Compound Interest | Class 8 | Practice Set 14.1

Compound Interest | Class 8 | Practice Set 14.1

Compound Interest Class 8 Practice Set 14.1, all examples are solved here in simple manner and are attached in a pdf file.

Practice-set-14.1

In this practice set, in all the examples we are asked to find the compound interest and the total amount to be received after certain time interval.

Also read : Congruence of Triangles | Class 8 | Practice Set 13.1

The formula for calculating the total amount to be received is,

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

where, A = Total amount to be received

P = Principal

R = Rate of interest

N = Number of years

Also read : Congruence of Triangles | Class 8 | Practice Set 13.2

After writing the formula we can put the given values in it and by performing simple mathematical operations we can calculate the total amount to be received.

After finding the total amount to be received we can calculate the compound interest by using the formula given below,

Compound Interest = Total Amount – Principal

The questions answered in the attached pdf file are as follows :

1. Find the amount and the compound interest.
2. Sameer Rao has taken a loan of rupees 12500 at a rate of 12 p.c.p.a. for 3 years. If the interest is compounded annually then how many rupees should he pay to clear his loan?
3. To start a business Shalaka has taken a loan of 8000 rupees at a rate of 10. After two years how much compound interest will she have to pay ?

In this way, examples on the topic of compound interest are solved if we know the formulas and if we are aware of how to do the simple basic calculations.