{"id":44638,"date":"2022-05-31T02:00:44","date_gmt":"2022-05-30T20:30:44","guid":{"rendered":"https:\/\/cbselibrary.com\/?p=44638"},"modified":"2023-01-25T11:30:39","modified_gmt":"2023-01-25T06:00:39","slug":"ml-aggarwal-class-8-solutions-for-icse-maths-chapter-8-check-your-progress","status":"publish","type":"post","link":"https:\/\/cbselibrary.com\/ml-aggarwal-class-8-solutions-for-icse-maths-chapter-8-check-your-progress\/","title":{"rendered":"ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Check Your Progress"},"content":{"rendered":"
Question 1.
\nFind the amount and the compound interest on \u20b95000 for 2 years at 6% per annum interest payable yearly.
\nSolution:
\nPrincipal (P) = \u20b95000
\nRate of interest (r) = 6% p.a.
\nPeriod (n) = 2 years
\n
\n\u2234 C.I. =A – P
\n= \u20b95618 – \u20b95000 = \u20b9618<\/p>\n
Question 2.
\nFind the amount and the compounded interest on \u20b97400 for 1 year at 5% per annum, interest payable half yearly.
\nSolution:
\nPrincipal (P) = \u20b97400
\nRate (R) = 5% p.a. or \\(\\frac{5}{2}\\) % half yearly
\nPeriod (n) = 1 year or 2 half years
\n
\n
\nand C.I. = A – P = \u20b97774.625 – \u20b97400 = \u20b9374.625<\/p>\n
Question 3.
\nFind the difference between C.I. and S.l. on sum of \u20b95000 for 2 years at 8% per annum payable yearly.
\nSolution:
\nPrincipal = \u20b95000
\nRate (R) = 8% p.a.
\nPeriod (n) = 2 years
\n
\n\u2234 C.I. = A – P = \u20b95832 – \u20b95000 = \u20b9832
\nNow difference between C.I. and S.l.
\n= \u20b9832 – \u20b9800 = \u20b932<\/p>\n
Question 4.
\nFind the amount and compound interest on \u20b910000 for \\(1 \\frac{1}{2}\\) years at 10% per annum, compounded half yearly. Would this interest be more than the interest he would get if it was compounded annually?
\nSolution:
\nPrincipal (P) = \u20b910000
\nRate (R) = 10% p.a. or 5% half yearly
\nPeriod (n) = \\(1 \\frac{1}{2}\\) years or 3 half years
\n
\n
\n\u2234 and C.I. = \u20b911550 – 10000 = \u20b91550
\nYes, the interest compounded half yearly is more than yearly.<\/p>\n
Question 5.
\nWhat sum invested for \\(1 \\frac{1}{2}\\) years compounded half yearly at the rate of 4% p.a. will amount to \u20b9 132651 ?
\nSolution:
\nAmount (A) = \u20b9 132651
\nRate (R) = 4% p.a. or 2% half yearly
\nPeriod (n) = \\(1 \\frac{1}{2}\\) years or 3 half years
\n
\n= \u20b9125000<\/p>\n
Question 6.
\nFind the time (in years) in which \u20b9 12500 will produce \u20b93246.40 as compound interest at 8% per annum, compounded annually.
\nSolution:
\nPrincipal (P) = \u20b912500
\nC.I. = \u20b93246.40
\n\u2234 Amount = P + C.I. = 12500 + 3246.40
\n= \u20b9 5746.40
\nRate (R) = 8% p.a.
\n
\nComparing, we get n = 3
\n\u2234 Time = 3 years<\/p>\n
Question 7.
\nFind the amount and compound interest on \u20b92500 in 2 years if the rate are 5% and 6% for the successive years.
\nSolution:
\nPrincipal (P) = \u20b92500
\nRate (R) = 5% and 6% for 2 successive years
\n
\nand C.I. =A – P = \u20b92782.50 – 2500 = \u20b9282.50<\/p>\n
ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Check Your Progress Question 1. Find the amount and the compound interest on \u20b95000 for 2 years at 6% per annum interest payable yearly. Solution: Principal (P) = \u20b95000 Rate of interest (r) = 6% p.a. Period (n) = 2 years … Read more<\/a><\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[3034],"tags":[],"yoast_head":"\n