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Compound Interest (Without Using Formula) — Flashcards

ICSE · Class 9 · Mathematics

22 flashcards for Compound Interest (Without Using Formula) (ICSE Class 9 Mathematics) to test yourself on key terms and facts.

34 questions22 flashcards10 formulas & key relations5 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·
Compound interest calculationHalf-yearly compoundingConcept of growing principalDifferent rates each yearFractional year compoundingRepayment with extra itemLoan repayment with instalmentsFinding principal using ratio
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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Frequently Asked Questions

What are the important topics in Compound Interest (Without Using Formula) for ICSE Class 9 Mathematics?
Key topics in Compound Interest (Without Using Formula) include Core ideas and definitions, Worked patterns that repeat in exams, Key examples to remember. Study these first, then practise questions on each for Class 9 exams.
How many flashcards are available for Compound Interest (Without Using Formula)?
There are 22 flashcards for Compound Interest (Without Using Formula) covering key definitions, facts and ideas. A few sample cards are shown on this page.
How should I revise Compound Interest (Without Using Formula) for Class 9 exams?
Learn the core ideas first, then work through the 34 practice questions on Compound Interest (Without Using Formula). Revise definitions regularly and use flashcards for quick recall before the exam.

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