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Compound Interest (Without Using Formula)

ICSE · Class 9 · Mathematics

Flashcards for Compound Interest (Without Using Formula) — ICSE Class 9 Mathematics. Quick Q&A cards covering key concepts, definitions, and formulas.

34 questions22 flashcards5 concepts

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A comparison illustrating how simple interest is calculated only on the original principal, while compound interest is calculated on the principal plus accumulated interest from previous periods, show
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22 Flashcards
Card 1Compound interest calculation

A sum of ₹8,000 is lent at 5% compound interest per year for 2 years. Find the amount and the compound interest.

Answer

Step 1: First year interest = (8,000 × 5 × 1) / 100 = ₹400. Step 2: Amount at end of 1st year = ₹8,000 + ₹400 = ₹8,400. Step 3: Second year interest = (8,400 × 5 × 1) / 100 = ₹420. Step 4: Amount at e…

Card 2Half-yearly compounding

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

Answer

Step 1: Half-yearly compounding means time for each conversion period = 1/2 year. Step 2: For 1st half-year, P = ₹10,000, R = 8%, T = 1/2. Interest = (10,000 × 8 × 1) / (100 × 2) = ₹400. Amount after …

Card 3Concept of growing principal

Why is the interest in the 2nd year more than the interest in the 1st year in compound interest? Use a numerical example.

Answer

Compound interest is calculated on the growing principal. Example: If P = ₹1,000 and R = 10% per year: 1st year interest = (1,000 × 10 × 1) / 100 = ₹100. Amount after 1st year = ₹1,100. 2nd year inter…

Card 4Different rates each year

A sum of ₹16,000 is invested for 3 years at 10%, 12%, and 15% for the successive years. Find the compound interest.

Answer

Step 1: 1st year: P = ₹16,000, R = 10%. Interest = (16,000 × 10 × 1) / 100 = ₹1,600. Amount = ₹16,000 + ₹1,600 = ₹17,600. Step 2: 2nd year: P = ₹17,600, R = 12%. Interest = (17,600 × 12 × 1) / 100 = ₹…

Card 5Fractional year compounding

A sum of ₹6,000 is invested at 10% compound interest per annum for 2 1/2 years. Find the compound interest.

Answer

Step 1: For the 1st year, interest = (6,000 × 10 × 1) / 100 = ₹600. Amount = ₹6,000 + ₹600 = ₹6,600. Step 2: For the 2nd year, interest = (6,600 × 10 × 1) / 100 = ₹660. Amount = ₹6,600 + ₹660 = ₹7,260…

Card 6Repayment with extra item

A man borrows ₹2,500 at 12% compound interest per annum. After 2 years, he pays ₹2,936 and a watch to clear the account. Find the cost of the watch.

Answer

Step 1: 1st year interest = (2,500 × 12 × 1) / 100 = ₹300. Amount after 1st year = ₹2,500 + ₹300 = ₹2,800. Step 2: 2nd year interest = (2,800 × 12 × 1) / 100 = ₹336. Amount after 2nd year = ₹2,800 + ₹…

Card 7Loan repayment with instalments

A man borrows ₹8,000 at 10% compound interest payable every six months. He repays ₹2,500 at the end of every six months. Find the third payment needed to clear the loan.

Answer

Step 1: First 6 months: P = ₹8,000, R = 10%, T = 1/2. Interest = (8,000 × 10 × 1) / (100 × 2) = ₹400. Amount = ₹8,000 + ₹400 = ₹8,400. Balance after repayment = ₹8,400 - ₹2,500 = ₹5,900. Step 2: Next …

Card 8Finding principal using ratio

A sum is invested at 5% compound interest per annum. The difference between the interest of the first year and the interest of the third year is ₹61.50. Find the sum.

Answer

Step 1: Assume principal = ₹100. 1st year interest = 5% of ₹100 = ₹5. Amount after 1st year = ₹105. 2nd year interest = 5% of ₹105 = ₹5.25. Amount after 2nd year = ₹110.25. 3rd year interest = 5% of ₹…

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What are the important topics in Compound Interest (Without Using Formula) for ICSE Class 9 Mathematics?
Compound Interest (Without Using Formula) covers several key topics that are frequently asked in ICSE Class 9 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Compound Interest (Without Using Formula) — ICSE Class 9 Mathematics?
Understand the core concepts first, then work through the 34 practice questions available for this chapter. Revise formulas and definitions regularly, and use flashcards for quick recall before the exam.
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