NCERT Class 8 Mathematics Solutions: Chapter 8 – Comparing Quantities Exercise 8.3 Part 1 (For CBSE, ICSE, IAS, NET, NRA 2022)

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Compound Interest Formula

Question: 1 Calculate the amount and compound interest on:

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

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

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

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

Answer:

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

Amount (A)

Compound Interest

(b) Given,

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

Amount (A)

Interest for on ₹ 21,780 at rate of 10 %

Total amount for

Compound Interest (C. I.)

(c) Given,

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

Rate of interest half of half yearly.

Amount (A)

Compound Interest

(d) Given,

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

Amount (A)

Compound Interest

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

2 half years in one year.

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

Amount (A)

Compound Interest

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