CBSE Class 8 > Class 8 Notes > ML Aggarwal: Simple & Compound Interest - 3
ML Aggarwal: Simple & Compound Interest - 3
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Page 1 1. Calculate the amount and compound interest on (i) Rs 15000 for 2 years at 10% per annum compounded annually. (ii) Rs 156250 for & & 3 years at 8% per annum compounded half- yearly. (iii) Rs 100000 for 9 months at 4% per annum compounded quarterly. Solution: (i) Given Principal (P) = Rs 15000 Rate (R) = 10% p.a. Period (n) = 2 years Hence, Amount (A) = 0 1 + 2 = Rs 15000 1 + On further calculation, we get, = Rs 15000 × × We get, = Rs 18150 Therefore, Compound interest = Amount – Principal = Rs 18150 – 15000 Page 2 1. Calculate the amount and compound interest on (i) Rs 15000 for 2 years at 10% per annum compounded annually. (ii) Rs 156250 for & & 3 years at 8% per annum compounded half- yearly. (iii) Rs 100000 for 9 months at 4% per annum compounded quarterly. Solution: (i) Given Principal (P) = Rs 15000 Rate (R) = 10% p.a. Period (n) = 2 years Hence, Amount (A) = 0 1 + 2 = Rs 15000 1 + On further calculation, we get, = Rs 15000 × × We get, = Rs 18150 Therefore, Compound interest = Amount – Principal = Rs 18150 – 15000 We get, = Rs 3150 (ii) Principal (P) = Rs 156250 Rate (R) = 8% p.a. or 4% half-yearly Period (n) = 1 years = 3 half-year Therefore, Amount (A) = 0 1 + 2 = Rs 156250 1 + On further calculation, we get, = Rs 156250 × = Rs 156250 × × × We get, = Rs 175760 Hence, Compound interest = Amount – Principal = Rs 175760 – Rs 156250 = Rs 19510 2. Find the difference between the simple interest and compound interest on Rs 4800 for 2 years at 5% per annum, compound interest being reckoned annually. Page 3 1. Calculate the amount and compound interest on (i) Rs 15000 for 2 years at 10% per annum compounded annually. (ii) Rs 156250 for & & 3 years at 8% per annum compounded half- yearly. (iii) Rs 100000 for 9 months at 4% per annum compounded quarterly. Solution: (i) Given Principal (P) = Rs 15000 Rate (R) = 10% p.a. Period (n) = 2 years Hence, Amount (A) = 0 1 + 2 = Rs 15000 1 + On further calculation, we get, = Rs 15000 × × We get, = Rs 18150 Therefore, Compound interest = Amount – Principal = Rs 18150 – 15000 We get, = Rs 3150 (ii) Principal (P) = Rs 156250 Rate (R) = 8% p.a. or 4% half-yearly Period (n) = 1 years = 3 half-year Therefore, Amount (A) = 0 1 + 2 = Rs 156250 1 + On further calculation, we get, = Rs 156250 × = Rs 156250 × × × We get, = Rs 175760 Hence, Compound interest = Amount – Principal = Rs 175760 – Rs 156250 = Rs 19510 2. Find the difference between the simple interest and compound interest on Rs 4800 for 2 years at 5% per annum, compound interest being reckoned annually. Solution: Given Principal (P) = Rs 4800 Rate (R) = 5% p.a. Period (n) = 2 years Therefore, S.I. = = " × × We get, = Rs 480 And when interest is compounded annually Amount (A) = 0 1 + 2 = Rs 4800 1 + = Rs 4800 × × We get, = Rs 5292 Hence, Compound interest = Amount – Principal = Rs 5292 – Rs 4800 = Rs 492 Now, Difference in compound interest and simple interest = Rs 492 – Rs 480 = Rs 12 Page 4 1. Calculate the amount and compound interest on (i) Rs 15000 for 2 years at 10% per annum compounded annually. (ii) Rs 156250 for & & 3 years at 8% per annum compounded half- yearly. (iii) Rs 100000 for 9 months at 4% per annum compounded quarterly. Solution: (i) Given Principal (P) = Rs 15000 Rate (R) = 10% p.a. Period (n) = 2 years Hence, Amount (A) = 0 1 + 2 = Rs 15000 1 + On further calculation, we get, = Rs 15000 × × We get, = Rs 18150 Therefore, Compound interest = Amount – Principal = Rs 18150 – 15000 We get, = Rs 3150 (ii) Principal (P) = Rs 156250 Rate (R) = 8% p.a. or 4% half-yearly Period (n) = 1 years = 3 half-year Therefore, Amount (A) = 0 1 + 2 = Rs 156250 1 + On further calculation, we get, = Rs 156250 × = Rs 156250 × × × We get, = Rs 175760 Hence, Compound interest = Amount – Principal = Rs 175760 – Rs 156250 = Rs 19510 2. Find the difference between the simple interest and compound interest on Rs 4800 for 2 years at 5% per annum, compound interest being reckoned annually. Solution: Given Principal (P) = Rs 4800 Rate (R) = 5% p.a. Period (n) = 2 years Therefore, S.I. = = " × × We get, = Rs 480 And when interest is compounded annually Amount (A) = 0 1 + 2 = Rs 4800 1 + = Rs 4800 × × We get, = Rs 5292 Hence, Compound interest = Amount – Principal = Rs 5292 – Rs 4800 = Rs 492 Now, Difference in compound interest and simple interest = Rs 492 – Rs 480 = Rs 12 3. Find the compound interest on Rs 3125 for 3 years if the rates of interest for the first, second and third year are respectively 4%, 5% and 6% per annum. Solution: Given Principal (P) = Rs 3125 Rate of interest for continuous 3 years = 4%, 5%, 6% Period (n) = 3 years Therefore, Amount = 0 1 + 2 = 3125 1 + 1 + 1 + On further calculation, we get, = 3125 × × × We get, = Rs = Rs 3617.25 Hence, Compound interest = Amount – Principal = Rs 3617. 25 – Rs 3125 = Rs 492. 25 Page 5 1. Calculate the amount and compound interest on (i) Rs 15000 for 2 years at 10% per annum compounded annually. (ii) Rs 156250 for & & 3 years at 8% per annum compounded half- yearly. (iii) Rs 100000 for 9 months at 4% per annum compounded quarterly. Solution: (i) Given Principal (P) = Rs 15000 Rate (R) = 10% p.a. Period (n) = 2 years Hence, Amount (A) = 0 1 + 2 = Rs 15000 1 + On further calculation, we get, = Rs 15000 × × We get, = Rs 18150 Therefore, Compound interest = Amount – Principal = Rs 18150 – 15000 We get, = Rs 3150 (ii) Principal (P) = Rs 156250 Rate (R) = 8% p.a. or 4% half-yearly Period (n) = 1 years = 3 half-year Therefore, Amount (A) = 0 1 + 2 = Rs 156250 1 + On further calculation, we get, = Rs 156250 × = Rs 156250 × × × We get, = Rs 175760 Hence, Compound interest = Amount – Principal = Rs 175760 – Rs 156250 = Rs 19510 2. Find the difference between the simple interest and compound interest on Rs 4800 for 2 years at 5% per annum, compound interest being reckoned annually. Solution: Given Principal (P) = Rs 4800 Rate (R) = 5% p.a. Period (n) = 2 years Therefore, S.I. = = " × × We get, = Rs 480 And when interest is compounded annually Amount (A) = 0 1 + 2 = Rs 4800 1 + = Rs 4800 × × We get, = Rs 5292 Hence, Compound interest = Amount – Principal = Rs 5292 – Rs 4800 = Rs 492 Now, Difference in compound interest and simple interest = Rs 492 – Rs 480 = Rs 12 3. Find the compound interest on Rs 3125 for 3 years if the rates of interest for the first, second and third year are respectively 4%, 5% and 6% per annum. Solution: Given Principal (P) = Rs 3125 Rate of interest for continuous 3 years = 4%, 5%, 6% Period (n) = 3 years Therefore, Amount = 0 1 + 2 = 3125 1 + 1 + 1 + On further calculation, we get, = 3125 × × × We get, = Rs = Rs 3617.25 Hence, Compound interest = Amount – Principal = Rs 3617. 25 – Rs 3125 = Rs 492. 25 4. Kamla borrowed Rs 26400 from a Bank to buy a scooter at a rate of 15% p.a. compounded yearly. What amount will she pay at the end of 2 years and 4 months to clear the loan? Solution: Given Money borrowed (P) = Rs 26400 Rate (R) = 15% p.a. Period (n) = 2 years 4 months = 2 = 2 years Therefore, Amount = 0 1 + 2 = Rs 26400 51 + 6 × )1 + × * On further calculation, we get, = Rs 26400 × × × We get, = Rs = Rs 36659.70 5. Anil borrowed Rs 18000 from Rakesh at 8% per annum simple interest for 2 years. If Anil had borrowed this sum at 8% per annum compound interest, what extra amount would he has to pay?Read More
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Apr 26, 2026 Last updated
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