Compound Interest Class 8 Worksheets

Compound Interest Class 8 Worksheets

Let us solve these Compound Interest Class 8 Worksheets.

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.

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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