In this chapter, we provide RD Sharma Solutions for Class 8 Chapter 14 Compound Interest Exercise 14.1 for English medium students, Which will very helpful for every student in their exams. Students can download the latest RD Sharma Solutions for Class 8 Chapter 14 Compound Interest Exercise 14.1 pdf, free RD Sharma Solutions for Class 8 Chapter 14 Compound Interest Exercise 14.1 book pdf download. Now you will get step by step solution to each question.

### Access other exercises of RD Sharma Solutions for Class 8 Maths Chapter 14 Compound Interest

Exercise 14.2 Solutions

Exercise 14.3 Solutions

Exercise 14.4 Solutions

Exercise 14.5 Solutions

### Access answers to Maths RD Sharma Solutions For Class 8 Exercise 14.1 Chapter 14 Compound Interest

**1. Find the compound interest when principal = Rs 3000, rate = 5% per annum and time = 2 years.**

**Solution:**

Given details are,

Principal (p) = Rs 3000

Rate (r) = 5%

Time = 2years

Interest for the first year = (3000×5×1)/100 = 150

Amount at the end of first year = Rs 3000 + 300 = Rs 3150

Principal interest for the second year = (3150×5×1)/100 = 157.5

Amount at the end of second year = Rs 3150 + 157.5 = Rs 3307.5

∴ Compound Interest = Rs 3307.5 – Rs 3000 = Rs 307.5

**2. What will be the compound interest on Rs. 4000 in two years when rate of interest is 5% per annum?**

**Solution:**

Given details are,

Principal (p) = Rs 4000

Rate (r) = 5%

Time = 2years

By using the formula,

A = P (1 + R/100)^{ n}

= 4000 (1 + 5/100)^{2}

= 4000 (105/100)^{2}

= Rs 4410

∴ Compound Interest = A – P = Rs 4410 – Rs 4000 = Rs 410

**3. Rohit deposited Rs. 8000 with a finance company for 3 years at an interest of 15% per annum. What is the compound interest that Rohit gets after 3 years?**

**Solution:**

Given details are,

Principal (p) = Rs 8000

Rate (r) = 15%

Time = 3years

By using the formula,

A = P (1 + R/100)^{ n}

= 8000 (1 + 15/100)^{3}

= 8000 (115/100)^{3}

= Rs 12167

∴ Compound Interest = A – P = Rs 12167 – Rs 8000 = Rs 4167

**4. Find the compound interest on Rs. 1000 at the rate of 8% per annum for 1 ½ years when interest is compounded half yearly.**

**Solution:**

Given details are,

Principal (p) = Rs 1000

Rate (r) = 8%

Time = 1 ½ years = 3/2 × 2 = 3 half years

By using the formula,

A = P (1 + R/200)^{ 2n}

= 1000 (1 + 8/200)^{3}

= 1000 (208/200)^{3}

= Rs 1124.86

∴ Compound Interest = A – P = Rs 1124.86 – Rs 1000 = Rs 124.86

**5. Find the compound interest on Rs. 160000 for one year at the rate of 20% per annum, if the interest is compounded quarterly.**

**Solution:**

Given details are,

Principal (p) = Rs 160000

Rate (r) = 20% = 20/4 = 5% (for quarter year)

Time = 1year = 1 × 4 = 4 quarters

By using the formula,

A = P (1 + R/100)^{ n}

= 160000 (1 + 5/100)^{4}

= 160000 (105/100)^{4}

= Rs 194481

∴ Compound Interest = A – P = Rs 194481 – Rs 160000 = Rs 34481

**6. Swati took a loan of Rs. 16000 against her insurance policy at the rate of 12 ½ % per annum. Calculate the total compound interest payable by Swati after 3 years.**

**Solution:**

Given details are,

Principal (p) = Rs 16000

Rate (r) = 12 ½ % = 12.5%

Time = 3years

By using the formula,

A = P (1 + R/100)^{ n}

= 16000 (1 + 12.5/100)^{3}

= 16000 (112.5/100)^{3}

= Rs 22781.25

∴ Compound Interest = A – P = Rs 22781.25 – Rs 16000 = Rs 6781.25

**7. Roma borrowed Rs. 64000 from a bank for 1 ½ years at the rate of 10% per annum. Compare the total compound interest payable by Roma after 1 ½ years, if the interest is compounded half-yearly.**

**Solution:**

Given details are,

Principal (p) = Rs 64000

Rate (r) = 10 % = 10/2 % (for half a year)

Time = 1 ½ years = 3/2 × 2 = 3 (half year)

By using the formula,

A = P (1 + R/100)^{ n}

= 64000 (1 + 10/2×100)^{3}

= 64000 (210/200)^{3}

= Rs 74088

∴ Compound Interest = A – P = Rs 74088 – Rs 64000 = Rs 10088

**8. Mewa lal borrowed Rs. 20000 from his friend Rooplal at 18% per annum simple interest. He lent it to Rampal at the same rate but compounded annually. Find his gain after 2 years.**

**Solution:**

Given details are,

Principal (p) = Rs 20000

Rate (r) = 18 %

Time = 2 years

By using the formula,

Interest amount Mewa lal has to pay,

By using the formula,

Simple interest = P×T×R/100

= (20000×18×2)/100 = 7200

Interest amount Rampal has to pay to Mewa lal,

By using the formula,

A = P (1 + R/100)^{ n}

= 20000 (1 + 18/100)^{2}

= 20000 (118/100)^{2}

= Rs 27848 – 20000 (principal amount)

= Rs 7848

∴ Mewa lal gain = Rs (7848 – 7200) = Rs 648

**9. Find the compound interest on Rs. 8000 for 9 months at 20% per annum compounded quarterly.**

**Solution:**

Given details are,

Principal (p) = Rs 8000

Rate (r) = 20 % = 20/4 = 5% (for quarterly)

Time = 9 months = 9/3 = 3 (for quarter year)

By using the formula,

A = P (1 + R/100)^{ n}

= 8000 (1 + 5/100)^{3}

= 8000 (105/100)^{3}

= Rs 9261

∴ Compound Interest = A – P = Rs 9261 – Rs 8000 = Rs 1261

**10. Find the compound interest at the rate of 10% per annum for two years on that principal which in two years at the rate of 10% per annum given Rs. 200 as simple interest.**

**Solution:**

Given details are,

Simple interest (SI) = Rs 200

Rate (r) = 10 %

Time = 2 years

So, by using the formula,

Simple interest = P×T×R/100

P = (SI × 100)/ T×R

= (200 × 100) / 2 × 10

= 20000/20

= Rs 1000

Now,

Rate of compound interest = 10%

Time = 2years

By using the formula,

A = P (1 + R/100)^{ n}

= 1000 (1 + 10/100)^{2}

= 1000 (110/100)^{2}

= Rs 1210

∴ Compound Interest = A – P = Rs 1210 – Rs 1000 = Rs 210

**11. Find the compound interest on Rs. 64000 for 1 year at the rate of 10% per annum compounded quarterly.**

**Solution:**

Given details are,

Principal (p) = Rs 64000

Rate (r) = 10 % = 10/4 % (for quarterly)

Time = 1year = 1× 4 = 4 (for quarter in a year)

By using the formula,

A = P (1 + R/100)^{ n}

= 64000 (1 + 10/4×100)^{4}

= 64000 (410/400)^{4}

= Rs 70644.03

∴ Compound Interest = A – P = Rs 70644.03 – Rs 64000 = Rs 6644.03

**12. Ramesh deposited Rs. 7500 in a bank which pays him 12% interest per annum compounded quarterly. What is the amount which he receives after 9 months.**

**Solution:**

Given details are,

Principal (p) = Rs 7500

Rate (r) = 12 % = 12/4 = 3 % (for quarterly)

Time = 9 months = 9/12years = 9/12 × 4 = 3 (for quarter in a year)

By using the formula,

A = P (1 + R/100)^{ n}

= 7500 (1 + 3/100)^{3}

= 7500 (103/100)^{3}

= Rs 8195.45

∴ Required amount is Rs 8195.45

**13. Anil borrowed a sum of Rs. 9600 to install a hand pump in his dairy. If the rate of interest is 5 ½ % per annum compounded annually, determine the compound interest which Anil will have to pay after 3 years.**

**Solution:**

Given details are,

Principal (p) = Rs 9600

Rate (r) = 5 ½ % = 11/2 %

Time = 3years

By using the formula,

A = P (1 + R/100)^{ n}

= 9600 (1 + 11/2×100)^{3}

= 9600 (211/200)^{3}

= Rs 11272.71

∴ Compound Interest = A – P = Rs 11272.71 – Rs 9600 = Rs 1672.71

**14. Surabhi borrowed a sum of Rs. 12000 from a finance company to purchase a refrigerator. If the rate of interest is 5% per annum compounded annually, calculate the compound interest that Surabhi has to pay to the company after 3 years.**

**Solution:**

Given details are,

Principal (p) = Rs 12000

Rate (r) = 5 %

Time = 3years

By using the formula,

A = P (1 + R/100)^{ n}

= 12000 (1 + 5/100)^{3}

= 12000 (105/100)^{3}

= Rs 13891.5

∴ Compound Interest = A – P = Rs 13891.5 – Rs 12000 = Rs 1891.5

**15. Daljit received a sum of Rs. 40000 as a loan from a finance company. If the rate of interest is 7% per annum compounded annually, calculate the compound interest that Daljit pays after 2 years.**

**Solution:**

Given details are,

Principal (p) = Rs 40000

Rate (r) = 7%

Time = 2years

By using the formula,

A = P (1 + R/100)^{ n}

= 40000 (1 + 7/100)^{2}

= 40000 (107/100)^{2}

= Rs 45796

∴ Compound Interest = A – P = Rs 45796 – Rs 40000 = Rs 5796

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