Compound Interest Class 8 Worksheets

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Compound Interest Class 8 Worksheet 1

1. In how many years, Rs 120 will produce the same simple interest as Rs 640 produce in 3 years at same rate of interest 3¹/₂ % p.a.?

2. Match the following:

a. Principal = Rs 1200, rate = 6%, time = 4 years, then SI = i. Rs 24

b. Principal = Rs 40000, rate = 7% p.a., time = 2 years, then CI = ii. Rs 5796

c. Principal = Rs 160, rate = 3% p.a., time = 5 years, then SI = iii. Rs 702

d. Principal = Rs 5400, rate = 3 14 %, time = 4 years, then SI = iv. Rs 68

e. Principal = Rs 3400, rate = 2%, time = 1 year, then CI = v. Rs 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 Rs 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 Rs 1. What is the sum?

7. A man deposited Rs 6000 in a bank at 8% p.a. simple interest for 4 years. For how many years must another man deposit an amount of Rs 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 Rs 4000 for 2 years at 10% per annum. Find the sum.

9. A sum of money lent at compound interest annually amounts to Rs 250 and Rs 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 Rs 10,000 at 4% per annum and the other for Rs 15000 at 6% p.a. for the same period. If she paid Rs 6500 as total interest, find the period for which the loans were taken.

11. Calculate the amount due and the compound interest on Rs 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 Rs 20000 becomes Rs 24200 after 2 years?

2. Find the simple interest on Rs 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 Rs 100 is invested for 3 months at the rate of 2.5% per quarter?

i. Rs 2.5 ii. Rs 25 iii. Rs 10 iv. Rs 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 Rs 6000 for 3 years at 10% per annum.

5. Find the simple interest on Rs 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 Rs 50. Find the sum.

7. Simple interest on a certain sum of money for 2 years at 6¹/₂ % per annum is Rs 5200. What will be the compound interest on the sum at the same rate and for the same period?

8. Nitish borrowed some money from a money lender at 20% p.a. compound interest. After 3 years, she paid Rs 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 Rs 2400 at the same rate and for the same time.

10. At what time will Rs 5400 yield Rs 1373.76 as compound interest at 12% p.a.?

11. Priti deposited Rs 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. Hema borrowed Rs 2000 at 20% p.a. simple interest. Find the amount of money he needs to pay after 1¹/₂ years.

13. Meera invests Rs 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 Rs 100 at the end of 1st year and Rs 105 at end of 2nd year. Find the rate % per annum.

MCQs Questions for Class 8 Maths