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Exercises · Q18

Q.The volume of a sphere with radius r is 4/3πr³. Write a Python program to find the volume of spheres with radius 7cm, 12cm, 16cm, respectively.

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Concept understanding — Simple Interest Calculation

Simple Interest: The Cost of Borrowing (or the Reward for Saving)

Imagine you lend a friend ₹100. A year later, they return the ₹100. You're even — but you also missed the chance to use that ₹100 yourself for a whole year. That inconvenience has a price. In finance, that price is called interest.

Simple interest is the most straightforward way to calculate that price. It says: the interest you earn (or pay) each year is a fixed percentage of the original amount you started with — no matter how many years pass.

The Core Intuition

Think of it like renting money. If you rent a car for a day, you pay a fixed daily rate. If you rent it for 5 days, you pay 5 times that daily rate. Simple interest works the same way:

  • The Principal (P) is the amount you lend or borrow — the "car."
  • The Rate (R) is the daily rental charge, expressed as a percentage of the car's value — the "rent per day."
  • The Time (T) is how many days you keep the car — the number of years.

The total rent (interest) is just: daily rent × number of days.

The Precise Statement

Simple Interest (SI)=P×R×T100\text{Simple Interest (SI)} = \frac{P \times R \times T}{100}

Where:

  • P = Principal (the original sum of money)
  • R = Rate of interest per year (in percent)
  • T = Time period (in years)

The Total Amount (A) you get back (or owe) at the end is:

A=P+SIA = P + \text{SI}

Why Divide by 100?

The rate RR is given as a percentage — say 10%. "10% per year" means you get ₹10 for every ₹100 you lend, each year. So for a principal PP, the interest for one year is:

10100×P=0.10×P\frac{10}{100} \times P = 0.10 \times P

That's the same as P×R100\frac{P \times R}{100}. For TT years, you multiply by TT, giving P×R×T100\frac{P \times R \times T}{100}.

A Worked Example

You deposit ₹2000 in a bank that offers 8% simple interest per year. You leave it for 3 years.

  • P = ₹2000
  • R = 8
  • T = 3

SI=2000×8×3100=48000100=₹480\text{SI} = \frac{2000 \times 8 \times 3}{100} = \frac{48000}{100} = ₹480

So after 3 years, you earn ₹480 in interest. Your total amount becomes:

A=2000+480=₹2480A = 2000 + 480 = ₹2480

Tip

Notice that each year you earn exactly the same interest: 2000×8100=₹160\frac{2000 \times 8}{100} = ₹160. Year 1: ₹160, Year 2: another ₹160, Year 3: another ₹160. The interest never grows because it's always calculated on the original ₹2000, not on the growing balance.

The Key Property (and its Limitation)

Simple interest is linear — the interest grows at a constant rate each year. This makes it easy to calculate and understand. …

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