# MHSB - 7 - Maths :: Bank and simple interest

## Course Content / Subtopic list:

1. Types Of Accounts(Current, Saving,Recurring)
2. 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]

## Images

[Contributor - Kripa S]

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

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.

[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)

## Transliteration

 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

## Worksheets

Worksheets [Version 2021]