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Important Questions

Interest — Important Questions

ICSE · Class 8 · Mathematics

43 important questions from Interest for ICSE Class 8 Mathematics, with answers. Includes multiple choice and multiple correct questions.

43 questions24 flashcards5 formulas & key relations5 concepts

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43 Questions·
multiple choicemultiple correct

Important Questions from Interest

1multiple choice
3 marks

A sum of ₹10,000 is invested for 2 years at 5% per year. What is the difference between compound interest and simple interest?

Show answer

₹25

First find both interests. Step 1: S.I. = (10000 × 5 × 2)/100 = ₹1,000. Step 2: For C.I., year 1 amount = 10,000 + 500 = 10,500. Step 3: Year 2 interest = 10,500 × 5% = ₹525. Step 4: C.I. = 500 + 525 = ₹1,025. Step 5: Difference = 1,025 − 1,000 = ₹25.

2multiple choice
3 marks

A sum of ₹8,000 is invested for 1 year at 10% per annum compounded half-yearly. What is the amount?

Show answer

₹8,820

Half-yearly compounding means 2 periods. Step 1: Rate per half-year = 10% ÷ 2 = 5%. Step 2: After 1st half-year: 8000 × 1.05 = 8400. Step 3: After 2nd half-year: 8400 × 1.05 = ₹8,820.

3multiple choice
3 marks

A sum of ₹16,000 is invested for 3 years at 10% per annum compounded yearly. What is the compound interest?

Show answer

₹5,296

Use yearly compounding. Step 1: A = 16000(1.10)^3. Step 2: 1.10^3 = 1.331. Step 3: A = 16000 × 1.331 = ₹21,296. Step 4: C.I. = 21,296 − 16,000 = ₹5,296.

4multiple choice
3 marks

A sum of ₹5,000 is invested for 2 years at successive yearly rates of 8% and 10%. What is the amount?

Show answer

₹5,940

Use successive yearly multiplication. Step 1: After 1st year: 5000 × 1.08 = ₹5,400. Step 2: After 2nd year: 5400 × 1.10 = ₹5,940.

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Frequently Asked Questions

What are the important topics in Interest for ICSE Class 8 Mathematics?
Key topics in Interest include Principal is the money borrowed, Interest is the money paid by, Rate is the interest on every, Time is the period for. Study these first, then practise questions on each for Class 8 exams.
How many important questions are there in Interest?
Super Tutor has 43 practice questions for Interest, including multiple choice, multiple correct questions. A sample with answers is on this page.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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All ICSE Class 8 Mathematics Important Questions

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