Calculate the amount and compound interest on ₹ 62 ,500 for 1 1 2 years at 8 % per annum compounded half-yearly.

Given, Principal amount ( P ) = ₹ 62500 Rate of interest ( R ) = 8 % Time ( T ) = 1 1 2 years There will be 3 half years in given 1 1 2 years. i.e. 3 2 years = 1 2 × 3 years = 3 half years We know that, A = P 1 + R 100 n ⇒ A = ₹ 62500 1 + 4 100 3 ⇒ A = ₹ 62500 × 26 25 × 26 25 × 26 25 ⇒ A = ₹ 70 , 304 Now, we know Amount = Principle + Compound interest then, Compound interest = Amount in 3 half years - Principle amount = ₹ 70304 - 62500 = ₹ 7 ,804 . Hence, the amount in 3 2 years is ₹ 70 , 304 and its compound interest is ₹ 7 , 804 .

Calculate the amount and compound interest on ₹ 62 ,500 for 1 1 2 years at 8 % per annum compounded half-yearly.

Given, Principal amount ( P ) = ₹ 62500 Rate of interest ( R ) = 8 % Time ( T ) = 1 1 2 years There will be 3 half years in given 1 1 2 years. i.e. 3 2 years = 1 2 × 3 years = 3 half years We know that, A = P 1 + R 100 n ⇒ A = ₹ 62500 1 + 4 100 3 ⇒ A = ₹ 62500 × 26 25 × 26 25 × 26 25 ⇒ A = ₹ 70 , 304 Now, we know Amount = Principle + Compound interest then, Compound interest = Amount in 3 half years - Principle amount = ₹ 70304 - 62500 = ₹ 7 ,804 . Hence, the amount in 3 2 years is ₹ 70 , 304 and its compound interest is ₹ 7 , 804 .

E M B I B E

MATHEMATICS Textbook for Class VIII>Chapter 8 - Comparing Quantities>EXERCISE>Q 1

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IMPORTANT

Earn 100

Calculate the amount and compound interest on
$₹ 62,500$ for 1 $\frac{1}{2}$ years at $8 %$ per annum compounded half-yearly.

Important Questions on Comparing Quantities

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IMPORTANT

MATHEMATICS Textbook for Class VIII>Chapter 8 - Comparing Quantities>EXERCISE>Q 1

Calculate the amount and compound interest on

Amount = Principle + Compound interest

for

1

year at

9 %

per annum compounded half-yearly.
(You could use the year by year calculation using

SI

formula to verify).

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IMPORTANT

MATHEMATICS Textbook for Class VIII>Chapter 8 - Comparing Quantities>EXERCISE>Q 1

If the amount on $₹ 10,000$ for $1$ year at $8 %$ per annum compounded half-yearly is $₹ k$ , then write the value of $k$ .

HARD

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IMPORTANT

MATHEMATICS Textbook for Class VIII>Chapter 8 - Comparing Quantities>EXERCISE>Q 2

Kamala borrowed

₹ 26,400

from a Bank to buy a scooter at a rate of

15 %

p.a. compounded yearly. If she will pay at the end of

2

years and

4

months to clear the loan is

₹ k

, then find the value of

k

.

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IMPORTANT

MATHEMATICS Textbook for Class VIII>Chapter 8 - Comparing Quantities>EXERCISE>Q 3

Fabina borrows

₹ 12,500

at

12 %

per annum for

3

years at simple interest and Radha borrows the same amount for the same time period at

10 %

per annum, compounded annually. If Fabina will have to pay

₹ k

more than Radha, then find the value of

k

.

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IMPORTANT

MATHEMATICS Textbook for Class VIII>Chapter 8 - Comparing Quantities>EXERCISE>Q 4

I borrowed

₹ 12,000

from Jamshed at

6 %

per annum simple interest for

2

years. When I borrowed this sum at

6 %

per annum compound interest, I have to paid the extra amount is

₹ k

. Find the value of

k

.

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IMPORTANT

MATHEMATICS Textbook for Class VIII>Chapter 8 - Comparing Quantities>EXERCISE>Q 5

Vasudevan invested ₹

60,000

at an interest rate of

12 %

per annum compounded half-yearly. If he gets

₹ y

after

6

months, write the value of

y

.

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IMPORTANT

MATHEMATICS Textbook for Class VIII>Chapter 8 - Comparing Quantities>EXERCISE>Q 5

Vasudevan invested

₹ 60,000

at an interest rate of

12 %

per annum compounded half-yearly. What amount would he get after

1

year?

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MATHEMATICS Textbook for Class VIII>Chapter 8 - Comparing Quantities>EXERCISE>Q 6

Arif took a loan of $₹ 80,000$ from a bank. If the rate of interest is $10 %$ per annum, find the difference in amounts he would be paying after $1 \frac{1}{2}$ years if the interest is compounded annually?