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Toggle## Class 8, Maths, Chapter 8, Exercise 8.3, Solutions

**Q.1. Calculate the amount and compound interest on**

**(a) ****₹ ****10,800 for 3 years at **** $12\frac{1}{2}%$ ****per annum compounded annually.**

**(b) ****₹ ****18,000 for **** $12\frac{1}{2}$ ****years at 10% per annum compounded annually.**

**(c) ****₹ ****62,500 for **** $1\frac{1}{2}$****years at 8% per annum compounded half yearly.**

**(d)**** ₹ ****8,000 for 1 year at 9% per annum compounded half yearly.**

**(You could use the year by year calculation using SI formula to verify).**

**(e) ****₹**** 10,000 for 1 year at 8% per annum compounded half yearly.**

**Q.2. Kamala borrowed ****₹ ****26,400 from a Bank to buy a scooter at a rate of 15% p.a. compounded yearly. What amount will she pay at the end of 2 years and 4 months to ****clear the loan?**

**Q.3. Fabina borrows ****₹**** 12,500 ****at 12% per annum for 3 years at simple interest and Radha borrows the same amount for the same time period at 10% per annum, compounded annually. Who pays more interest and by how much?**

**Q.4. ****I borrowed ****₹**** 12,000 ****from Jamshed at 6% per annum simple interest for 2 years. Had I borrowed this sum at 6% per annum compound interest, what extra amount would I have to pay?**

**Q.5. Vasudevan invested ****₹**** 60,000 at an interest rate of 12% per annum compounded half yearly. What amount would he get**

**(i) After 6 months?**

**(ii) After 1 year?**

**Q.6. Arif took a loan of ****₹**** 80,****000 from a bank. If the rate of interest is 10% per annum, find the difference in amounts he would be paying after **** $1\frac{1}{2}$**** years if the interest is **

**(i) Compounded annually.**

**(ii) Compounded half yearly.**

**Q.7. Maria invested ****₹**** 8,000 in a business. She would be paid interest at 5% per annum compounded annually. Find**

**(i) The amount credited against her name at the end of the second year.**

**(ii) The interest for the 3 ^{rd} year.**

**Q.8. Find the amount and the compound interest on ****₹**** 10,000 for $1\frac{1}{2}$ years at 10% per annum, compounded half yearly. Would this interest be more than the interest he would get if it was compounded annually?**

**Q.9. Find the amount which Ram will get on ****₹**** 4096, if he gave it for 18 months at ** $12\frac{1}{2}%$**per annum, interest being compounded half yearly.**

**Q.10. The population of a place increased to 54,000 in 2003 at a rate of 5% per annum**

**(i) Find the population in 2001.**

**(ii) What would be its population in 2005?**

**Q.11. In a Laboratory, the count of bacteria in a certain experiment was increasing at the rate of 2.5% per hour. Find the bacteria at the end of 2 hours if the count was initially 5,06,000.**

**Q.12. A scooter was bought at ₹ 42,000. Its value depreciated at the rate of 8% per annum. Find its value after one year.**