ML Aggarwal Simple and Compound Interest Exe-8.2 Class 8 ICSE Ch-8 Maths Solutions. We Provide Step by Step Answer of Exe-8.2 Questions for Simple and Compound Interest as council prescribe guideline for upcoming board exam. Visit official Website CISCE for detail information about ICSE Board Class-8.
ML Aggarwal Simple and Compound Interest Exe-8.2 Class 8 ICSE Maths Solutions
| Board | ICSE |
| Publications | Avichal Publishig Company (APC) |
| Subject | Maths |
| Class | 8th |
| Chapter-8 | Simple and Compound Interest |
| Writer | ML Aggarwal |
| Book Name | Understanding |
| Topics | Solution of Exe-8.2 Questions |
| Edition | 2023-2024 |
Simple and Compound Interest Exe-8.2
ML Aggarwal Class 8 ICSE Maths Solutions
Page-140
Question 1. Calculate the compound interest on 6000 at 10% per for two Years.
Answer:
Rate of interest = 10% per annum
Principal for the first year = Rs 6000
Interest for the first year = Rs (6000 × 10 × 1) / 100
= Rs 600
Amount at the end of first year = Rs 6000 + Rs 600
= Rs 6600
Principal for the second year = Rs 6600
Interest for the second year = Rs (6600 × 10 × 1) / 100
= Rs 660
Amount for the second year = Rs 6600 + Rs 660
= Rs 7260
Hence, compound interest for 2 years = final amount – (original) Principal
= Rs 7260 – Rs 6000
We get,
= Rs 1260
Question 2. Salma borrowed from Mahila Samiti a sum of ₹ 1875 to purchase a sewing machine. If the rate of interest is 4% per annum, what is the compound interest that she has to pay after 2 years?
Answer:
Principal for the first year = Rs. 1875
Rate of Interest = 4% p.a
Interest for the first year = Rs (1875 × 4 × 1) / 100
Amount at the end of first year =Rs. 1875+ Rs 75=Rs. 1950
Principal for the second year= Rs.1950
interest for the second year =Rs (1950 × 4 × 1) / 100
Amount at the end of first year =Rs.1950+ Rs .78=Rs. 2028
Therefore compound interest paid by salma = Final amount -(original) Principal
=Rs. 2028_ Rs. 1875
= Rs. 153
Question 3. Jacob invests ₹12000 for 3 years at 10% per annum. Calculate the amount and the compound interest that Jacob will get after 3 years.
Answer:
Principal for the first year = Rs 12000
Rate of interest = 10% p.a.
Interest for the first year = Rs (12000 × 10 × 1) / 100
= Rs 1200
Amount at the end of first year = Rs 12000 + Rs 1200
= 13200
Principal for the second year = Rs 13200
Interest for the second year = Rs (13200 × 10 × 1) / 100
= Rs 1320
Amount at the end of second year = Rs 13200 + Rs 1320
= Rs 14520
Principal for the third year = Rs 14520
Interest for the third year = Rs (14520 × 10 × 1) / 100
= Rs 1452
Amount at the end of third year = Rs 14520 + Rs 1452
= Rs 15972
Compound interest for 3 year = Final amount – (original) Principal
= Rs 15972 – Rs 12000
= Rs 3972
Question 4. A man invests ₹46875 at 4% per annum compound interest for 3 years. Calculate:
(i) the interest for the first year.
(ii) the amount standing to his credit at the end of second year.
(iii) the interest for the third year.
Answer:
(i) Principal for the first year = Rs 46875
Rate of interest = 4% per annum
Interest for the first year = Rs (46875 × 4 × 1) / 100
= Rs 46875 / 25
= Rs 1875
Therefore, interest for the first year is Rs 1875
(ii) Amount at the end of first year
= Rs 46875 + Rs 1875
= Rs 48750
Principal for the second year = Rs 48750
Interest for the second year = Rs (48750 × 4 × 1) / 100
= Rs 48750 / 25
= Rs 1950
Amount at the end of second year = Rs 48750 + Rs 1950
= Rs 50700
Therefore, the amount at the end of second year is Rs 50700
(iii) Principal for the third year = Rs 50700
Interest for the third year = Rs (50700 × 4 × 1) / 100
We get,
= Rs 507 × 4
= Rs 2028
Therefore, the interest for the third year is Rs 2028
Question 5. Calculate the compound interest for the second year on ₹6000 invested for 3 years at 10% p.a. Also find the sum due at the end of third year.
Answer:
Principal for the first year = Rs 6000
Rate of interest = 10% p.a.
Interest for the first year = Rs (6000 × 10 × 1) / 100
= Rs 600
Amount at the end of first year = Rs 6000 + Rs 600
= Rs 6600
Principal for the second year = Rs 6600
Interest for the second year = Rs (6600 × 10 × 1) / 100
= Rs 660
Amount at the end of second year = Rs 6600 + Rs 660
= Rs 7260
Compound interest for the second year = Final amount – (original) Principal
= Rs 7260 – Rs 6000
= Rs 1260
Principal for the third year = Rs 7260
Interest for the third year = Rs (7260 × 10 × 1) / 100
= Rs 726
Amount at the end of third year = Rs 7260 + Rs 726
= Rs 7986
Question 6. Calculate the amount and the compound interest on ₹5000 in 2 years when the rate of interest for successive years is 6% and 8% respectively.
Answer:
Principal for the first year = Rs 5000
Rate of interest = 6% p.a.
Interest for the first year = Rs (5000 × 6 × 1) / 100
= Rs 50 × 6
= Rs 300
Amount at the end of first year = Rs 5000 + Rs 300
= Rs 5300
Principal for the second year = Rs 5300
Rate of interest = 8% p.a.
Interest for the second year = Rs (5300 × 8 × 1) / 100
= Rs 53 × 8
We get,
= Rs 424
Amount for the second year = Rs 5300 + Rs 424
= Rs 5724
Compound interest for two years = Final amount – (original) Principal
= Rs 5724 – Rs 5000
= Rs 724
Question 7. Calculate the difference between the compound interest and the simple interest on ₹20000 in 2 years at 8% per annum
Answer:
Principal (P) = Rs 20000
Rate (R) = 8% p.a.
Period (T) = 2 years
Simple interest (S.I.) = PRT / 100
= Rs (20000 × 8 × 2) / 100
= Rs 3200
Amount on compound interest
A = P {1 + (R / 100)}n
= RS 20000 {1 + (8 / 100)}2
= Rs 20000 × (27 / 25) × (27 / 25)
= Rs 32 × 729
= Rs 23328
Compound interest = Final amount – (original) Principal
= Rs 23328 – Rs 20000
We get,
= Rs 3328
Difference in compound interest – simple interest
= Rs 3328 – Rs 3200
= Rs 128
— : End of ML Aggarwal Simple and Compound Interest Exe-8.2 Class 8 ICSE Maths Solutions :–
Return to – ML Aggarwal Maths Solutions for ICSE Class -8
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