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Written by: Sanjay Srivastava

B.Tech (Honours);IIT Kharagpur

PMP ; PMI USA

Class - VIII - Maths:- INDEX

1. Squares & Square Roots2. Cubes & Cube Roots

3. Exponents & Radicals

4. Profit Loss & Discount

5. Compound Interest

6. Algebraic Identities

7. Polynomials

8. Linear Equations

9. Parallel Lines

10. Types of Quadrilaterals

11. Construction of Quadrilaterals

12. Circles

13. Areas

14. Surface Areas

15. Volumes

16. Statistics

Class - VIII - Maths
## What is Compound Interest Formula (Page 1/3)

__Important Tips__
(1) Simple Interest = (P * T * R)/100

[ P=Principal; R=Rate of interest; T=Time]

Please make sure that the both 'Time' and 'Rate of interest' are in the same reference .i.e. years / months / days

C.I. = Compound Interest; n=No of period

Question - Type 1 -

Find the compound interest on Rs 10000/- for 3 years @ 10 % annually, by simple interest and compound interest formula.

Answer - 1-

Refer the formulas shown in left side.

__By Simple Interest Method - __Since the question is for compound interest annually, therefore we have to calculate annually.

(a) Interest for 1st year = 10000 * 1 * 10/100 = 1000

P after 1 year = 10000+1000=11000

(a) Interest for 2nd year = 11000 * 1 * 10/100 = 1100

P after 1 year = 11000+1100=12100

(a) Interest for 3rd year = 12100 * 1 * 10/100 = 1210

P after 1 year = 12100+1210=13310

Therefore Interest = 13310 - 10000 =__Rs 3310__

__By Compound Interest Method - __ P=10000 R=10 n=3

= 10000 [(1.331)-1] = 10000 * .331 =__Rs 3310__

(Cont..... to page 2 )

© funandhobby.com (* What is Compound Interest Formula*)

[ P=Principal; R=Rate of interest; T=Time]

Please make sure that the both 'Time' and 'Rate of interest' are in the same reference .i.e. years / months / days

C.I. = Compound Interest; n=No of period

Question - Type 1 -

Find the compound interest on Rs 10000/- for 3 years @ 10 % annually, by simple interest and compound interest formula.

Answer - 1-

Refer the formulas shown in left side.

(a) Interest for 1st year = 10000 * 1 * 10/100 = 1000

P after 1 year = 10000+1000=11000

(a) Interest for 2nd year = 11000 * 1 * 10/100 = 1100

P after 1 year = 11000+1100=12100

(a) Interest for 3rd year = 12100 * 1 * 10/100 = 1210

P after 1 year = 12100+1210=13310

Therefore Interest = 13310 - 10000 =

= 10000 [(1.331)-1] = 10000 * .331 =

(Cont..... to page 2 )

© funandhobby.com (