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Find the Amount and the Compound Interest. - SSC (English Medium) Class 8 - Mathematics

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Question

Find the amount and the compound interest.

No. Principal (₹) Rate (p.c.p.a.) Duration
(Years)
1 2000 5 2
2 5000 8 3
3 4000 7.5 2

Solution

(1) Here, P = ₹ 2000; R = 5 % ; N = 2 years

A = P `( 1 + "R"/100)^"N"`

    = 2000 `(1 + 5/100)² `

    = 2000 `(21/20)²`

    = 2205 Rupees

Compound interest after 2 years,

I = Amount - Principal

 = 2205 - 2000 

= 205 Rupees

Hence, Amount =  ₹ 2205 and compound interest =  ₹205.

(2) Here, P = ₹ 5000; R = 8 % ; N = 3 years

A = P `( 1 + "R"/100)^"N"`

    = 5000 `(1 + 8/100)³`

    = 5000 `(108/100)²`

    = 5000 `(27/25)³`

    = 6298.56 Rupees

Compound interest after 3 years,

I = Amount - Principal

 = 6298.56- 5000

= 1298.56 Rupees

Hence, Amount =  ₹ 6298.56 and compound interest =  ₹1298.56.

(3) Here, P = ₹ 4000; R = 7.5 % ; N = 2 years

A = P `( 1 + "R"/100)^"N"`

    = 4000 `(1 + 7.5/100)²`

    = 4000 `(1 +75/1000)²`

    = 4000 `(1000/1075)²`

    = 4000 `(43/40)²`

    = 4622.50 Rupees

Compound interest after 2 years,

I = Amount - Principal

 = 4622.50 - 4000

= 622.50 Rupees

Hence, Amount =  ₹ 4622.50 and compound interest =  ₹ 622.50.

  Is there an error in this question or solution?

APPEARS IN

 Balbharati Solution for Balbharati Class 8 Mathematics (2019 to Current)
Chapter 14: Compound interest
Practice Set 14.1 | Q: 1 | Page no. 90
Solution Find the Amount and the Compound Interest. Concept: Conept of Compound Interest.
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