   Web Development : Starting from Concept, HTML, CSS, Web Site Develpment to Website Launching.
Written by: Sanjay Srivastava
B.Tech (Honours);IIT Kharagpur
PMP ; PMI USA

Class - VIII - Maths:- INDEX

1. Squares & Square Roots
2. Cubes & Cube Roots
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 3/3)

Question - Type 4 -
What will be the effect on interest earned, if some amount is deposited for 3 years at a interest rate of @ 10% compounded annually and in other bank at the double rate.

a) the interest earned in first bank C.I.1 = P * [(1+R/100)^n - 1]
= p[(1+10/100)^3 -1]=p[1.331-1]= 0.331 P
b) the interest earned in second bank C.I.2 = P * [(1+R/100)^n - 1]
= p[(1+20/100)^3 -1]=p[1.728-1]= 0.728 P
You may notice that C.I.2 is more than two times of C.I.1 and this is also known as one of the power of compounding.

Question - Type 5 -
Ram invested 10000 Rs at a interest rate of 20% per annum. Find the total sum after 3 years and the interest earned every year.