of 36 oranges) = SP of 4 oranges = CP of 36 oranges = SP of 40 oranges. Let the CP of each orange be & 1. By selling 8 dozen pencils, a shopkeeper gains the selling price of one dozen pencils, Fing his gain per cent. Hint. (SP of 8 dozen pencils) - (CP of 8 dozen pencils) = SP of 1 dozen pencils = SP of7 dozen pencils = CP of 8 dozen pencils. Let the CP of 1 dozen pencils be ® 1 ‘Mathematies for Class 7 EXERCISE 11B OBJECTIVE QUESTIONS Mark (/) against the correct answer in each of the following: 1. Aman buys a book for & 80 and sells it for 100. His gain% is (a) 20% (b) 25% (c) 120% (d) 125% 2. A football is bought for T 120 and sold for ¥ 105. The loss% is 1 2 2 1 = £ = d) 13% (a) 125% (by 147% () 165% (a) 133 On selling a bat for € 100, a man gains € 20. His gain% is (a) 20% (b) 25% (c) 18% (a) 22% . On selling a racket for % 198, a shopkeeper gains 10%. The cost price of the racket is (a) 7180 (b) 178.20 (c) € 217.80 (a) % 212.50 . On selling a jug for € 144, a man loses + of his outlay. If it is sold for & 189, what is the gain%? i (a) 12.5% (b) 25% (c) 30% (d) 50% Hint, Let the CP be €x. Then, x—1x=144 = (7x-x)=(144x7) = 6x-=144x7 ; x= 144X7 L163 2 CP =€ 168, new SP = % 189, Find gain%. . On selling a pen for ¥ 48, a shopkeeper loses 20%. In order to gain 20% what would be the selling price? (a) %52 (b) %56 (c) 768 (a) & 72 If the cost price of 12 pencils is equal to the selling price of 15 pencils, then the loss® (a) 20% (b) 25% (c) 3% (a) 162% 3 If the cost price of 4 toffees be equal to the selling price of 3 toffees, then the gain% 5 (a) 25% (b) 30% () 162% (a) 332% 3 On selling an article for ¥ 144 a man loses 10%. At what price should he sell it ° gilt 10%? (a) & 158.40 (b) & 172.80 (c) 8176 (a) 7 192Profit and Loss 159 10. vendor bought lemons at 6 for a Tupec and sold them at 4 for a rupee. His gain% is (a) 50% (b) 40% (c) 334% (a) 162% Hint. Suppose he bought 12 temons, 8 ° 3, On selling a chair for = 720, a man Sains 20%. The cost Price of the chair is (a) © 864 (b) 7576 (c) 7650 (d) % 600 32, On selling a stool for € 630, a man loses 10%. The cost price of the chair is (a) €567 (b) & 693 (c) = 700 (a) 730 = Things to Remember 1. (#) Gain =(SP) -(CP) (W) Loss =(CP) - (SP) 2. tnGains «(2a my ono (82100) cP 100 + 9a 9, ws = 100+ gatns) CP tn p= 100 tsnxcr 4. 0) cp =_100xSP_ uy cp=_100xSP_ (100+ gain%) 100 -t0ss%)160 8. Mathematics for Class 7 TEST PAPER-11 . By selling a chair for % 1375 a man gains 10%. Find Its cost price. If the selling price of 10 pens ts equal to the cost price of 14 pens, find gain per con, . On sellinga fan for € 2585 a man gains ports cost price. Find the cost price of the fan Aman buys lemons at 6 for % 10 and sells at 8 for £15. Find his gain per cent, Hint. Let the number of lemons bought be LCM {6, 10, 8, 15} = 120. On selling a bat for % 486 a man loses 10%. Find the cost price of the bat. B. Mark (/) against the correct answer in each of the following: 6. C. 10. D. 11. On selling a football for € 100, a man gains € 15. The cost price of the football is (a) F115 (b) € 85 (c) &70 (a) %130 ‘A vendor buys lemons at % 25 per dozen and sells at 5 for 12. His gain per cent is (a) 14.5% (b) 15% (c) 15.2% (a) 16% On selling a jug for % 168, a man loses 3 of his outlay. The cost price of the jug is (a) %144 (b) = 192 (c) 196 (d) none of these Ifthe cost price of 5 bananas be equal to the selling price of 3 bananas, then gain per cent is 1 2 (a) 33.5% (b) 15% (c) 665% (a) 40% Fill in the blanks. (i) Loss = (CP) ~(. 100 xSP vee) (ii) CP (iii) Profit or loss is always reckoned on ... (iv) 100 100 -10ss%) xSP =. Write ‘T’ for true and ‘F’ for false for each of the following: (1) Loss is reckoned on selling price. (ii) Gain is reckoned on cost price. 100 x SP aii) CP=———* ae (100 -loss%) (iv) Loss = (CP) - (SP).12 Simple Interest Sometimes we need to borrow money from a bank or time. At the end of this period, we have to pay a moneylender for a specified period of back the money which we had borrowed plus some additional money for using the lender's money. In this connection, we use the following terms. PRINCIPAL The money borrowed ts called the principal or the sum. INTEREST The additional money paid by the borrower is called the interest. AMOUNT — The total money paid by the borrower to the lender is called the amount. Clearly, amount = (principal + interest). RATE The interest on % 100 for 1 year is known as the rate per cent per annum. SIMPLE INTEREST If interest is calculated uniformly on the original principal throughout the loan period, it is called simple interest. In this chapter, the term interest means simple interest. In the previous class, we used to calculate simple interest by the unitary method. Using the unitary method, we can easily derive the formulae given below. FORMULAE Let principal = €P, rate = R % per-annum and time = T years. PXRXT Then, SI = 755 —. where SI stands for simple interest. From this formula, we have: 100xSI 00 x SI (un) 100x SI = OOxst pacha = 1005 8t OP (OR DT PxR ILLUSTRATIVE EXAMPLES EXAMPLE1. Find the simple interest on % 2500 for 2 years 6 months at 6% per annum. Also, Jind the amount. 5 Solution Principal = % 2500, rate = 6% p.a. and time Years. 5 cP =® 2500, R = 6% p.a. and T => years 161162 EXAMPLE2 Solution EXAMPLE3. Solution EXAMPLE 4. Solution Mathematics for Class 7 _ PXRxT 100 5 1 = (2500x6x2 x55 |= € 375 => SI 100 => amount = (principal + SI) = % (2500 + 375) = % 2875. simple interest = € 375 and amount = € 2875. Find the simple interest on % 7200 at 5% per annum for 8 months. Also, fing the amount. 8 2 Principal = % 7200, rate = 5% p.a. and time = ;> year = 3 year P =% 7200, R =5% p.a. and T= 2 year _ PXRxT ~~ 100 = amount = (principal + SI) = % (7200 + 240) = € 7440. <. S1=%240 and amount = = 7440. Find the simple interest on € 4500 at 8% per annum for 73 days. Also, find the amount. Principal = % 4500, rate = 8% p.a. and time = pam year = year. P =% 4500, R = 8% pa. and T = = year _PxRXxT “100 Vest =| 4500x8x=x—— ( * *3*i00) = amount = (principal + SI) =F (4500 + 72) = % 4572. SI = © 72 and amount = € 4572. = SI 72 What sum will amount to ¥ 5525 at 10% per annum simple interest in 3 years? Let the required sum be & x. Then, SI =% xx10x3x—. 23k, 100 10 amount = &(x +2% )- x 15x 10 10 But, amount = % 5525 (given) Boxe e ao) 79 79525 => x -(5525«33) 4250. Hence, the required sum is % 4250.ternate EXAMPLES. solution EXAMPLE 6. Solution EXAMPLE 7, Solution Simple Interest 163 1e method Let the required sum be 100, 1 Then, St =%{100x10x3x—_)_ ( *5) 30, amount = % (100 + 30) = % 130, Ifamount ts % 130, then sum = 100, Iamount is € 1, then sum = ¢ 100 130 If amount is 5525, then sum = % (is x $525) 2 4250. 30 Hence, the required sum s % 4250. At what rate per cent per annum will % 4500 amount to 5715 in 3 years? Principal = ¥ 4500, amount = % 5715, time = 3 years, ‘. {amount) — (principal) = % (6715 - 4500) =% 1215, Thus, P = % 4500, SI = & 1215 and T = 3 years. R “(rr pa. PXxT “(eas aeooxal s pa. =9% pa. Hence, the required rate is 9% p.a. In what time will % 3600 amount to % 4320 at 8% per annum simple interest? Principal = € 3600, amount = ¥ 4320 and rate = 8% p.a. SI = (amount) ~ (principal) = & (4320 - 3600) = & 720. Thus, P = % 3600, SI = % 720 and R = 8% p.a. p= (100%8!\ ears PxR )* 100x720 3600 8 ears = © years = 2+ years years = > years =2> years. 1 Hence, the required time is 2-> years. At what rate per cent per annum simple interest will a sum treble itself in 16 years? Let the sum be & x. Then, amount = % 3x. SI = (8x —x) =T 2x. Time = 16 years. Thus, P = % x, SI = % 2x and T = 16 years. p= 100xSI _ (Sac. }s pa. = 12.5% pa. PxT xxilé Hence, the required rate is 12.5% p.a.164 Mathematics for Class 7 EXANPLE 8, Solution EXAMPLES, Solution EXAMPLE 10. Solution 16 Simple interest on a certain sum ts >= of the sum. Find the rate per cent ang th e time if both are numerically equal. Let the sum be € x. Then, 16x, Sl= “( 25 } Let the rate be R% per annum and the time be R years. PXRxT 100 XXRXR 100) = Rt =( 75100) -64 > R= 64 =8. Hence, rate = 8% p.a, and time = 8 years. Asum of money at simple interest doubles itself in 8 years 4 months. In how much time will it treble itself? Let the sum be ® x. Then, amount = € 2x. SI = % (2x -x) =F x. Time = 8 rears 25 ears. = Bip Years "3 ‘Then, SI= Thus, P =% x, si = xand T= years ‘Again, sum = % x, amount = & 3x and rate = 12% p.a. Then, SI = ¥ (3x —x) =% 2x. r x, Si = €2x and R 100xSI e= PXxR _(100x 2x “( xx12 ears = = years = 16 years 8 months. Hence, the sum will treble itself in 16 years 8 months. Asum of money lent at simple interest amounts to% 3224 in 2 years and ® 41601" 5 years. Find the sum and the rate of interest. Amount in 5 years = (principal +SI for 5 years) = % 4160. Amount in 2 years = (principal +SI for 2 years) = 73224. On subtracting, we get SI for 3 years = % (4160-3224) = % 936 = Sl for 2 years = °(Fx2)-* 624 = sum = (amount for 2 years) —(SI for 2 years) = & (3224-624) = % 2600, Now, principal = € 2600, SI = ¥ 624, time = 2 years, 100xs1 _ (100x624 re XT = (Ze00%2 }s-12% paSimple Interest, 165 auwiet than the simple interest on the s the sum. Let the required sum be ® x. Then, Slon € x al 8% per annum for 3 years (: x8x3 )- 28x, 100 25 ston % x at 9% per annum for 2 years = (20s) ar solutton 100)" * 50° 6x 9x 95 50 796 = [12x-9x) = (96x50) = 8x=(96x50) = x= Hence, the required sum is 1600. puawele 2. Divide 12000 into two parts such that the simple interest on the first part for 2 years at 6% per annum is equal to the simple interest on the second part for 3 years at 8% per annum. solution —_Let the first part be & x. Then, the second part =¥ (12000 - x). XX 6X2 8x SI on ¥ x at 6% p.a. for 2 years = 2 J=z/ 3%). on® x at 6% p.a. for 2 years ( ss ) (3) SI on % (12000 — x) at 8% p.a. for 3 years = & {200 )x 8x3 100 (72000 -6x) 4 25 3x _ (72000~6x) 23S = 9x=72000 > x=8000. first part = = 8000, second part = % (12000 — 8000) = = 4000. 3x =72000-6x EXERCISE 124 Find the simple interest and the amount when: 1. Principal = % 6400, rate = 6% p.a. and time = 2 years. 1 2. Principal = % 2650, rate = 8% p.a. and time = 25 years. 3. Principal = % 1500, rate = 12% p.a. and time = 3 years 3 months. 1 = 4 Principal = % 9600, rate = 7.5 % p.a. and time = 5 months. 5. Principal = % 5000, rate = 9% p.a. and time = 146 days. Find the time when: 6. Principal = € 6400, SI = & 1152 and rate = 6% p.a. 7. Principal = ¥ 9540, SI = = 1908 and rate = 8% p.a. 8. Principal = % 5000, amount = 6450 and rate = 12% p.a.166 Mathematies for Class 7 Find the rate when: 9. Principal = % 8250, SI = % 1100 and time = 2 years. - 10. Principal = % 5200, SI = € 975 and (ime = 25 years, u. Principal = % 3560, amount = % 4521.20 and time = 3 years. 12. Shanta borrowed ¥ 6000 from the State Bank of India for 3 years 8 months at 1294 5, annum, What amount will clear off her debt? . 13. Hari borrowed % 12600 from a moneylender at 15% per annum simple interest, Ale 3 years, he paid € 7070 and gave a goat to clear off the debt. What is the cost of the goat ‘The simple interest on a certain sum for 3 years at 10% per annum is€ 829.50. Find the sum, A sum when reckoned at 7h% per annum amounts to ¥ 3920 in 3 years. Find the sum, Asum of money put at 11% per annum amounts to ® 4491 in 2 years 3 months. What will amount to in 3 years at the same rate? 14. 18. 16. 17. A sum of money invested at 8% per annum amounts to € 12122 in 2 years . What wil t amount to in 2 years 8 months at 9% per annum? 1 18. At what rate per cent per annum will ¥ 3600 amount to € 4734 in 35 years? 19. If% 640 amounts to % 768 in 2 years 6 months, what will 850 amount to in 3 years at the same rate per cent per annum? 20. In what time will € 5600 amount to % 6720 at 8% per annum? 21. Asum of money becomes 2 of itself in 5 years at a certain rate of simple interest. Find the rate of interest. 22. Asum of money lent at simple interest amounts to % 783 in 2 years and to € 837 in 3 years. Find the sum and the rate per cent per annum, . A sum of money lent at simple interest amounts to 7 4745 in 3 years and to % 5475 in 5 years. Find the sum and the rate per cent per annum. 24. Divide % 3000 into two parts such that the simple interest on the first part for 4 years at 8% per annum is equal to the simple interest on the second part for 2 years at 9% per annum. Divide 3600 into two parts such that if one part be lent at 9% per annum and the other at 10% per annum, the total annual income is 333. 25. EXERCISE 12B OBJECTIVE QUESTIONS Mark (/) against the correct answer in each of the following: 1. The simple interest on % 6250 at 4% per annum for 6 months is (a) % 125 (b) 150 (c) %175 (a) 7135, 2. Asum amounts to % 3605 in 219 days at 5% per annum. The sum is (a) % 3250 (b) % 3500 (c) €3400 (d) % 3550 3. Atsimple interest a sum becomes Sor itself in ae years. The rate of inerest per annum i (a) 6% (b) Coe (c) 8% (d) 9%Simple Interest 167 4, Jn what time will ¥ 8000 amount to % 8360 at 6% Per annum simple interest? (a) 8 months (b) 9 months (c) a years (ay 14 years 2 8, Atwhat rate per cent per annum simple interest will a sum double itself in 10 years? (a) 8% (b) 10% (c) 12% yey 2 6. The simple Interest at x% per annum for x years will be Z.x on a sum of (a) &x (b) & 100x () (S) w (2) x 2 2 7, The simple interest on a sum for 5 years is 5 0 the sum. The rate per cent per annum is (a) 10% (b) 8% (c) 6% 8. A borrows @ 8000 at 12% per annum simple interest and B borrows 9100 at 10% per annum simple interest. In how many years will their amounts be equal? (a) 18 years (b) 20 years (c) 22 years (d) 24 years 9, Asum of € 600 amounts to % 720 in 4 increased by 2%? . (a) © 724 (b) F648 (c) & 768 (d) & 792 10. x,y and z are three sums of money such that y is the simple interest on x and zis the simple interest on y for the same time and same rate. Which of the following is correct? (a) xyz=1 (b) 2? =xy (c) x? = yz (d) y? =zx 1 id) 125 (d) 2” years, What will it amount to if the rate of interest is (exRXT) Hint y=Stonx="*RAT) 2 _ sj on y= u 100 z y_(#xRxT, 100 = Ya[AXReT_100 _ z |" 100 “yxRxT y U1. In how much time would the simple interest on a certain sum be 0.125 times the principal at 10% per annum? {a) u years (b) 3 years (c) 2 + years (d) 23 years 3 12. Atwhich sum will the simple interest at the rate of 3 gi per annum be® 210 n2d years? (a) % 1580 (b) 2400 (c) % 2800 (a) none of these Things to Remember 1. The additional money glven by the borrower for using another person's money is called interest. 2. The money borrowed Is called the principal or sum. 3. Amount = (principal + interest). 4. Interest on % 100 for 1 year Is called the rate per cent per annum. 5. Ifthe interest ts reckoned uniformly on the original principal, (t is called the simple interest (written as SI), 6. IPR, T stand for principal, rate and time respectively, and SI stands for simple interest then: 100% SI w s1=PXRxT ) Pa 100%St (uy R= 100xSI Ww) T= PxT168 Mathematics for Class 7 TEST PAPER-12 A. 1. Find the simple interest on % 6300 at 8% per annum for 8 months. 2. What sum will amount to € 6600 in 2 years at 10% per annum simple interest? 3. At what rate per cent per annum simple interest will € 3625 amount to % 4495 jn 9 years? 4. In what time will 3600 amount to % 4410 at 9% per annum simple interest? 5. Atwhat rate per cent per annum simple interest will a sum double itself in 12 yearsp Aum of money becomes 4 of itself in 6 years at a certain rate of simple interest. Fing the rate of interest. B. Mark (/) against the correct answer in each of the following: 49 1 7. Atsimple interest a sum becomes 7 of itself in 25 years. The rate of interest per annum, is (a) 7% (b) 8% (0) 9% (d) 12% 8. Asum amounts to Z 3626 in 219 days at 6% per annum simple interest. The sum js (a) %3000 (b) & 3200 (c) 3500 (d) = 3600 9. Inwhat time will % 6000 amount to % 6360 at 8% per annum simple interest? (a) 9 months (b) 8 months () 15 years (ai ; years 10. The simple interest on a sum for 5 years is 3 ofthe sum. The rate per cent per annumis (a) 8% (b) 10% (c) 12% (a) 123% 11. The simple interest at x% per annum for x years will be & x on a sum of (a) &x (b) 710x (c) Z100x (a) (2) x 12, At what rate per cent per annum simple interest will a sum double itself in 10 years? (a) 8% (b) 10% (c) 12% (a) 123% C.13. Fill in the blanks. (iii) At ( )% per annum simple interest a sum doubles itself in 10 years. (i) At simple interest a sum becomes & of itself in 22 years. The rate of interest 8 )% per annum, D. 14. Write ‘T’ for true and ‘F” for false for each of the following: (i) Simple interest on % x for x years is & x. Then, the rate of interest is x% Per anu (i) Rate = 200*S1 Px (iii) A sum doubles itself at simple interest at 10% per annum in 10 years- (iv) Simple interest on % 1000 at 5% per annum for 73 days is % 10.