Compound Interest Class 8 RS Aggarwal Exe-8B Goyal Brothers ICSE Maths Solutions Ch-8. We provide step by step Solutions of council prescribe textbook / publication to develop skill and confidence. Visit official Website **CISCE** for detail information about ICSE Board Class-8 Mathematics.

## Compound Interest Class 8 RS Aggarwal Exe-8B Goyal Brothers ICSE Maths Solutions Ch-8

Board | ICSE |

Publications | Goyal Brothers Prakashan |

Subject | Maths |

Class | 8th |

writer | RS Aggarwal |

Book Name | Foundation |

Ch-8 | Simple Interest and Compound Interest |

Exe-8A | Problems on Compound Interest |

Academic Session | 2024-2025 |

### How to Solve Problems on Compound Interest

The formula we use to find compound interest is A = P(1 + r/100)^t. In this formula, A stands for the total amount that accumulates. P is the original principal; that’s the money we start with. The r is the interest rate while t is for time.

**Exercise- 8B**

**Que-1: Find the amount and the compound interest on Rs5000 for 2 years at 8% per annum, compounded annually.**

**Sol: **Principal (P) = Rs. 5000

Rate (R) = 8% p.a.

Period (n) = 2 years

Amount (A) = P (1+(R/100))^n

= Rs. 5000(1+(8/100))²

= Rs.5000×(27/25)×(27/25)

= Rs.5832∴

C.I. = A – P

= Rs. 5832 – 5000

= Rs. 832

**Que-2: Find the amount and the compound interest on Rs8000 for 2 years at 6% per annum, compounded annually.**

**Sol: **Principal (P) = Rs. 8000

Rate (R) = 6% p.a.

Period (n) = 2 years

Amount (A) = P (1+(R/100))^n

= Rs. 8000(1+(6/100))²

= Rs.8000×(106/100)×(106/100)

= Rs.8988.80

∴ C.I. = A – P

= Rs. 8988.80 – 8000

= Rs. 988.80

**Que-3: Find the amount and the compound interest on Rs2500 for 2 years, compounded annually, the rate of interest being 6% during the first year and 8% during the second year.**

**Sol: **P for first year = 2500

Rate of first year = 6%

time = 1 year

I = PRT/100

I = (2500*6*1)/100

I = 150

Amount at the end of first year = 2500 + 150 = 2650

P for second year = 2650

Time = 1 year

Rate for second year = 8%

I = PRT/100

I = (2650*8*1)/100

I = 212

Amount = 2650 + 212 = 2862

C.I. = A – P

= 2862 – 2500

= 362.

**Que-4: Find the amount and the compound interest on Rs25000 for 3 years at 6% per annum, compounded annually.**

**Sol: **Given, Principal =Rs. 25,000

Time = 3 years

Rate = 6%

Amount compounded annually = 25000(1+(6/100))³

= 25,000×(106/100)×(106/100)×(106/100)

=29,775.4

Compound interest = Rs. 29,775.4 − Rs. 25,000

= Rs. 4775.4.

**Que-5: Find the amount and the compound interest on Rs10000 for 3 years at 10% per annum, compounded annually.**

**Sol: **Principal (P) = Rs. 10000

Rate (R) = 10% p.a.

Period (n) = 3 years

∴ Amount = P (1+(R/100))^n

= Rs. 10000 (1+(10/100))³

= Rs.10000×(11/10)×(11/10)×(11/10)

= Rs.13310

C.I. = A – P

= Rs. 13310 – 10000

= Rs. 3310

**Que-6: Karim took a loan of Rs25000 from Corporation Bank at 12% per annum, compounded annually. How much amount, he will have to pay at the end of 3 years.**

**Sol: **Principal = ₹25000

rate= 12%

time= 3years

Amount = P× ( 1+ r/100)^n

Amount = 25000 × ( 1+ 12/100)^3

Amount = 25000 × 28/25 × 28/25× 28/25

Amount = 175616/5

Amount = 35123.20

**Que-7: Manoj deposited Rs15625 in a bank at 8% per annum, compounded annually. How much amount will he get after 3 years ?**

**Sol: **P = 15625 rs

R = 8%

T = 3yrs

A = p ( 1+r/100)^t

= 15625( 1+8/100)³

15625( 1+2/25)³

15625( 27/25)³

15625*27/25*27/25*27/25

These all 25 are cancelled with 15625…

Remaining will be multiplied

27*27*27 = 19683

**Que-8: A person lent out Rs16000 on simple interest and the same on the compound interest for 2 years at 12*(1/2)% per annum. Find the ratio of the amounts received by him as interest after 2 years.**

**Sol: **From above solution,

simple interest = Rs 4000

compound interest

= Amount – principle

= 20250-16000

= 4250 Rs

Ratio of interest = 4000/4250

=16/17

–: Compound Interest Class 8 RS Aggarwal Exe-8B Goyal Brothers ICSE Maths Ch-8 :–

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