Question

find the amount and compound interest on Rupees 62500 at 8% per annum for 6 months interest being compounded quarterly

Answer 1





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Home » NCERT Solutions » NCERT Solutions for Class 8 Maths Exercise 8.3

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NCERT Solutions for Class 8 Maths Exercise 8.3

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NCERT Solutions for Class 8 Maths Exercise 8.3 Class 8 Maths book solutions are available in PDF format for free download. These ncert book chapter wise questions and answers are very helpful for CBSE exam. CBSE recommends NCERT books and most of the questions in CBSE exam are asked from NCERT text books. Class 8 Maths chapter wise NCERT solution for Maths Book all the chapters can be downloaded from our website and myCBSEguide mobile app for free.
NCERT solutions for Class 8 Maths Comparing Quantities Download as PDF


NCERT Solutions for Class 8 Maths Comparing Quantities

Class –VIII Mathematics (Ex. 8.3)

NCERT SOLUTION

1. Calculate the amount and compound interest on:

(a) Rs.10,800 for 3 years at  per annum compounded annually.
(b) Rs.18,000 for  years at 10% per annum compounded annually.

(c) Rs.62,500 for  years at 8% per annum compounded annually.
(d) Rs.8,000 for  years at 9% per annum compounded half yearly. (You could the year by year calculation using S.I. formula to verify).
(e) Rs.10,000 for  years at 8% per annum compounded half yearly.
Ans. (a) Here, Principal (P) = Rs. 10800, Time  = 3 years,
Rate of interest (R) = 
Amount (A) = 
=  = 
=  = 
= 
= Rs. 15,377.34
Compound Interest (C.I.) = A – P
= Rs. 10800 – Rs. 15377.34 = Rs. 4,577.34

(b) Here, Principal (P) = Rs. 18,000, Time  =   years, Rate of interest (R)

= 10% p.a.
Amount (A) = 
=  = 
=  = 
= Rs. 21,780
Interest for  years on Rs. 21,780 at rate of 10% =  = Rs. 1,089
Total amount for  years
= Rs. 21,780 + Rs. 1089 = Rs. 22,869
Compound Interest (C.I.) = A – P
= Rs. 22869 – Rs. 18000 = Rs. 4,869

(c) Here, Principal (P) = Rs. 62500, Time  = =  years = 3 years (compounded half yearly)

Rate of interest (R) = 8% = 4% (compounded half yearly)
Amount (A) = 
= 
= 
= 
= 
= Rs. 70,304
Compound Interest (C.I.) = A – P
= Rs. 70304 – Rs. 62500 = Rs. 7,804

Answer 2

Interest is compounded quarterly so, 8/400 = 1/50

Amount = P ( 1 + r/100) ^t

= 62500 ( 1 + 1/50) ^ 2

= 62500 * 51/50 * 51/50

= 2500 * 51 * 51

= 65025

Amount = 65025

CI = 65025 - 62500 = 2525