Class 8 Compound Interest Assignment

 Class 8 Compound Interest Assignment

Q1. What will be the compound interest on $4000 for 2 years at 5%p.a.

Ans:- $410

Q2. Find the compound interest on $1000 at 8% p.a. for 11/2 year when interest is compounded half yearly .

Ans:- P= $1000

R= 8% p.a. = 4% half yearly

T= 11/2 year = 3 half years

A= 1124.86

CI = 124.86

Q3. Find the compound interest on $160000 for 1 year at the rate of at the rate of 20% p.a. if the interest is compounded half yearly .

Ans

Amount = $193600 CI = $33600

Q4. Rahul borrowed $20000 from his friend Roopam at 18%p.a. for simple interest.. He lent it to Akshay at the same rate but compounded annually. Find his gain after 2 years.

P= $20000 R = 18%p.a. T= 2 years

SI = $7200

CI = $ 7848

Difference = $648

Q5. Find the CI on $8000 for 9 months at 20% p.a. compounded quarterly.

Ans:- R= 20%p.a. = 5% per quarter

T= 9 months = 3 quarters

CI = $1261

Q6. Find CI at 10% p.a. for 2 years on that principal in which two years at 10%p.a. gives simple interest $200.

P= $1000

CI =$210

Q7. Find the principal if the interest compounded annually at the rate of 10%p.a.for two years is RS 210.

A= 121p/100

CI = A-P

210= 121p/100 -P

210 = P ( 121/100-1)

210 = P ( 121-100/100)

210 = P X 21/100

210X100/21=P

P= $1000

Q8. The diffrence between CI and SI on a certain sum at 15% p.a. for 3 years is $283.50. Find the Sum.