Home
Class 7
MATHS
Puri had invested a certain sum of money...

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.

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem step by step, let's break down the information provided and use the formula for simple interest. ### Step 1: Define the Variables Let the original deposit be represented as \( P \). According to the problem, the interest rate was initially \( 4.5\% \) per annum but was reduced by \( 0.5\% \). Therefore, the new interest rate is: \[ R = 4.5\% - 0.5\% = 4\% \] ### Step 2: Calculate the Interest Without Withdrawal If Puri had not withdrawn any money, the interest he would have received at the original rate for one year would be: \[ \text{Interest} = \frac{P \times R \times T}{100} = \frac{P \times 4.5 \times 1}{100} = \frac{4.5P}{100} \] ### Step 3: Calculate the Interest After Withdrawal Puri withdrew \( ₹4000 \), so the remaining amount in his account is: \[ \text{Remaining Amount} = P - 4000 \] The interest on this remaining amount at the new rate of \( 4\% \) for one year would be: \[ \text{Interest after withdrawal} = \frac{(P - 4000) \times 4 \times 1}{100} = \frac{4(P - 4000)}{100} = \frac{4P - 16000}{100} \] ### Step 4: Set Up the Equation According to the problem, the interest he received after the withdrawal was \( ₹200 \) less than what he would have received if he had not withdrawn the money. Therefore, we can set up the equation: \[ \frac{4.5P}{100} - 200 = \frac{4P - 16000}{100} \] ### Step 5: Eliminate the Denominator To eliminate the denominator, multiply the entire equation by \( 100 \): \[ 4.5P - 20000 = 4P - 16000 \] ### Step 6: Rearrange the Equation Rearranging the equation gives: \[ 4.5P - 4P = 20000 - 16000 \] \[ 0.5P = 4000 \] ### Step 7: Solve for \( P \) Now, divide both sides by \( 0.5 \): \[ P = \frac{4000}{0.5} = 8000 \] ### Conclusion Thus, the original deposit that Puri made is: \[ \text{Original Deposit} = ₹8000 \]
Promotional Banner

Topper's Solved these Questions

  • SIMPLE INTEREST

    ICSE|Exercise Revision exercise|13 Videos
  • SIMPLE INTEREST

    ICSE|Exercise unit practice paper III|7 Videos
  • SIMPLE INTEREST

    ICSE|Exercise Try this |11 Videos
  • SETS

    ICSE|Exercise EXERCISE 6 D|23 Videos
  • SIMPLE LINEAR EQUATIONS

    ICSE|Exercise Unit Practice Paper II |8 Videos

Similar Questions

Explore conceptually related problems

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.

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.

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.

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.

Simple interest on a certain sum of money for 3 years at 5% per annum is rupes 600. find the amount due and compound interest on this sum at the same rate after 3 years. The interest being reckoned annually.

A sum of Rs 4000 is lent for 5 years at the rate of 15% per annum. Find the interest.

On a certain sum of money, invested at the rate of 5% per annum compounded annually, the difference between the interest of the first year and the interest of the third year is रु 61.50. Find the sum.

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

The simple interest on a certain sum of money for 3 years at 5% per annum is Rs 1,200. Find the amount due and the compound interest on this sum of money at the same rate and after 2 years, interest is reckoned annually.

Simple interest on a certain sum of money for 4 years at 4% per annum exceeds the compound interest on the same sum for 3 years at 5 percent per annum by Rs 228. Find the sum.