Final Cover - For Printing

Interest on 100 units for one year = r

Therefore, interest on ‘p’ units for one year

Interest on ‘p’ units for ‘n’ years 100 pr × n = 100 pnr

Interest , I = 100 pnr

Once the child is clear with the idea of simple interest, then the formula for finding

the simple interest may be taught. Initially, the symbols such as ‘I, p, n, r’ are to be

made known and what they represent must also be emphasized upon.

7. Recurring deposit
   A recurring deposit is a deposit in which the same amount is deposited for a particular
   period in regular intervals of time.

The idea may be explained to the child orally.

8. Commission (Brokerage)
   When a house or a piece of land is purchased, some amount has to be given to the
   person who helps in the transaction. This amount is known as commission (or
   brokerage). The person who receives the commission is known as the broker and the
   commission is always given in terms of percentage.

The idea of commission may be explained to the child orally assisted by necessary

text material in Braille.

9. Discount
   Discount is a deduction from the usual cost of something. The idea of commission
   may be explained to the child orally.


10. Calculating the number of days
    Calculation of the number of days is vital for certain organizations such as the bank
    wherein the exact number of days of lending a loan to a customer has to be calculated