Practice Deducing a Formula for Compound Interest - 7.5 | 7. Comparing Quantities | CBSE 8 Mathematics
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7.5 - Deducing a Formula for Compound Interest

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

Calculate the compound interest on a principal of $1000 at a rate of 5% for 1 year.

πŸ’‘ Hint: Use the formula A = P(1 + R/100)^n.

Question 2

Easy

What is the total amount after 2 years on a principal of $2000 at 10% annually?

πŸ’‘ Hint: You need to find A using the compound interest formula.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What is the formula for compound interest?

  • A = P(1 + R/100)
  • A = P(1 + R/100)^n
  • A = P + CI

πŸ’‘ Hint: Remember the structure of the formula.

Question 2

True or False: Compound interest is calculated only on the initial sum invested.

  • True
  • False

πŸ’‘ Hint: Recall the meaning of compound interest.

Solve and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

If you have $1500 investing at a 7% annual rate compounded quarterly, how much will you have after 5 years?

πŸ’‘ Hint: Use the adjusted formula for compounding more than once a year.

Question 2

You deposit $2000 in a bank at a 5% interest rate compounded yearly. How much would you have after 10 years?

πŸ’‘ Hint: Remember to apply the annual compounding formula.

Challenge and get performance evaluation