RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2

These Solutions are part of RD Sharma Class 8 Solutions. Here we have given RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2

Other Exercises

Question 1.
Compute the amount and the compound interest in each of the following by using the formula when :
(i) Principal = Rs 3,000, Rate = 5%, Time = 2 years
(ii) Principal = Rs 3,000 Rate = 18%, Time = 2 years
(iii) Principal = Rs 5,000 Rate = 10 paise per rupee per annum, Time = 2 years
(iv) Principal = Rs 2,000, Rate = 4 paise per rupee per annum, Time = 3 years.
(v) Principal = Rs 12,800, Rate = 7\(\frac { 1 }{ 2 }\) %, Time = 3 years
(vi) Principal = Rs 10,000, Rate = 20% per annum compounded half-yearly, time = 2 years
(vii) Principal = Rs 1,60,000, Rate = 10 paise per rupee per annum compounded half- yearly, Time = 2 years.
Solution:
(i) Principal (P) = Rs 3,000
Rate (R) = 5% p.a.
Time (n) = 2 years
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 1
and compound interest (C.I) = A – P = Rs 3307.50 – Rs 3,000 = Rs 307.50
(ii) Principal (P) = Rs 3,000
Rate (R) = 18% p.a.
Time (n) = 2 years

and compound interest (C.I.) = A – P = Rs 4177.20 – Rs 3,000 = Rs 1177.20
(iii) Principal (P) = Rs 5,000
Rate (R) =10 paise per rupee or 10% p.a.
Time (n) = 2 years.
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 3
C.I. = A – P = Rs 6,050 – Rs 5,000 = Rs 1,050
(iv) Principal (P) = Rs 2,000
Rate (R) = 4 paise per rupee or 4% p.a.
Time (n) = 3 years

C.I. = A – P = Rs 2249.73 – Rs 2,000 = Rs 249.73
(v) Principal (P) = Rs 12,800

C.I. = A – P = Rs 15901.40 – Rs 12,800 = Rs 3101.40
(vi) Principal (P) = Rs 10,000
Rate (R) = 20% p.a. or 10% half-yearly
Time = 2 years or 4 half-years
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 6
C.I. = A – P = Rs 14,641 – Rs 10,000 = Rs 4,641
(vii) Principal (P) = Rs 1,60,000
Rate (R) = 10 paise per rupee or 10% p.a. or 5% half-yearly
Time (n) = 2 years or 4 half-years.

C.I. = A – P = Rs 1,94,481 – Rs 1,60,000 = Rs 34,481

Question 2.
Find the amount of Rs 2,400 after 3 years, when the interest is compounded annually at the rate of 20% per annum.
Solution:
Principal (P) = Rs 2,400
Rate (R) = 20%
Time (n) = 3 years
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 8

Question 3.
Rahman lent Rs 16,000 to Rasheed at the rate of 12\(\frac { 1 }{ 2 }\) % per annum compound interest. Find the amount payable by Rasheed to Rahman after 3 years.
Solution:
Principal (P) = Rs 16,000
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 9

Question 4.
Meera borrowed a sum of Rs 1,000 from Sita for two years. If the rate of interest is 10% compounded annually find the amount that Meera has to pay back.
Solution:
Amount of loan (P) = Rs 1,000
Rate (R) = 10% p.a.
Period (n) = 2 years
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 10

Question 5.
Find the difference between the compound interest and simple interest. On a sum of Rs 50,000 at 10% per annum for 2 years.
Solution:
Principal (P) = Rs 50,000
Rate (R) = 10% p.a.
Period (n) = 2 years.
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 11
Difference between C.I. and S.I. = Rs 10,500 – Rs 10,000 = Rs 500

Question 6.
Amit borrowed Rs 16,000 at 17\(\frac { 1 }{ 2 }\) % per annum simple interest on the same day, he lent it to Ashu at the same rate but compounded annually. What does he gain at the end of 2 years ?
Solution:
Amount of loan (P) = Rs 16,000
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 12

C.I. = A – P = Rs 22,090 – Rs 16,000 = Rs 6,090
Now gain = C.I. – S.I = Rs 6,090 – 5,600 = Rs 490

Question 7.
Find the amount of Rs 4,096 for 18 months at 12\(\frac { 1 }{ 2 }\) % per annum, interest being compounded semi-annually ?
Solution:
Principal (P) = Rs 4,096
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 14

Question 8.
Find the amount and the compound interest on Rs 8,000 for 1\(\frac { 1 }{ 2 }\) years at 10% per annum, compounded half-yearly.
Solution:
Principal (P) = Rs 8,000
Rate (R) = 10% p.a. or 5% half yearly
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 15
and C.I. = A – P = Rs 9,261 – Rs 8,000 = Rs 1,261

Question 9.
Kamal borrowed Rs 57,600 from LIC against her policy at 12\(\frac { 1 }{ 2 }\) % per annum to build a house. Find the amount that she pays LIC after 1\(\frac { 1 }{ 2 }\) years if the interest is calculated half-yearly.
Solution:
Amount of loan (P) = Rs 57,600
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 16

Question 10.
Abha purchased a house from Avas Parishad on credit. If the cost of the house is Rs 64,000 and the rate of interest is 5% per annum compounded half-yearly, find the interest paid by Abha after one year and a half.
Solution:
Price of house (P) = Rs 64,000
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 17
Compound interest (C.I.) = A – P = Rs 68,921 – Rs 64,000 = Rs 4,921

Question 11.
Rakesh lent out Rs 10,000 for 2 years at 20% per annum compounded annually. How much more he could earn if the interest be compounded half-yearly ?
Solution:
Principal (P) = Rs 10,000
Rate (R) = 20% p.a. or 10% half-yearly
Period (n) = 2 years or 4 half-years
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 18

C.I. = Rs 14,400 – Rs 10,000 = Rs 4,400
Now difference in C.I. = Rs 4,641 – Rs 4,400 = Rs 241

Question 12.
Romesh borrowed a sum of Rs 2,45,760 at 12.5% per annum compounded annually. On the same day, he lent out his money to Ramu at the same rate of interest but compounded semi-annually. Find his gain after 2 years.
Solution:
In first case,
Principal (P) = Rs 2,45,760
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 20

C.I. = A – P = Rs 313203.75 – Rs 2,45,760 = Rs 67443.75
Gain = 67443.75 – Rs 65,280 = Rs2163.75

Question 13.
Find the amount that David would receive if he invests Rs 8,192 for 18 months at 12\(\frac { 1 }{ 2 }\) % per annum, the interest being compounded half-yearly.
Solution:
Principal (P) = Rs 8,192
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 22

Question 14.
Find the compound interest on Rs 15,625 for 9 months at 16% per annum, compounded quarterly.
Solution:
Principal (P) = Rs 15,625
Rate (R) = 16% p.a. or 4% quarterly
Period (n) = 9 months or 3 quarters
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 24
Compound interest = A – P = Rs 17,576 – Rs 15,625 = Rs 1,951

Question 15.
Rekha deposited Rs 16,000 in a foreign bank which pays interest at the rate of 20% per annum compounded quarterly, find the interest received by Rekha after one year.
Solution:
Principal (P) = Rs 16,000
Rate (R) = 20% p.a. or 5% quarterly
Period (n) = one year or 4 quarters
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 25
C.I. = A – P = Rs 19448.10 – Rs 16,000 = Rs 3448.10

Question 16.
Find the amount of Rs 12,500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.
Solution:
Principal (P) = Rs 12,500
Rate (R1) = 15% p.a. for first year
R2 = 16% p.a. for second year
Period = 2 years
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 26

Question 17.
Ramu borrowed Rs 15,625 from a finance company to buy a scooter. If the rate of interest be 16% per annum compounded annually, what payment he will have to make after 2\(\frac { 1 }{ 4 }\) years ?
Solution:
Principal (P) = Rs 15,625
Rate (R) = 16%
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 27

Question 18.
What will Rs 1,25,000 amount to at the rate of 6% if interest is calculated after every 4 months for one year ?
Solution:
Principal (P) = Rs 1,25,000
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 29

Question 19.
Find the compound interest at the rate of 5% for 3 years on that principal which in 3 years at the rate of 5% per annum gives Rs 12,000 as simple interest.
Solution:
In first case,
S.I. = Rs 12,000
Rate (R) = 5% p.a.
Period (T) = 3 years
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 30
= Rs 80,000
In second case,
Principal (P) = Rs 80,000
Rate (R) = 5% p.a.
Period (n) = 3 years

C.I. = A – P = Rs 92,610 – 80,000 = Rs 12,610

Question 20.
A sum of money was lent for 2 years at 20% compounded annually. If the interest is payable half-yearly instead of yearly, then the interest is Rs 482 more. Find the sum.
Solution:
Let Sum (P) = Rs x
Rate (R) = 20% p.a. or 10% half-yearly
Period (n) = 2 years or 4 half years
In first case,
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 32
Interests = A – P = Rs 146.41 – Rs 100 = Rs 46.41
Now difference in interests = Rs 46.41 – Rs 44.00 = Rs 2.41
If difference is 2.41 then sum is 100 If difference is Rs 482, then sum

Question 21.
Simple interest on a sum of money for 2 years at 6\(\frac { 1 }{ 2 }\) % per annum is Rs 5,200. What will be the compound interest on the sum at the same rate for the same period ?
Solution:
In first case,
S.I. = Rs 5,200
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 34

Compound interest = A – P = Rs 45,369 – Rs 40,000 = Rs 5,369

Question 22.
Find the compound interest at the rate of 5% per annum for 3 years on that principal which in 3 years at the rate of 5% per annum gives Rs 1,200 as simple interest.
Solution:
In first case,
S.I. = Rs 1,200
Rate (R) = 5% p.a.
Period (T) = 3 years
RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 36
In second case,
Principal (P) = Rs 8,000
Rate (R) = 5% p.a.
Period (n) = 3 years

= Rs 9,261
C.I. = A – P = Rs 9,261 – Rs 8000 = Rs 1,261

Hope given RD Sharma Class 8 Solutions Chapter 14 Compound Interest Ex 14.2 are helpful to complete your math homework.

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