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NCERT Exemplar Solutions Class 7 Mathematics Solutions for Comparing Quantities - Exercise in Chapter 7 - Comparing Quantities

Question 13 Comparing Quantities - Exercise

Amount received on ₹ 3000 for 2 years at the rate of 11% per annum is

(a) ₹ 2340 (b) ₹ 3660 (c) ₹ 4320 (d) ₹ 3330

Answer:

(b) ₹ 3660

From the question it is given that,

Principal= ₹ 3000

Time = 2 Years

Rate = 11%

Then, we know the formula of Simple interest I = (P × R × T)/100

I= (3000 × (11) × 2)/100

I = (3000 × 11 × 2)/100

I = ₹ 660

Amount = P + I

= 3000 + 660

= ₹ 3660

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