Compound Interest Class IX( Revision)
Important types of Question and Answer 1). Find the compound interest on ₹6250 at 8% p.a. for 2 years Ans. P = ₹6250, R = 8% p.a. and T = 2 years Amount = P(1+R/100) ^t = {6250(1+8/100) ^2} = {6250×27/25×27/25} = ₹7290 CI = (7290 - 6250) = ₹1040 2). A deposited ₹6000 in a bank at 5% per annum simple interest. B deposited ₹5000 at 8% p.a. compound interest. After 2 years, the difference between their interests will be. Ans. SI = ( P×R×T/100) = (6000×5×2/100) = ₹600 CI = [5000×(1+8/100) ^2 - 5000] = [ (5000×27/25×27/25) - 5000] = (5832-5000) = ₹832 Difference = CI - SI = (832-600) = ₹232 3). Calculate the compound interest accrued on ₹6,000 in 3 years, compounded yearly, if the rates for the successiv...