MHSB - 7 - Maths :: Bank and simple interest

Go To:MSCERT-Mathematics-Grade 7

[edit]

Course Content / Subtopic list:

Types Of Accounts(Current, Saving,Recurring)
Capital And Interest

Lesson Plan

[Contributor - Kripa S]

Objective: Introduce different types of bank accounts, interest calculation in banks

Subtopics to be covered:

- Amount = Principal + Interest

- Define the terms rate of interest, pcpa, principal

- Interest formula, calculation of amount payment on principal

Learning Outcome:

- Students know how to calculate interest over principal deposited in bank (PNR/100)

- They can solve word problems on banking and interest calculation

Videos

[Contributor - Kripa S]

https://www.youtube.com/watch?v=2U8pGXca6VU (simple interest)

https://www.youtube.com/watch?v=gDFAfZbnwQM (simple interest problems)

Images

[Contributor - Kripa S]

http://www.onemint.com/wp-content/uploads/2010/06/rising-interest-rates.jpg (bank interest)

https://www.handsonbanking.org/financial-education/wp-content/uploads/2012/11/TEENS_04_02_10_EN.jpg (interest from bank on deposit)

http://www.career90.com/images/uploads/1737161617_simple-interest.jpg (simple interest)

https://www.estoniancu.com/sites/default/files/chart1.png (simple vs compound interest)

Activities

[Contributors - Stuti Shah, Niya Nath]

1. Ask students to form groups of 2. Ask each member to draw a note of a certain value above Rs. 50 and give it to their partner. Ask each student to then accept this note from their partner and calculate simple interest on it for 3 years, if the rate at which interest is equal to 6%. Write down this interest amount in a piece of paper and return it to their partner.

2. Ask students to form groups of 4 and make mock plays, where two individuals are the customers, and 2 people are the bank employees. The customers will state the principal, and the bank employees will state the rate. The time period is 5 years. Whichever team (employees or customers) calculates the interest first, wins.

3. Divide the class into 3 small groups of 2 people each. Each group should represent a Bank (Bank A, Bank B and Bank C). Each member of the group chooses a designation like Manager and Clerk. Let the other students be the customers. Each customer should visit the Bank A, B and C and inquire about the services and various interest rates. At the end let the customers choose the Bank which offers the best services and lowest loan interest rates.

Additional Aids

[Contributors - Kripa S, Niranjan Kadam]

https://community.ekstep.in/preview/content/do_31217921324921651221216 (Video on bank interest) (Source: Ekstep)

https://community.ekstep.in/preview/content/do_31217290885867110421425 (Video on Simple interest) (Source: Ekstep)

https://drive.google.com/open?id=0BzNF2YyqQxJ-UU9MVm1QMWdZSGM (Answer Key]

Transliteration

[Contributor - Niranjan Kadam]

Term	Transliterated Term	Translated Term
bank	बँक	बँक
account	अकाउंट	खाते
transaction	ट्रान्सआकशन	अर्थनियोजन
money	मनी	पैसे
current account	करंट अकाउंट	चालू खाते
savings account	सेविंग्स अकाउंट	बचत खाते
recurring deposit account	रेकररिंग डिपॉझिट अकाउंट	आवर्ती ठेव खाते
fixed deposit	फिक्स्ड अकाउंट	मुदत ठेव
depositer	डिपॉझिटर	ठेवीदार
debit card	डेबिट कार्ड	डेबिट कार्ड
credit card	क्रेडिट कार्ड	क्रेडिट कार्ड
bank passbook	बँक पासबुक	बँकेचे पासबुक
principal	प्रिंसिपल	मुद्दल
interest	इंटरेस्ट	व्याज
amount	अमाऊंट	रास
rate	रेट	व्याजाचा दर