Daily Practice Problems Interest (Simple and Compound)

Question 1:

Which of the following formula is true? [Level: Easy]

(b) A=

(d) I = P+A

Question 2:

Ashish borrowed Rs. 20,000 at 5 percent per year. How much money will he pay at the end of 2 years to clear his debt? [Level: Easy]

(a) Rs. 30000

(b) Rs. 31000

(d) Rs. 20000

Question 3:

At what rate percent per annum will Rs. 480 produce an interest of Rs. 120 in 5 years? [Level: Moderate]

(a) 3%

(b) 7%

(d) 4%

Question 4:

What sum of money borrowed on 24th May will amount to Rs. 10,210.20 on 17th October of the same year at 5 percent per annum simple interest? [Level: Difficult]

(a) Rs. 510500

(b) Rs. 510000

(d) Rs. 510510

Question 5:

Find the rate of interest per year if the interest charged for 6 months be 0.04 times of the money borrowed? [Level: Moderate]

(a) 9%

(b) 8%

(d) 6%

Question 6:

A certain sum amounts to Rs. 3,800 in 2 years and to Rs. 4,000 in 4 years. Find the rate percent and the sum? [Level: Difficult]

(a) 3 , Rs. 3600

(b) 2 , Rs. 3600

(d) 4 , Rs. 3825

Question 7:

Calculate the compound interest on Rs. 5,000 for 2 years at 10% per year? [Level: Easy]

(a) Rs. 1260

(b) Rs. 1200

(d) Rs. 1100

Question 8:

What will be the compound interest on Rs. 4000 in two years when rate of interest is 5% per annum? [Level: Moderate]

(a) Rs. 400

(b) Rs. 410

(d) Rs. 450

Question 9:

Find the compound interest on Rs. 1000 at the rate of 10% per annum for 1 years when interest is compounded half yearly? [Level: Moderate]

(a) Rs. 150.86

(b) Rs. 157.84

(d) Rs. 154.76

Question 10:

Raman borrowed Rs. 60000 from a bank for 1 ½ years at the rate of 20% per annum. Compare the total compound interest payable by Roma after 1 ½ years, if the interest is compounded half-yearly? [Level: Difficult]

(a) Rs. 10088

(b) Rs. 19000

(d) Rs. 20000

Question 11:

Find the amount and the compound interest on Rs. 10,000 in 3 years, when the rates of interest for successive years are 10%, 10% and 12% respectively? [Level: Difficult]

(a) Rs. 3001

(b) Rs. 5000

(d) Rs. 3552

Question 12:

Calculate the compound interest for the second year on Rs. 12,000 invested for 2 years at 4% per annum? [Level: Easy]

(a) Rs. 499.2

(b) Rs. 454.4

(d) Rs. 494.5

Question 13:

Find the amount of Rs. 5000 for 12 months at 12 % per annum, the interest being compounded semi-annually? [Level: Moderate]

(a) 5618

(b) 6618

(d) 6600

Question 14:

Find the amount that David would receive if he invests Rs. 8000 for 18 months at 16 % per annum, the interest being compounded half-yearly? [Level: Moderate]

(a) Rs. 10077

(b) Rs. 10076

(d) Rs. 10076.6

Question 15:

Find the compound interest on Rs. 15625 for 9 months, at 16% per annum, compounded quarterly? [Level: Easy]

(a) Rs. 1951

(b) Rs. 1950

(d) Rs. 1851

Question 16:

A sum amounts to Rs. 770 at 10% per annum in 2 years, compounded annually. Find the sum? [Level: Moderate]

(a) Rs. 625

(b) Rs. 636.3

(d) Rs. 500

Question 17:

The difference between the compound interest and simple interest on a certain sum at 15% per annum for 3 years is Rs. 283.50. Find the sum? [Level: Difficult]

(a) Rs. 4000

(b) Rs. 2000

(d) Rs. 5000

Question 18:

Find the amount and the compound interest on Rs. 12,000 in 2 years at 10% per annum? [Level: Easy]

(a) Rs. 5000

(b) Rs. 5296

(d) Rs. 6296

Question 19:

A certain sum amounts to Rs. 9,440 in 3 years and to Rs. 10,400 in 5 years. Find the sum and the rate percent? [Level: Difficult]

(a) Rs. 6000, 4%

(b) Rs. 8000, 4%

(d) Rs. 8000, 6%

Question 20:

A sum of money lent out at 5 percent for 5 years produces twice as much interest as Rs. 2400 in 4 years at 10 percent. Find the sum. [Level: Moderate]
(a) Rs. 7680

(b) Rs. 6600

(d) Rs. 9600

**********

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Application of Knowledge: Problem-solving allows you to apply the theoretical concepts of the topic ICSE 8 Maths Interest (Simple and Compound) you have learned to real-life situations. It helps you bridge the gap between abstract knowledge and practical scenarios, making the learning more relevant and meaningful.
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In summary, problem-solving after learning a theoretical concept on CBSE Interest (Simple and Compound) ICSE 8 Maths is an essential part of the learning process. It enhances your understanding, critical thinking abilities, and retention of knowledge. Moreover, it equips you with valuable skills that are applicable in academic, personal, and professional contexts.

You must have heard of the phrase “Practice makes a man perfect”. Well, not just a man, practice indeed enhances perfection of every individual.

Practicing questions plays a pivotal role in achieving excellence in exams. Just as the adage goes, "Practice makes perfect," dedicating time to solve a diverse range of exam-related questions yields manifold benefits. Firstly, practicing questions allows students to familiarize themselves with the exam format and types of problems they might encounter. This familiarity instills confidence, reducing anxiety and improving performance on the actual exam day. Secondly, continuous practice sharpens problem-solving skills and enhances critical thinking, enabling students to approach complex problems with clarity and efficiency. Thirdly, it aids in identifying weak areas, allowing students to focus their efforts on improving specific topics. Moreover, practice aids in memory retention, as active engagement with the material reinforces learning. Regular practice also hones time management skills, ensuring that students can allocate appropriate time to each question during the exam. Overall, practicing questions not only boosts exam performance but also instills a deeper understanding of the subject matter, fostering a holistic and effective learning experience.

All About Daily Practice Problems on ICSE 8 Maths Interest (Simple and Compound) NCERT Chapter 9

Our Daily Practice Problems (DPPs) offer a diverse range of question types, including Multiple Choice Questions (MCQs) as well as short and long answer types. These questions are categorized into Easy, Moderate, and Difficult levels, allowing students to gradually progress and challenge themselves accordingly. Additionally, comprehensive solutions are provided for each question, available for download in PDF format - Download pdf solutions as well as Download pdf Questions. This approach fosters a holistic learning experience, catering to different learning styles, promoting self-assessment, and improving problem-solving skills. With our well-structured DPPs, students can excel in exams while gaining a deeper understanding of the subject matter. Hope you found the content on ICSE 8 Maths Interest (Simple and Compound) NCERT Chapter 9 useful.

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