Compound Interest Using Formula Concise ICSE Class-9th

Chapter/ Lesson / Exercise -3 Compound Interest (Using Formula) Selina Mathematics Solutions

Compound Interest Using Formula Concise ICSE Class-9th Mathematics Selina solutions Chapter-3 . We provide step by step Solutions of Exercise / lesson-3 Compound Interest (Using Formula)   for ICSE Class-9 Concise Selina Mathematics by RK Bansal.

Our Solutions contain all type Questions with Exe-3 A, Exe-3 B, Exe-3 C, Exe-3 D and Exe-3 E to develop skill and confidence. Visit official Website CISCE for detail information about ICSE Board Class-9 Mathematics .

Compound Interest Using Formula Concise ICSE Class-9th Mathematics Selina solutions Chapter-3


–: Select Topics :–

Concept Part-1

Concept Part-2

Exe-3 A,

Exe-3 B,

Exe-3 C,

Exe-3 D,

Exe-3 E,

 


Exercise – 3(A) Compound Interest (Using Formula) Concise Selina Mathematics ICSE Class-9th 

Question 1

Find the amount and the compound interest on Rs. 12,000 in 3 years at 5% compounded annually.

Answer

Given : P= Rs. 12,000; n = 3 years and r = 5%

Ans 1 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

= Rs. 13,891.50

C.I. = Rs. 13,891.50 – Rs. 12,000 = Rs. 1,891.50.

Question 2

Calculate the amount of Rs. 15,000 is lent at compound interest for 2 years and the rates for the successive years are 8% and 10% respectively.

Answer

Given : P = Rs. 15,000; n = 2 years;  r1 = 8 % and r2 = 10%

Ans 2 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

              = Rs. 17,820.

Answer 

Given : P = Rs. 6,000; n = 3 years; r= 5%; r= 8% and r3 = 10%

Ans 3 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

= Rs. 7,484.40
∴ C.I. = Rs. 7,484.40 – Rs. 6,000 = Rs. 1,484.40.

Answer 

Given : P= Rs. 5,445 ; n = 2 years and r = 10%

Ans 4 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

⇒ Rs. 4,500

Answer 

Given : C.I.= Rs. 768.75; n= 2 years and r = 5%

Ans 5 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

Answer 

Given : C.I. = Rs. 1,655; n = 3 years and r = 10%

Ans 6 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

Answer 

Given : A = Rs. 9,856 ; n = 2 years ;  r1 = 10 % and r2 = 12%

Ans 7 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

Question 8

Answer 

Ans 8 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

⇒ ( P + 4240 ) = P(1.265)

⇒ P = Rs. 16000

The sum is Rs.16,000.

Answer 

Ans 9 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

At 5% per annum the sum of Rs. 6,000 amounts to Rs. 6,615 in 2 years when the interest is compounded annually.

Answer 

Let Principal = Rs. y
Then Amount= Rs 1.44y
n= 2 years

Ans 10 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

On solving, we get
r = 20 %

Answer 

Given : P = Rs. 4,000, C.I. = Rs. 1,324 and n = 3 years
Now, A = P + I
⇒ A = Rs. ( 4,000 + 1,324 ) = Rs. 5,324

Ans 11 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

Thus, the rate of interest is 10%.

Answer 

Given: P = Rs. 5,000; A = Rs. 6,272 and n = 2 years.

Ans 12 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

= Rs. 7,024.64

Answer 

Given : P = Rs. 7,000; A = Rs. 9,317 and r = 10%.

Ans 13 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

On comparing,
n = 3 years

Answer 

Given : P= Rs. 4,000; C.I.= Rs. 630.50 and r = 5%

Ans 14 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

On comparing,

n = 3 years

Answer  

Let share of A = Rs. y
share of B = Rs (28,730 – y)
rate of interest= 10%

According to question,
Amount of A in 3 years= Amount of B in 5 years

Ans 15 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

Therefore share of A = Rs. 15,730

Share of B = Rs. 28,730 – Rs.15,730 = Rs. 13,000

Answer 

(i) Let share of John = Rs y
share of Smith = Rs (44,200 – y)
rate of interest= 10%

According to question,
Amount of John in 4 years = Amount of Smith in 2 years

Ans 16 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

= Rs. 29,282

Answer 

(i) I = Rs. 6,000, T = 2 years and R = 10%

Ans 17 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

= Rs. 39,930

(iii) C.I. earned in 3 years = A – P = Rs. (39,930 – 30,000) = Rs. 930.

Question 18

Find the difference between compound interest and simple interest on Rs. 8,000 in 2 years and at 5% per annum.

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