Compound Interest Class 8 Worksheet 1 with Answers
1. In how many years, ₹ 120 will produce the
same simple interest as ₹ 640 produce in 3 years at same rate of interest 31/2
% p.a.?
2.
Match the following:
a.
Principal = ₹ 1200, rate = 6%, time = 4 years, then SI = i. ₹ 24
b.
Principal = ₹ 40000, rate = 7% p.a., time = 2 years, then CI = ii. ₹ 5796
c.
Principal = ₹ 160, rate = 3% p.a., time = 5 years, then SI = iii. ₹ 702
d.
Principal = ₹ 5400, rate = 31/4 %, time = 4 years, then SI = iv. ₹ 68
e.
Principal = ₹ 3400, rate = 2%, time = 1 year, then CI = v. ₹ 288
3. A sum was lent at simple interest at a certain rate for 5 years.
Had it been 1% higher rate, it would have fetched ₹ 50 more. What is the sum?
4.
A sum of money doubles in 6 years. In how many
years, it will treble at SI?
5.
State true or false.
a.
Simple interest allows you to earn interest on interests.
b.
In simple interest, the principal remains constant for the entire loan period.
6. The difference between CI and SI on a certain sum of money for 2
years at 5% per annum is ₹ 1. What is the sum?
7. A man deposited ₹ 6000 in a bank at 8% p.a. simple interest for 4
years. For how many years must another man deposit an amount of ₹ 6400 at 6%
p.a. in another bank so that both of them get the same interest?
8. The simple interest on a certain sum of money
for 4 years at 8% per annum is half the simple interest on ₹ 4000 for 2 years
at 10% per annum. Find the sum.
9.
A sum of money lent at compound interest
annually amounts to ₹ 250 and ₹ 300 in the first and the second year. Find
the rate of interest.
10. Minakshi borrowed two loans at simple interest
i.e., one for ₹ 10,000 at 4% per annum and the other for ₹ 15000 at 6% p.a.
for the same period. If she paid ₹ 6500 as total interest, find the period for
which the loans were taken.
11. Calculate the amount due and the compound
interest on ₹ 15000 in 2 years when the rate of interest on successive years
is 7% and 9% respectively.
Compound Interest Class 8 Worksheet 2
1. At what rate of compound interest will ₹ 20000
becomes ₹ 24200 after 2 years?
2. Find the simple interest on ₹ 9520 at 8.4%
per annum for 4 years 8 months.
3. Choose the correct option.
a. The compound
interest and simple interest for the 2nd year on a sum are
i. same
ii. different
iii. depends on sum
iv. depends on rate of interest
b. Principal +
Interest = ________
i. Time
ii. Compound Interest
iii. Amount
iv. Rate of interest
c. What will be
the interest when ₹ 100 is invested for 3 months at the rate of 2.5% per
quarter?
i. ₹ 2.5
ii. ₹ 25
iii. ₹ 10
iv. ₹ 30
d. In the case of
compound interest, the principal ________ every year.
i. constant
ii. depends on rate
iii. depends on sum
iv. changes
4. Find the difference between the compound
interest and the simple interest on ₹ 6000 for 3 years at 10% per annum.
5. Find the simple interest on ₹ 13870 at 71/2
% p.a. from 15th August 2011 to 20 January 2012. Also, find the amount.
6. The difference between CI and SI for 2 years
at 10% per annum is ₹ 50. Find the sum.
7. Simple interest on a certain sum of money for
2 years at 61/2 % per annum is ₹ 5200. What will be the
compound interest on the sum at the same rate and for the same period?
8. Reena borrowed some money from a money lender
at 20% p.a. compound interest. After 3 years, she paid ₹ 582.40 as CI to the
money lender. What amount did she borrow?
9. Find the compound interest at 5% p.a. for 3
years on the same principal which gives simple interest of ₹ 2400 at the same
rate and for the same time.
10. At what time will ₹ 5400 yield ₹ 1373.76 as
compound interest at 12% p.a.?
11. Priti deposited ₹ 2,40,000 with a private
company for a period of 9 months. The company credits the interest in her
account at 3% quarterly. What interest did she get?
12. Hemant borrowed ₹ 2000 at 20% p.a. simple interest.
Find the amount of money he needs to pay after 11/2
years.
13. Meera invests ₹ 93750 at 9.6% per annum for 3
years and the interest is compounded annually, calculate:
a. the amount
outstanding to him at the end of second year.
b. the interest
for third year.
14. If the interest charged for 9 months be 0.18
times the money borrowed. Find the rate of SI per annum.
15. A sum of money lent at compound interest
yields ₹ 100 at the end of 1st year and ₹ 105 at the end of 2nd year. Find the
rate % per annum.
ANSWERS
Worksheet
1
1. 16
years
2. a.
v b. ii
c. i d. iii
e. iv
3. ₹ 1000 4. 12 years
5. a.
False b. True
6. ₹ 400 7. 5 years
8. ₹
1250 9. 20%
10. 5
years
11. ₹
17,494.50; ₹ 2494.50
Worksheet
2
1. 10% 2. ₹ 3731.84
3. a.
ii b. iii
c. i d. iv
4. ₹
186 5. ₹ 404.70
6. ₹
5000 7. ₹ 5369
8. ₹
800 9. ₹ 2522
10. 2 years
11. ₹ 22,254.48
12. ₹ 2600
13. a. ₹ 1,12,614
b. ₹ 10,810.94
14. 24%
15. 5%
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