Ask a Doubt
Request a call back

Join NOW to get access to exclusive study material for best results

ICSE Class 8 Answered

pl explain the simple & compound  with exmple   thank you
Asked by sannp_2009 | 02 Dec, 2018, 08:37: PM
answered-by-expert Expert Answer
If we invest an amount of Rs. P for n yeras and at r% per annum at simple rate of interest then simple interest is calculated as Pnr/100.
For example,
P = Rs. 1000, r = 10% per annum, n = 2 yares then simple interest will be
Simple interest = 1000 × 10 × 2/100 = Rs. 200
 
If we invest an amount of Rs. P for n years and at r% per annum compounded annually then compound interest is calculated as          P(1 + r/100)n - P where 
A = P(1 + r/100)n
For example,
P = Rs. 1000, r = 10% per annum compounded annually for n = 2 years then amount we will get
A = 1000(1 + 10/100)2 = 1000(1 + 0.1)2 = 1000 × 1.12 = Rs. 1210
Compound interest = A - P = 1210 - 1000 = Rs. 210
 
From the above example we conclude that we get more interest if rate is compounded annually rather than on simple interest.
Answered by Sneha shidid | 03 Dec, 2018, 09:50: AM

Concept Videos

Multiple Choice Questions Practice Test
Answered Unanswered My Questions My Answers
ICSE 8 - Maths
solve this sum step vice
question image
Asked by poorvagarud | 26 Jan, 2024, 10:16: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 8 - Maths
A certain sum of money doubles itself in 6 years 8 months find the rate of interest
Asked by singharan52 | 05 Sep, 2023, 01:42: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 8 - Maths
A man invests Rs, 9600 at 10% per annum commpound interest for three years. Calculate  (i) the interest for the first year (ii) the amount at the end of the first year (iii)the interest for the  second year (iii) the interest for the third year
Asked by n.tara345 | 08 Aug, 2023, 12:04: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 8 - Maths
calculate the compound interest for the second year on Rs.15000 invested for 5 years at 6% per annum
Asked by n.tara345 | 08 Aug, 2023, 12:00: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 8 - Maths
calculate the compound interest on Rs.15000 in 3 years; if the rates of interest for successive years are 6%, 8% and 10 % respectively
Asked by n.tara345 | 07 Aug, 2023, 11:58: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 8 - Maths
Find the amount and the compound interest on: a) ₹300 at 3% per annum for 2 years  b) ₹4000 at 2% per annum for 3 years c) ₹5000 at 5% per annum for 3 years d) ₹10000 at 4% per annum for 2 years  
Asked by jrohinig | 30 Dec, 2021, 11:29: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 8 - Maths
the simple interest on a certain sum of money at 4% p.a. for 2 years is 500 what will be the compound interest on the same sum for the same time
Asked by rajeshwarkokkonda1 | 06 Oct, 2020, 11:21: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 8 - Maths
please tell the solution for it
question image
Asked by abhinavsingh22dec2007 | 23 Jul, 2020, 09:28: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 8 - Maths
find the amount which which Ram will get on 4096 rupees if he gave it for 18 months at 12 1.2 per annum interest being compounded half yearly interest being compounded half yearly
Asked by shivrajsinghchouhan39717 | 17 Feb, 2020, 07:56: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 8 - Maths
At what per cent per annum will ₹4000 amount to ₹ 4410 in 2 years when Compounded annually? 
Asked by Cl_narayan | 29 Dec, 2019, 08:12: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
My Class Videos Tests ₹ Plans Ask a Doubt
Get Latest Study Material for Academic year 24-25 Click here
×