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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Example of Compounded Interest Are Given

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.

Answer:

(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?

Answer:

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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