Compound Interest Test sample paper for class 8

1. You invest Rs 5000 at 12% interest compounded annually. How much is in the account after 2 years, assuming that you make no subsequent withdrawal or deposit?

2. Find the amount and the compound interest on Rs 4000 at 10% p.a. for 2½ years.

3. A man invests Rs 5000 for three years at a certain rate of interest, compounded annually. At the end of one year it amounts to Rs 5600. Calculate(i) the rate of interest per annum,(ii) the interest accrued in the second year,(iii) the amount at the end of the third year.

4. A sum of Rs 9600 is invested for 3 years at 10% per annum at compound interest.(i) What is the sum due at the end of the first year?(ii) What is the sum due at the end of the second year?(iii) Find the compound interest earned in two years.(iv) Find the difference between the answers (ii) and (i) and find the interest on this sum for one year.(v) Hence write down the compound interest for the third year.

5. Find the difference between the S.I. and C.I. on Rs 2500 for 2 years at 4% p.a., compound interest reckoned semi-annually.

6. Find the amount and the compound interest on Rs 8000 in 2 years if the rate is 10% for the first year and 12% for the second year.

7. A man invests Rs 6500 for 3 years at 4·5% p.a. compound interest reckoned yearly. Income tax at the rate of 20% is deducted at the end of each year. Find the amount at the end of the third year.

8. Calculate the compound interest for the second year on Rs 8000 invested for 3 years at 10% p.a.

9. Find the sum which amounts to Rs 9261 at 10% p.a. compound interest for 18 months, interest payable half-yearly.

10. On what sum will the compound interest for 2 years at 5% p.a. be Rs 246?

11. On what sum will the compound interest (reckoned yearly) for 3 years at 6¼% per annum be Rs 408·50?

12. A man invests Rs 1200 for two years at compound interest. After one year his money amounts to Rs 1275. Find the rate of compound interest. Also find the amount which the man will get after 2 years correct to the nearest paise.

13. At what rate percent per annum compound interest will Rs 2000 amount to Rs 2315·25 in 3 years?

14. If Rs 50000 amounts to Rs 73205 in 4 years, find the rate of compound interest payable yearly. In what time will Rs 15625 amount to Rs 17576 at 4% per annum compound interest? .

Answers







1. Rs 6272 2. Rs 5082; Rs 1082


3. (i) 12% (ii) Rs 672 (iii) Rs 6952·64


4. (i) Rs 10560 (ii) Rs 11616 (iii) Rs 2016


(iv) Rs 1056, Rs 105·60 (v) Rs 1161·60


5. Rs 6·08 6. Rs 9856; Rs 1856 7. Rs 7227·56


8. Rs 880 9. Rs 8000 10. Rs 2400 11. Rs 2048


12. 6¼%; Rs 1354·69 13. 5% 14. 10%


15. 3 years