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Interest — Practice Quiz

ICSE · Class 8 · Mathematics

Try a 4-question quiz on Interest for ICSE Class 8 Mathematics: tap an answer to check it and see why. 43 questions in the full chapter test.

43 questions24 flashcards5 formulas & key relations5 concepts

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Quick Quiz: Interest

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1

A sum of ₹12,000 is invested for 3 years at 10% per annum compounded yearly. What is the amount?

2

A sum of ₹8,000 is invested for 1.5 years at 10% per annum compounded half-yearly. What is the compound interest?

3

A sum of ₹12,000 is invested for 3 years at successive yearly rates of 10%, 12% and 15%. What is the compound interest?

4

A sum amounts to ₹9,440 in 3 years and to ₹10,400 in 5 years at simple interest. What are the principal and rate?

43 Questions·
multiple choicemultiple correct

Sample Questions

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.

+39 more questions on Interest (ICSE Class 8 Mathematics)

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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 practice questions are there for Interest?
There are 43 questions on Interest. Try the 4-question sample quiz on this page first; each answer shows an explanation when you tap it.

Sources & Official References

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

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