Maths Questions on Compound Interest
Maths Questions Answers
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Class - VIII - Maths:- INDEX
1. Squares & Square Roots2. Cubes & Cube Roots
3. Exponents & Radicals
4. Profit Loss & Discount
5. Compound Interest
6. Algebraic Identities
7. Polynomials
8. Linear Equations
9. Parallel Lines
10. Types of Quadrilaterals
11. Construction of Quadrilaterals
12. Circles
13. Areas
14. Surface Areas
15. Volumes
16. Statistics
Class - VIII - Maths
Important Tips (1) Be careful to read during the exam regarding the formula of simple interest or compound interest.
(2) If the interest rate is doubled / tripled, then the simple interest rate will get doubled / tripled. In case of compound interest the increase will be more than the increase of rate of interest
Question - Type 2 - What is the loss in interest if Rs 20000 deposited for 3 years at interest rate of 10% per annum and simple interest is calculated in place of compound interest.
Answer - 2- Simple Interest = 20000 * 3 * 10 /100
20000 * .3 = Rs 6000
Compound Interest = 20000 *((1+10/100)^3-1)
= 20000 * ((1.1)^3-1)) = 20000 (.331) = Rs 6620
Therefore loss = C.I. - S.I.
= 6620 - 6000 = Rs 620
Question - Type 3 - If the interest rate in the previous questions is doubled. Will interest will be doubled in both the cases i.e. simple and compound interest.
Answer - 3- YES & NO - In case of simple interest the interest amount will be doubled. But in the case of compound interest, it will be more than double. (refer next question on next page.)
(Cont..... to page 3 )
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What is Compound Interest Formula (Page 2/3)
(Contiued from page 1 )Important Tips (1) Be careful to read during the exam regarding the formula of simple interest or compound interest.
(2) If the interest rate is doubled / tripled, then the simple interest rate will get doubled / tripled. In case of compound interest the increase will be more than the increase of rate of interest
Question - Type 2 - What is the loss in interest if Rs 20000 deposited for 3 years at interest rate of 10% per annum and simple interest is calculated in place of compound interest.
Answer - 2- Simple Interest = 20000 * 3 * 10 /100
20000 * .3 = Rs 6000
Compound Interest = 20000 *((1+10/100)^3-1)
= 20000 * ((1.1)^3-1)) = 20000 (.331) = Rs 6620
Therefore loss = C.I. - S.I.
= 6620 - 6000 = Rs 620
Question - Type 3 - If the interest rate in the previous questions is doubled. Will interest will be doubled in both the cases i.e. simple and compound interest.
Answer - 3- YES & NO - In case of simple interest the interest amount will be doubled. But in the case of compound interest, it will be more than double. (refer next question on next page.)
(Cont..... to page 3 )
© funandhobby.com ( What is Compound Interest Formula)