• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer

CBSE Tuts

CBSE Maths notes, CBSE physics notes, CBSE chemistry notes

  • NCERT Solutions
    • NCERT Solutions for Class 12 English Flamingo and Vistas
    • NCERT Solutions for Class 11 English
    • NCERT Solutions for Class 11 Hindi
    • NCERT Solutions for Class 12 Hindi
    • NCERT Books Free Download
  • TS Grewal
    • TS Grewal Class 12 Accountancy Solutions
    • TS Grewal Class 11 Accountancy Solutions
  • CBSE Sample Papers
  • NCERT Exemplar Problems
  • English Grammar
    • Wordfeud Cheat
  • MCQ Questions

ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions

ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions

Mental Maths
Question 1.
Fill in the blanks:
(i) The money borrowed (lent or invested) is called …………
(ii) the additional money paid by the borrower to the moneylender in lieu of the money used is called …………
(iii) In simple interest, the principal ………… for the whole loan period.
(iv) In compound interest the ………… goes on changing every conversion period.
(v) The time after which the interest is added each time to form a new principal is called …………
(vi) If the interest is compounded semi-annually then semi-annually rate is ………… of the annual rate.
Solution:
ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions 1

Question 2.
State whether the following statements are true (T) or false (F):
(i) The interest paid by the banks, post offices, insurance companies is simple interest.
(ii) Compound interest is calculated on the amount of the previous year.
(iii) In compound interest, the principal remains constant for the whole period.
(iv) The time from one specified interest period to the next period is called the conversion period.
(v) If the interest is compounded quarterly then there are 2 conversion periods in a year.
Solution:
ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions 2

Multiple Choice Questions
Choose the correct answer from the given four options (3 to 9):
Question 3.
The compound interest on ^1000 at 10% p.a. for 2 years is
(a) ₹190
(b) ₹210
(c) ₹1210
(d) ₹200
Solution:
ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions 3

Question 4.
The compound interest on ₹5000 at 20% per annum for \(1 \frac{1}{2}\) years compounded half yearly is
(a) ₹6655
(b) ₹1655
(c) ₹50
(d) ₹1000
Solution:
ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions 4

Question 5.
The compound interest on ₹10000 at 8% per annum for 6 months compounded quarterly is
a) ₹408
(b) ₹10404
(c) ₹404
(d) ₹400
Solution:
ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions 5

Question 6.
The time periods and rate for a sum taken at 8% p.a. for \(1 \frac{1}{2}\) years compounded half yearly are
(a) n = 3, R = 4%
(b) n = 6, R = 2%
(c) n = 3, R = 2%
(d) n = 6, R = 4%
Solution:
ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions 6

Question 7.
If ₹12000 taken for 2 years at 4% per annum compounded quarterly, then time period and rate is
(a) n = 2, R = 16%
(b) n = 4, R = 1 %
(c) n = 8, R = 1%
(d) n = 8, R = 16%
Solution:
ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions 7

Question 8.
If the number of conversion periods ≥ 2, then compound interest is
(a) less than or equal to the simple interest
(b) greater than or equal to the simple interest
(c) less than simple interest
(d) greater than simple interest
Solution:
ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions 8

Question 9.
The time in which ₹6000 amounts to ₹7986 at 10% p.a. compounded annually is
(a) 2 years
(b) 3 years
(c) 4 years
(d) 5 years
Solution:
ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions 9

Value Based Question
Question 1.
A person wants to invest ₹ 100000 in fixed deposit scheme for 2 years. His financial advisor explained to him two types of schemes first is yielding 10% p.a. compounded annually, second is yielding 10% p.a. compounded semi-annually. Which scheme is better and why? Why investment is important for future life?
Solution:
ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions 10

Higher Order Thinking Skills (Hots)
Question 1.
A certain sum of money is invested at the rate of 5% per annum compound interest, the interest compounded annually. If the difference between the interests of the third year and the first year is ₹102.50. Find the sum.
Solution:
ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions 11
ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions 12

Question 2.
The difference between the compound interest and the simple interest on ₹42000 for two years is ₹105 at the same rate of interest per annum. Find
(i) the rate of interest
(ii) the compound interest earned in the second year.
Solution:
ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions 13
ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions 14
ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions 15
ML Aggarwal Class 8 Solutions for ICSE Maths Chapter 8 Simple and Compound Interest Objective Type Questions 16

ML Aggarwal Class 8 Solutions for ICSE Maths

Primary Sidebar

NCERT Exemplar problems With Solutions CBSE Previous Year Questions with Solutoins CBSE Sample Papers
  • The Summer Of The Beautiful White Horse Answers
  • Job Application Letter class 12 Samples
  • Science Lab Manual Class 9
  • Letter to The Editor Class 12 Samples
  • Unseen Passage For Class 6 Answers
  • NCERT Solutions for Class 12 Hindi Core
  • Invitation and Replies Class 12 Examples
  • Advertisement Writing Class 11 Examples
  • Lab Manual Class 10 Science

Recent Posts

  • Understanding Diversity Question Answer Class 6 Social Science Civics Chapter 1 NCERT Solutions
  • Our Changing Earth Question Answer Class 7 Social Science Geography Chapter 3 NCERT Solutions
  • Inside Our Earth Question Answer Class 7 Social Science Geography Chapter 2 NCERT Solutions
  • Rulers and Buildings Question Answer Class 7 Social Science History Chapter 5 NCERT Solutions
  • On Equality Question Answer Class 7 Social Science Civics Chapter 1 NCERT Solutions
  • Role of the Government in Health Question Answer Class 7 Social Science Civics Chapter 2 NCERT Solutions
  • Vital Villages, Thriving Towns Question Answer Class 6 Social Science History Chapter 9 NCERT Solutions
  • New Empires and Kingdoms Question Answer Class 6 Social Science History Chapter 11 NCERT Solutions
  • The Delhi Sultans Question Answer Class 7 Social Science History Chapter 3 NCERT Solutions
  • The Mughal Empire Question Answer Class 7 Social Science History Chapter 4 NCERT Solutions
  • India: Climate Vegetation and Wildlife Question Answer Class 6 Social Science Geography Chapter 8 NCERT Solutions
  • Traders, Kings and Pilgrims Question Answer Class 6 Social Science History Chapter 10 NCERT Solutions
  • Environment Question Answer Class 7 Social Science Geography Chapter 1 NCERT Solutions
  • Understanding Advertising Question Answer Class 7 Social Science Civics Chapter 7 NCERT Solutions
  • The Making of Regional Cultures Question Answer Class 7 Social Science History Chapter 9 NCERT Solutions

Footer

Maths NCERT Solutions

NCERT Solutions for Class 12 Maths
NCERT Solutions for Class 11 Maths
NCERT Solutions for Class 10 Maths
NCERT Solutions for Class 9 Maths
NCERT Solutions for Class 8 Maths
NCERT Solutions for Class 7 Maths
NCERT Solutions for Class 6 Maths

SCIENCE NCERT SOLUTIONS

NCERT Solutions for Class 12 Physics
NCERT Solutions for Class 12 Chemistry
NCERT Solutions for Class 11 Physics
NCERT Solutions for Class 11 Chemistry
NCERT Solutions for Class 10 Science
NCERT Solutions for Class 9 Science
NCERT Solutions for Class 7 Science
MCQ Questions NCERT Solutions
CBSE Sample Papers
NCERT Exemplar Solutions LCM and GCF Calculator
TS Grewal Accountancy Class 12 Solutions
TS Grewal Accountancy Class 11 Solutions