P=15000, R=8%, T=4 years find compound interest annually
Answers
Answer:
Mathematics Solutions Solutions for Class 8 Math Chapter 15 Compound Interest are provided here with simple step-by-step explanations. These solutions for Compound Interest are extremely popular among Class 8 students for Math Compound Interest Solutions come handy for quickly completing your homework and preparing for exams. All questions and answers from the Mathematics Solutions Book of Class 8 Math Chapter 15 are provided here for you for free. You will also love the ad-free experience on Meritnation’s Mathematics Solutions Solutions. All Mathematics Solutions Solutions for class Class 8 Math are prepared by experts and are 100% accurate.
Page No 90:
Question 1:
Find the amount and the compound interest.
No. Principal (₹) Rate (p.c.p.a.) Duration
(Years)
1 2000 5 2
2 5000 8 3
3 4000 7.5 2
ANSWER:
(1) Here, P = ₹ 2000; R = 5 % ; N = 2 years
A=P(1+R100)N =2000(1+5100)2 =2000(105100)2 =2000(2120)2 =2205 Rupees∴ Compound Interest after 2 years,I = Amount − Principal =2205−2000 =205 RupeesA=P1+R100N =20001+51002 =20001051002 =200021202 =2205 Rupees∴ Compound Interest after 2 years,I = Amount - Principal =2205-2000 =205 Rupees
Hence, Amount = ₹ 2205 and Compound interest = ₹ 205.
Answer:
5407.3344
Step-by-step explanation:
{P(1+r/100)(1+r/100)(1+r/100)(1+r/100)} -15000
={15000(1+8/100)(1+8/100)(1+8/100)(1+8/100)} -15000
={20407.3344 - 15000}
=5407.3344