Calculate the amount and compound interest on
(a) ₹ 10,800 for 3 years at 1212 % per annum compounded annually.
(b) ₹ 18,000 for 212 years at 10% per annum compounded annually.
(c) ₹ 62,500 for 112 years at 8% per annum compounded half yearly.
(d) ₹ 8,000 for 1 year at 9% per annum compounded half yearly. (You could use the year by year calculation using SI formula to verify).
(e) ₹ 10,000 for 1 year at 8% per annum compounded half yearly.
Answers
(a) Given:
P = ₹ 10,800, n = 3 years,
CI = A – P = ₹ 15,377.35 – ₹ 10,800 = ₹ 4,577.35
Hence amount = ₹ 15,377.34 and CI = ₹ 4,577.34
(b) Given: P = ₹ 18,000, n = 212 years = 52 years
R = 10% p.a.
The amount for 212 years, i.e., 2 years and 6 months can be calculated by first calculating the amount to 2 years using CI formula and then calculating the simple interest by using SI formula.
The amount for 2 years has to be calculated
Total CI = ₹ 3780 + ₹ 1089 = ₹ 4,869
Amount = P + I = ₹ 21,780 + ₹ 1,089 = ₹ 22,869
Hence, the amount = ₹ 22,869
and CI = ₹ 4,869
(c) Given: P = ₹ 62,500, n = 112 years = 32 years per annum compounded half yearly
= 32 × 2 years = 3 half years
R = 8% = 82 % = 4% half yearly
NCERT Solutions for Class 8 Maths Chapter 8 Comparing Quantities Ex 8.3 Q1.2
same as the above one