NCERT Class 8 Mathematics Solutions: Chapter 8 – Comparing Quantities Exercise 8.3 Part 1

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Compound interest formula

Compound Interest Formula

Compound interest formula

Question: 1 Calculate the amount and compound interest on:

(a) Rs. 10,800 for 3 years at per annum compounded annually.

(b) Rs. 18,000 for years at 10% per annum compounded annually.

(c) Rs. 62,500 for years at 8 % per annum compounded annually.

(d) Rs. 8,000 for 1 year at 9% per annum compounded half yearly (You could the year by year calculation using S.I. formula to verify).

(e) Rs. 10,000 for 1 year at 8% per annum compounded half yearly.

Answer:

(a) Given, Principal (P) = Rs. 10,800, Time (n) =3 year, Rate of Interest (R)

Amount (A)

Compound Interest

(b) Given,

Principal (P) = Rs. 18,000, Time (n) = , Rate of Interest (R)

Amount (A)

Interest for on Rs. 21,780 at rate of 10%

Total amount for

Compound Interest (C.I.)

(c) Given,

Principal (P) = Rs. 62,500, Time (n) = year, Rate of Interest (R)

Rate of interest half of half yearly.

Amount (A)

Compound Interest

(d) Given,

Principal (P) = Rs. 8,000, Time (n) = half-years (compounded half yearly), Rate of Interest (R) (compounded half yearly)

Amount (A)

Compound Interest

(e) Rs. 10,000 for 1 year at 8% per annum compounded half yearly.

2 half years in one year.

Principal (P) Rs. 10,000, Time (n) years, Rate of Interest (R)

Amount (A)

Compound Interest