SSC (English Medium) Class 8Maharashtra State Board
Share

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

ConceptConept of Compound Interest

#### 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.
S