Maharashtra State Board Class 6 Maths Solutions Chapter 14 Banks and Simple Interest Practice Set 35
Question 1.
At a rate of 10 p.c.p.a., what would be the interest for one year on Rs 6000?
Solution:
Principal Amount = Rs 6000
Rate of Interest = 10 p.c.p.a.
Let interest on principal Rs 6000 be Rs x.
By taking ratio of the interest to the principal for both, we obtain an equation x 10
∴ The interest for one year is Rs 600.
Question 2.
Mahesh deposited Rs 8650 in a bank at a rate of 6 p.c.p.a. How much money will he get at the end of the year in all?
Solution:
Principal Amount = Rs 8650
Rate of interest = 6 p.c.p.a.
Let interest on principal Rs 8650 be Rs x
By taking ratio of the interest to the principal for both, we obtain an equation
∴ Amount received at the end of the year = Principal amount + Interest
= Rs 8650 + Rs 519
= Rs 9169
∴ Mahesh will get Rs 9169 at the end of the year.
Question 3.
Ahmad Chacha borrowed Rs 25,000 at 12 p.c.p.a. for a year. What amount will he have to return to the bank at the end of the year?
Solution:
Principal Amount = Rs 25,000
Rate of interest = 12 p.c.p.a.
Let interest on principal Rs 25,000 be Rs x
By taking ratio of the interest to the principal for both, we obtain an equation
Amount to be returned to the bank at the end of the year = Principal Amount + Interest
= Rs 25,000 + Rs 3,000
= Rs 28,000
Ahmad Chacha has to return Rs 28,000 to the bank at the end of the year.
Question 4.
Kisanrao wanted to make a pond in his field. He borrowed Rs 35,250 from a bank at an interest rate of 6 p.c.p.a. How much interest will he have to pay to the bank at the end of the year?
Solution:
Principal Amount = Rs 35,250
Rate of interest = 6 p.c.p.a.
Let interest on principal Rs 35,250 be Rs x
By taking ratio of the interest to the principal for both, we obtain an equation
∴ Kisanrao will have to pay an interest of Rs 2115 to the bank at the end of the year.
Maharashtra Board Class 6 Maths Chapter 14 Banks and Simple Interest Practice Set 35 Intext Questions and Activities
Question 1.
Study the figure given below and answer the following questions (Textbook pg. no. 74)
- In the above picture, who are the people shown to be using bank services?
- What does the symbol on the bag in the centre stand for?
- What do the arrows in the given picture tell you?
Solution:
- Students, farmers, Women’s savings groups, industrialists / professionals and traders / businessmen are shown to be using bank services.
- The symbol on the bag in the center stands for rupees.
- The arrows tell us about the monetary transactions taking place. In simple words, it explains the give and take relationship.
Question 2.
Visit the Bank (Textbook pg. no. 74)
- Teachers should organise a visit to a bank. Encourage the children to obtain some preliminary information about banks.
- Help them to fill some bank forms and slips for withdrawals and deposits.
- If there is no bank nearby, teachers could obtain specimen forms and get the children to fill them in class.
- Give a demonstration of banking transactions by setting up a mock bank in the school.
- Invite participation of parents who work in banks or other bank employees to give the children more detailed information about banking.
Solution:
( Student should attempt this activity with the help of their teacher/parents.)