Subject Experts Solutions for Chapter: Comparing Quantities, Exercise 3: Worksheet 3

Simple Interest (SI) $=\frac{\_\_\_\_\_}{100}$

If the interest is compounded half-yearly, then rate will be _____ of the annual rate. (half / one-fourth)

If the interest is compounded quarterly, then there will be _____  conversion periods in a year. (two / four)

If interest is compounded quarterly, then rate will be _____ of the annual rate. (One-fourth / One-third/ Half / Three-fourth).

To calculate the growth of a bacteria if the rate of growth is known, then the formula for calculation of amount in compound interest can be used.

Compound interest is the interest calculated on the previous year's amount ?

Simple interest on a given amount is always less than or equal to the compound interest on the same amount for the same time period and at the same rate of interest per annum.

The compound interest on a sum of $₹\mathrm{P}$ for $\mathrm{n}\frac{1}{\mathrm{m}} \mathrm{yr}$ at $\mathrm{R}\%$ per annum compounded annually is given by the formula $\mathrm{P}{\left(1+\frac{\mathrm{R}}{100}\right)}^{\mathrm{n}}\left(1+\frac{{\displaystyle \frac{\mathrm{r}}{\mathrm{m}}}}{100}\right)$.