CBSE Class 8CBSE
Share
Notifications

View all notifications
Books Shortlist
Your shortlist is empty

Calculate the Amount and Compound Interest On Rs 18000 for `2 1/2` Years at 10% per Annum Compounded Annually. - CBSE Class 8 - Mathematics

Login
Create free account


      Forgot password?

Question

Calculate the amount and compound interest on  Rs 18000 for `2 1/2` years at 10% per annum compounded annually.

 

Solution

Principal (P) = Rs 18,000

Rate (R) = 10% annual

Number of years (n) = `2 1/2` year

The amount for 2 years and 6 months can be calculated by first calculating the amount for 2 years using the compound interest formula, and then calculating the simple interest for 6 months on the amount obtained at the end of 2 years.

Firstly, the amount for 2 years has to be calculated.

`A = Rs[18000(1 + 1/10)^2] = Rs (18000xx11/10xx11/10)` = Rs 21780

By taking Rs 21780 as principal, the S.I. for the next `1/2` year will be calculated.

S.I = Rs `((21780 xx 1/2 xx 10)/100)` = Rs 1089

∴ Interest for the first 2 years = Rs (21780 − 18000) = Rs 3780

And interest for the next `1/2` year = Rs 1089

∴ Total C.I. = Rs 3780 + Rs 1089 = Rs 4,869

A = P + C.I. = Rs 18000 + Rs 4869 = Rs 22,869

  Is there an error in this question or solution?

APPEARS IN

 NCERT Solution for Mathematics Textbook for Class 8 (2018 to Current)
Chapter 8: Comparing Quantities
Ex.8.30 | Q: 1.2 | Page no. 133
Solution Calculate the Amount and Compound Interest On Rs 18000 for `2 1/2` Years at 10% per Annum Compounded Annually. Concept: Conept of Compound Interest.
S
View in app×