# Money and Credit - Class 10 - Social Science

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## Extra Questions - Money and Credit | Understanding Economic Development | Social Science | Class 10

At what interest rate per annum should ₹3000 be invested for 2 years, so as to generate a simple interest of ₹300?

A) 5% per annum

B) 15% per annum

C) 10% per annum

D) 7.5% per annum

To solve for the **interest rate per annum** that can generate ₹300 as simple interest from a ₹3000 investment over 2 years, we use the simple interest formula:
$$
SI = \frac{P \times T \times R}{100}
$$
Where:

- $P = ₹3000$ (principal),
- $SI = ₹300$ (simple interest),
- $T = 2$ years (time period),
- $R$ is the rate of interest per annum we need to find.

Plugging the known values into the formula:
$$
300 = \frac{3000 \times 2 \times R}{100}
$$
This simplifies to:
$$
300 = \frac{6000R}{100}
$$
$$
300 = 60R
$$
Solving for $R$, we get:
$$
R = \frac{300}{60} = 5
$$
Thus, the interest rate per annum required is **5%**.

Hence, the correct answer is:

A) **5% per annum**

Nishu saves ₹120 from her pocket money. If she saves $10%$ of her pocket money, what is her pocket money? [3 MARKS]

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Cheque paid into bank were of Rs 25,000, but the cheque of Rs 10,000 was cleared and credited in our account by bankers, which was evident from the bank statement received on the last day of the month. If the closing balance as per the cash book is Rs 50,000, what will be the balance after the above situation?

A) Rs 65,000

B) Rs 35,000

C) Rs 50,000

D) Rs 15,000

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Find the $\mathrm{Cl}$ on Rs. 10,000 for 2 years at 20%$ per annum compounded semi-annually.

A) Rs. 4650

B) Rs. 4600

C) Rs. 4641

D) Rs. 4675