# NCERT Class 8 Mathematics Solutions: Chapter 8 – Comparing Quantities Exercise 8.3 Part 4 (For CBSE, ICSE, IAS, NET, NRA 2022)

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Question 7 Maria invested ₹ 8,000 in a business. She would be paid interest at 5 % per annum compounded annually.

(i) The amount credited against her name at the end of the second year.

(ii) The interest for the third year.

(i) The amount credited against her name at the end of the second year.

Here,

Principal (P) = ₹ 8000, Rate of Interest (R) = 5 % , Time (n) = 2 years

Amount (A)

(ii) The interest for the third year.

Here,

Principal (P) = ₹ 8000, Rate of interest (R) = 5 % , Time (n) = 3 years

Amount (A)

Interest for 3rd years

Question 8:

Find the amount the compound interest on ₹ 10,000 for years at 10 % per annum, compounded half yearly. Would this interest be more than the interest he would get if it was compounded annually?

Here, Principal (P) = ₹ 10,000,

Rate of Interest (R) = 10 %= 5 % (compounded half yearly)

Time (n) = years half year (compounded half yearly)

Amount (A)

Compound Interest

If it is compounded annually, then

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

Amount (A)

Interest for year =

Total amount

Now,

₹ 1,576.25 is more than ₹ 1,550.

Hence, interest is more when compounded half yearly.

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