RS Aggarwal Solutions Class 7 Chapter-12 Simple Interest (Ex 12A) Exercise 12.1

RS Aggarwal Solutions

RS Aggarwal Solutions Class 7 Chapter-12 Simple Interest (Ex 12A) Exercise 12.1

Last updated date: 18th Apr 2024

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RS Aggarwal Solutions Class 7 Chapter-12 Simple Interest (Ex 12A) Exercise 12.1 - Free PDF

To build a good foundation in mathematics, it is essential to learn it from the experts from the beginning. The subject matter experts have provided RS Aggarwal Solutions Class 7 Math Chapter 12a in an easily understandable manner. The RS Aggarwal Class 7 Math Exercise 12a Solutions are based on the latest CBSE curriculum, and every topic is explained in simple steps. These RS Aggarwal Solutions Class 7 Math Exercise 12a would help students understand the concepts of Simple Interest through various kinds of sums and their solutions.

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RS Aggarwal Class 7 Math Exercise 12 A

The questions in Class 7 Math RS Aggarwal Exercise 12a cover all the important aspects of the Simple Interest topic where one has to find Simple interest, amount, rate, or time, based on the given parameters. Students will learn about the following important concepts in RS Aggarwal Solutions Class 7 Math Chapter 12a:

Simple Interest - Simple Interest or S.I. is the method applied to find out the interest when a principal amount is lent at a specific rate of interest and specified time duration.
Formula to Calculate Simple Interest - Simple interest is given by the following formula:

S.I = (P * R * T)/100.

Where P - the principal amount

R - the rate of interest in percentage

T - the time period in years.

Formula to Calculate the Total Amount - The total amount which is payable after a duration of T years is found by the formula:

Amount (A) = Principal (P) + Simple Interest (S.I)

The Formula For S.I in Months - If one is given the time duration in months then the formula to calculate the Simple Interest would be:

S.I = (P * n * R)(12 * 100), where n is the number of months.

Let Us Understand These Concepts With A Few Problems:

Mr.X takes a loan from a bank for Rs 20,000, which lends the money at a 10% rate of interest. What is the total amount payable by Mr.X to the bank after 5 years:

To get the total amount due, let us first calculate the Simple Interest which is, S.I = (P * R * T)/100 = (20,000 * 10 * 5)/100 = 10,000

Total Amount payable after 5 years = P + S.I = 20,000 + 10,000 = 30,000

Ms. Y pays a total amount of 9000 to Mr Z for an amount of 7000 lent by Mr Z to Ms Y for 2 years. Calculate the rate of interest that Mr Z charges Ms Y on the amount lent.

Amount = S.I + P

S.I = Amount - P = 9000 - 7000 = 2000

(7000 * r * 2)/100 = 2000

Hence rate of interest, r = (2000 * 100)/(7000 * 2) = 14.29%

Preparation Tips for RS Aggarwal Class 7 Math Exercise 12 A

Try to do as many questions as possible on Simple Interest. As you keep doing questions of different kinds, you will be able to memorize the formulas better.
For calculating S.I where time is split into years and months like 3 years 2 months, remember that there are 12 months in a year. So, you need to convert the years into months and then divide the R.H.S of Simple Interest formula by 12. So here you will get 3 years = 3 * 12 = 36 months. Total months = 36 + 2 = 38 months, now you will put it in the S.I formula as:

S.I = (P * r * 38)/(12 * 100)

Conclusion

Simple interest taught in RS Aggarwal Solutions Math Class 7 Chapter 12 forms the basis for the more complex calculation of compound interest. Therefore students must get ample practice in this topic. Going through RS Aggarwal Solutions Class 7 Math Chapter 12a students can surely secure good grades in exams and be better prepared to solve any question on this topic.

FAQs on RS Aggarwal Solutions Class 7 Chapter-12 Simple Interest (Ex 12A) Exercise 12.1

1. Differentiate between Simple Interest Rate and Compound Interest Rate

Interest is the cost of borrowing money from a bank or an individual. There are two ways of calculating interest:

Simple interest - This is calculated on the original amount which is also known as the principal amount. The formula for simple interest is S.I = (P * n * i)/100 where P is the principal amount, n is the time period in years and i is the rate of interest.

Compound interest - This is calculated on the principal amount plus on the interest amount which has accumulated over the previous periods. It can also be defined as “an interest on an interest”. The formula to calculate compound interest is given by C.I = P [(1 + r/100)^t - 1]. Here P is the principal amount, r is the interest rate and t is the number of compounding periods of a year.

2. What kind of interest rate do banks use on deposits and loans and how does it impact customers?

Banks may use different interest rates on deposits and loan amounts. Based on their choice of interest your loan repayment and earnings from deposits would be impacted. For borrowers, a simple interest has less obligation as compared to compound interest. On the other hand, you would earn more if the bank applied a compound interest rate on your deposits. Banks typically use compound interest on nearly everything, but some kinds of loans are calculated as simple interest.

3. Is it beneficial to use RS Aggarwal Chapter 12 simple interest solutions?

Class 7 RS Aggarwal Chapter 12 exercise 12 A solution can be very helpful to the students seeking to get better marks in the examination. All the solutions are curated by subject matter experts at Vedantu with consideration for the convenience of the students. The step-wise solutions offered in the chapter provide the student with a clear idea to understand the concepts of profit and loss in the best possible way. Students can also download the solutions to the questions of exercise 11 B free of charge from the official website of Vedantu.

4. List the important topics or concepts discussed in Chapter 12 Simple interest

Listed below are the most important topics covered in Chapter 12 simple interest.

Definition and meaning of the principal
Definition and meaning of interest
Formula to calculate the amount after a certain period of time with a specific interest rate.
Definition and meaning of simple interest
Formula to calculate simple interest
Verbally related problems on simple interest

Students can understand all these topics from RS Aggarwal Chapter 12 (simple interest) solutions provided by Vedantu, India’s top online educator.

5. How many questions are there in exercise 12 A?

Class 7 RS Aggarwal Chapter 12 Simple Interest is split between two exercises, Exercise 12 A and exercise 12 B.

Exercise 12 A comprises 25 questions in total. These questions are based on the various aspects of Simple Interest, like Sums to find the final amount due after a certain period of time, with a specific interest rate. And problems finding the time required to collect a certain amount of simple interest on a specific principal amount with a fixed interest rate.