   Question Answers

# Bhuvan made a fixed deposit of Rs. 15,000 in a bank on 1/1/2007 for 219 days under 12% p.a. simple interest. Find out the maturity value.A. Rs. 15,840B. Rs. 15,960C. Rs. 16,080D. Rs. 16,140  Hint: Use the formula $I=p\times r\times t$ to find the total interest. The maturity value would be the sum of money deposited + the interest.

Given, money deposited (invested) = Rs. 15,000 which is the principle.
Number of days = 219.
Rate of simple interest = 12% per annum.
We find the simple interest by the formula:
Simple interest = principal x rate x time
Since the rate of S.I is given per annum, i.e. per year, we convert days into year.
\begin{align} & \therefore \text{ simple interest =}15000\times \dfrac{12}{100}\times \dfrac{219}{365} \\ & =Rs.1,080 \\ \end{align}
$\therefore$maturity value = simple interest + principal
= Rs. (1,080 + 15,000)
= Rs. 16,080
Therefore, the answer is option (C) Rs. 16,080.

Note: Since the rate of simple interest is given per annum, make sure to convert days into years.
$S.I.=p\times r\times t$.Also date is just given for the reference,don't get confused because of that.
View Notes
Area of a Sector of a Circle Formula  Motion of a Charged Particle in Magnetic Field  Area of a Rhombus Formula  Perimeter of a Trapezoid Formula  Summary of a Photograph - Poem  Centroid of a Trapezoid Formula  Reconstitution of a Partnership Firm  Electric Field of a Sphere  Half-Life of a Reaction  The Making of a Scientist  Important Questions for CBSE Class 6 English Honeysuckle Chapter 8 - A Game of Chance  Important Questions for CBSE Class 6 English A Pact with The Sun Chapter 8 - A Pact with the Sun  Important Questions for CBSE Class 8 English Honeydew Chapter 8 - A Short Monsoon Diary  Important Questions for CBSE Class 8 English Honeydew Chapter 7 - A Visit to Cambridge  Important Questions for CBSE Class 11 Physics Chapter 4 - Motion in a Plane  Important Questions for CBSE Class 6 English A Pact with The Sun Chapter 1 - A Tale of Two Birds  Important Questions for CBSE Class 7 Social Science - Social and Political Life Chapter 8 - A Shirt In The Market  Important Questions for CBSE Class 11 Business Studies Chapter 7 - Formation of a Company  Important Questions for CBSE Class 11 Physics Chapter 3 - Motion in a Straight Line  Important Questions for CBSE Class 7 English Honeycomb Chapter 9 - A Bicycle In Good Repair  CBSE Class 10 Hindi A Question Paper 2020  Hindi A Class 10 CBSE Question Paper 2009  Hindi A Class 10 CBSE Question Paper 2015  Hindi A Class 10 CBSE Question Paper 2016  Hindi A Class 10 CBSE Question Paper 2012  Hindi A Class 10 CBSE Question Paper 2010  Hindi A Class 10 CBSE Question Paper 2007  Hindi A Class 10 CBSE Question Paper 2013  Hindi A Class 10 CBSE Question Paper 2008  Hindi A Class 10 CBSE Question Paper 2014  RS Aggarwal Class 8 Mathematics Solutions for Chapter-18 Area of a Trapezium and a Polygon  RS Aggarwal Solutions Class 8 Chapter-8 Linear Equations (Ex 8B) Exercise 8.2  RS Aggarwal Solutions Class 8 Chapter-8 Linear Equations (Ex 8A) Exercise 8.1  RS Aggarwal Class 8 Mathematics Solutions for Chapter-8 Linear Equations  RS Aggarwal Solutions Class 8 Chapter-8 Linear Equations (Ex 8C) Exercise 8.3  RS Aggarwal Solutions Class 8 Chapter-3 Squares and Square Roots (Ex 3H) Exercise 3.8  RS Aggarwal Class 8 Solutions  RS Aggarwal Solutions Class 7 Chapter-8 Ratio and Proportion (Ex 8A) Exercise 8.1  RS Aggarwal Solutions Class 7 Chapter-8 Ratio and Proportion (Ex 8B) Exercise 8.2  RS Aggarwal Solutions Class 8 Chapter-1 Rational Numbers (Ex 1H) Exercise 1.8  