Home
Class 7
MATHS
Arun has a certain sum deposited in a ba...

Arun has a certain sum deposited in a bank at `5%` per annum. The bank increases the rate of interest from `5%` to `6%`. Arun deposits `₹2000` more in his account. The annual interest received by him now is `₹220` more than before. Find his original deposite.

Text Solution

AI Generated Solution

The correct Answer is:
To find Arun's original deposit, we will follow these steps: ### Step 1: Define the variables Let the original deposit be \( P \). ### Step 2: Calculate the initial simple interest The initial rate of interest is \( 5\% \) per annum. The formula for simple interest (SI) is given by: \[ \text{SI} = \frac{P \times R \times T}{100} \] Where: - \( P \) = Principal amount (original deposit) - \( R \) = Rate of interest (5%) - \( T \) = Time (1 year) So, the initial simple interest is: \[ \text{SI}_{\text{initial}} = \frac{P \times 5 \times 1}{100} = \frac{5P}{100} \] ### Step 3: Calculate the new simple interest after the changes After the bank increases the interest rate to \( 6\% \) and Arun deposits an additional \( ₹2000 \), the new principal becomes \( P + 2000 \). The new simple interest is calculated as: \[ \text{SI}_{\text{new}} = \frac{(P + 2000) \times 6 \times 1}{100} = \frac{6(P + 2000)}{100} \] ### Step 4: Set up the equation based on the information given According to the problem, the new simple interest is \( ₹220 \) more than the initial simple interest. Therefore, we can write the equation: \[ \text{SI}_{\text{new}} - \text{SI}_{\text{initial}} = 220 \] Substituting the expressions we found: \[ \frac{6(P + 2000)}{100} - \frac{5P}{100} = 220 \] ### Step 5: Simplify the equation To eliminate the fraction, multiply the entire equation by \( 100 \): \[ 6(P + 2000) - 5P = 22000 \] Expanding the left side: \[ 6P + 12000 - 5P = 22000 \] Combining like terms: \[ P + 12000 = 22000 \] ### Step 6: Solve for \( P \) Subtract \( 12000 \) from both sides: \[ P = 22000 - 12000 \] \[ P = 10000 \] ### Conclusion Arun's original deposit is \( ₹10000 \). ---
Promotional Banner

Similar Questions

Explore conceptually related problems

Karan deposited a certain sum in a bank at 6% per annum. The bank increases the rate of interest from 6% to 7% . Karan deposits ₹4000 more in his account. The annual interest received by him now is ₹380 more than before. Find his original deposit.

Prem has deposited some mony in a bank 4% per annum. The bank increases the interest rate by 1% p.a. and Prem deposits an additional ₹3000 in his account. The annual interest he receives at the year end is ₹220 more that what he would have received if the bank had not increased the interest rate and had not deposited additional amount. Find the original deposite.

Malti has deposited certain sum in a bank at 3.5% per annum. The bank announces an increase in the interest rate by 1.5% p.a. Malti deposits an additional ₹2500 in the bank. The annual interest that Malti receives now is ₹221 , more than what she would have got earlier. Find the original deposite.

Puri had invested a certain sum of money in a bank at 4.5% per annum. The bank reduced the rate of interest by 0.5% p.a. Puri withdrew ₹4,000 from his account. At the end of the year, the interest he got was ₹200 less than what he would have got had the bank not reduced the interest rate and he had not withdrew ₹4000 . Find the original deposite.

A sum of Rs. 400 is lent at the rate of 5% per annum. Find the interest at the end of 2 years.

Mr. Sharma deposited Rs. 20000 as a fixed deposit in a bank at 10% per annum. If 30% is deducted as income tax on the interest earned, find his annual income.

Ritu has a Recurring Deposit Account in a bank and deposits ₹ 80 per month for 18 months. Find the rate of interest paid by the bank if the maturity value of this account is ₹ 1,554 .

Sonia had recurring deposite account in a bank and deposited Rs 600 per month for 2(1)/(2) years. If the rate of interest was 10% p.a., find the maturity value of this account.

Shyam deposited in a bank Rs 7500 for 6 months at the rate of 8% interest compounded quarterly. Find the amount he received after 6 months.